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PROFIT & LOSS ACCOUNT Gross Premium Written Reinsurance Ceded Net

PROFIT & LOSS ACCOUNT Gross Premium Written Reinsurance Ceded Net

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Published by missph

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Categories:Types, Business/Law
Published by: missph on Dec 01, 2009
Copyright:Attribution Non-commercial

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08/21/2010

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PROFIT & LOSS ACCOUNTGross Premium Written 3,467,770.00 3,810,859.00Reinsurance Ceded (1,733,360.00) (2,228,337.00)Net Premiums Written
1,734,410.00 1,582,522.00
Change in enearned premiu (94,775.00) (123,069.00)Net Premiums Earned
1,639,635.00 1,459,453.00
Commission Income 194,866.00 192,423.00Commission Expense (261,922.00) (245,589.00)Claims expense (1,146,366.00) (1,023,315.00)Underwriting expense (23,545.00) (16,053.00)Administration Expense (551,619.00) (454,283.00)Underwriting Loss/Profit
(148,951.00) (87,364.00)
Other Income 506,618.00 366,811.00Other operating Expense (116,560.00) (63,120.00)EBIT
241,107.00 216,327.00
Profit Before Taxation
241,107.00 216,327.00
 Taxation (82,243.00) (65,431.00)Net Profit 158,864.00 150,896.00
 
3,268,491.00 2,328,903.00 1,373,056.00(1,989,991.00) (1,224,140.00) (828,922.00)
1,278,500.00 1,104,763.00 544,134.00
52,817.00 11,628.00 (64,276.00)
1,331,317.00 1,116,391.00 479,858.00
170,305.00 113,172.00 79,540.00(219,248.00) (172,208.00) (106,446.00)(875,035.00) (713,147.00) (356,525.00)(19,224.00) (14,416.00) (4,501.00)(401,959.00) (315,580.00) (179,826.00)
(13,844.00) 14,212.00 (87,900.00)
315,307.00 270,780.00 356,306.00(50,147.00) (25,047.00) (23,978.00)
251,316.00 259,945.00 244,428.00
(332.00) (8,833.00) (11,512.00)
250,984.00 251,112.00 232,916.00
(91,435.00) (61,896.00) (38,590.00)159,549.00 189,216.00 194,326.00
 
BALANCE SHEET20082007ASSETSCash & short Term Investments 754,747 533,895Investments 2,433,348 2,347,605431,837 260,0751,694,783 1,256,771Deferred Policy Acquisition Costs 122,873 99,137Other Receivables 18,126 25,938Due from Parent Company 1,207 Taxation Recoverable 42,062Long term receivableFixed Assets 342,991 281,859Retirement Benefit Assets 90,826 90,836Intangable Assets 471,271 510,543
6,402,864 5,407,866
LIABILITIES & SHAREHOLDERS EQUITYDue to reinsurers 399,818 183,621Insurane services 3,754,719 3,085,384Other Payables 100,236 74,790 Taxation Payable 10Due to Parent 972Deferred Tax Liabiliites 119,545 53,152Bank Overdraft 25,146 27,610Retirement Benefit Obligation 80,959 71,406
4,481,395 3,495,973
Shareholders EquityShare Capital 1,065,076 1,065,076Capital & fair value reserves 52,745 180,629Retained earnings 803,648 666,188
1,921,469 1,911,893
6,402,864 5,407,866PROFIT & LOSS ACCOUNTGross Premium Written 3,467,770 3,810,859Reinsurance Ceded (1,733,360) (2,228,337)Due from Agents, Brokers &PolicyholdersRecoverable from Reinsurers andCoincurers

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