Page 106 - MC14326 all pages
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102 | The South African Insurance Industry Survey 2016
SHORT TERM INSURERS | Statement of Financial Position | R’000
Accounting year end Dec-15 Dec-14 Jun-15 Jun-14 Dec-15 Dec-14 Mar-15 Mar-14 Mar-15 Mar-14
Group/Company
Centriq Insurance Dial Direct Enpet Africa Escap SOC Export Credit Insurance
FSB classification Company Insurance Limited Insurance Limited Limited Corporation of South
Share capital and share premium Limited Africa Limited
Retained earnings/(deficit)
Reserves, including contingency reserve Cell captive Traditional Captive Captive Niche
Total shareholders' funds 3 000
Total shareholders' funds and non-controlling 55 000 55 000 20 001 20 001 69 322 3 000 379 500 379 500 316 051 316 051
interests 18 906 60 543
137 394 148 017 174 077 245 014 91 228 22 242 1 053 027 543 262 1 318 293 2 162 538
91 228 85 785
-- -- 85 785 (1 014) (2 808) 2 689 895 1 258 378
192 394 203 017 194 078 265 015 1 431 513 919 954 4 324 239 3 736 967
192 394 203 017 194 078 265 015 1 431 513 919 954 4 324 239 3 736 967
Gross outstanding claims 588 108 554 707 132 602 148 926 111 959 103 889 7 454 152 5 862 063 611 022 517 054
Gross unearned premium reserve 1 630 918 1 410 556 97 610 102 934 632 - 899 541 1 061 417 2 955 903 1 213 730
Reinsurers' share of expected salvages and 17 109 - - -
recoveries - - 11 336 - - -
Owing to cell owners - - - -
Deferred reinsurance commission revenue 880 276 831 773 - - - - 32 502 - - -
Deferred tax liability 16 995 4 585 - - - - 38 869 - -
Other liabilities - - 54 057 20 1 489 1 640 - 38 350 42 012
Total liabilities 301 378 54 067 114 080 105 529 8 664 - 35 049 39 904
590 069 436 459 317 283 8 394 859 75 167 3 640 324 1 812 700
3 706 366 3 238 080 7 037 516
Total investments including investments in 2 920 696 2 500 541 169 402 163 613 90 616 89 317 6 043 054 4 810 114 2 582 549 4 993 017
subsidiaries
Deferred tax asset, intangible assets and PPE 22 321 18 134 249 - 854 597 123 095 311 422 9 305 4 978
Reinsurers' share of outstanding claims 192 852 156 913 16 360 18 203 17 755 25 270 2 983 351 1 959 211 - -
Reinsurers' share of unearned premium reserve - -
Gross expected salvages and recoveries 63 202 39 375 - - 311 - 325 018 388 693 - -
Deferred acquisition costs - - 35 673 31 759 - - - - - -
Cash and cash equivalents - -
Other assets 23 079 22 843 - - 66 301 16 251 19 435 3 817 639 122 950
Total assets 226 464 304 137 227 078 260 496 92 911 9 829 17 489 11 522 1 555 070 428 722
450 146 399 154 108 227 2 861 191 314 318 114 457 073 7 964 563 5 549 667
3 898 760 3 441 097 46 694 582 298 9 826 372 7 957 470
495 456 205 308
International solvency margin 22% 23% 47% 61% 281% 271% 103% 76% 242% 2860%
Total assets/Total liabilities 105% 106% 164% 184% 180% 181% 117% 113% 219% 306%
Change in shareholders' funds (27%)
(5%) 6% 56% 16%
