2015 Integrated Report

East African Underwriters Limited

Statement of Financial Position
At 31st December 2015
Assets Note 2015 2014
Ushs'000 Ushs'000
Equipment 10 344,165 454,588
Statutory deposit 11 (c) 559,421 538,723
Available for sale investments 11 (a) 2,561,103 1,816,679
Held to maturity investments 11 (b) 14,023,687 12,996,306
investment in associates 11 (d) - 129,300
Premiums receivable 12 2,328,992 1,223,158
Reinsurers' share of insurance liabilities and reserves 13 4,112,712 6,429,133
Short term loans 14 2,518,505 2,216,535
Other receivables 15 290,064 384,474
Due from related parties 16 (b) 174,550 40,744
Tax recoverable 9 (e) 959,575 674,679
Cash and bank balances   1,388,346 616,445
Total Assets   29,261,120 27,520,764
Equity and liabilities
Capital and reserves
Share capital 17 4,000,000 4,000,000
Contingency reserve 18 (a) 3,048,617 2,659,686
Capital base growth fund 18 (b) 629,350 499,706
Fair value revaluation reserve   1,309,029 499,706
Retained earnings   4,679,118 4,534,422
Total equity   13,666,114 12,621,747
Liabilities
Deferred tax liability 9 (c) 740,387 559,448
Payables arising out of reinsurance arrangements   4,172,872 2,199,714
Insurance contract liabilities 19 4,807,852 6,806,298
Unearned premium reserves 20 4,159,471 4,241,184
Provision for retirement benefit obligation   668,735 450,003
Other payables 21 919,082 485,349
Due to related parties 16 (c) 126,607 157,021
Total liabilities   15,595,006 14,899,017
Total equity and liabilities   29,261,120 27,520,764