|
|
2007 |
2006 |
|
|
BIRR |
BIRR |
BIRR |
|
ASSETS EMPLOYED |
|
|
|
|
PROPERTY AND EQUIPMENT
INVESTMENTS
STATUTORY DEPOSIT |
|
62,625,156
80,243,514
9,151,056 |
65,073,849
86,636,391
9,151,056 |
|
DEFERRED TAX ASSET
CURRENT ASSETS |
|
494,883 |
641,023 |
|
Debtors |
95,670,913 |
|
124,341,465 |
|
Due from reinsurers |
5,573,436 |
|
7,486,700 |
|
Due from ceding companies |
25,529,426 |
|
25,877,255 |
|
Short term investments |
106,498,544 |
|
90,990,942 |
|
Fixed time deposits |
517,863,477 |
|
452,533,213 |
|
Cash and bank balances |
49,648,443 |
|
56,517,478 |
|
|
800,0784,239 |
|
757,747,053 |
|
CURRENT LIABILITIES |
|
|
|
|
Outstanding claims |
163,117,819 |
|
132,180,472 |
|
Creditors |
29,466,120 |
|
33,960,581 |
|
Due to reinsurers |
97,683,402 |
|
127,735,911 |
|
Due to ceding companies |
15,835,101 |
|
11,686,364 |
|
Income tax |
9,228,760 |
|
13,040,711 |
|
State dividend payable |
- |
|
988,144 |
|
|
315,331,202 |
|
319,592,183 |
|
NET CURRENT ASSETS |
|
485,453,037 |
438,154,870 |
|
|
|
637,967,646 |
599,657,189 |
|
FINANCED BY |
|
|
|
| CAPITAL Authorized and paid up |
|
61,007,038 |
61,007,038 |
|
LEGAL RESERVE |
|
49,403,628
|
44,049,537
|
|
|
|
|
|
|
GENERAL RESERVE |
|
12,926,656 |
12,926,656 |
|
|
|
|
|
|
ACCUMULATED PROFIT |
|
126,881,366 |
148,418,572 |
|
|
|
250,218,688 |
266,401,803 |
|
INSURANCE FUNDS |
|
|
|
|
Provision for unexpired risks |
123,431,969 |
|
99,029,136 |
|
Other technical provisions |
93,444,233 |
|
84,069,220 |
|
Inward business reserve |
14,754,868 |
|
19,017,337 |
|
Life insurance, provident and |
|
|
|
|
Pension funds |
156,117,888 |
387,748,958
637,967,646
|
131,139,693
333,255,386
599,657,189 | |
