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146 | The South African Insurance Industry Survey 2016 Dec-15 Dec-14

REINSURERS | Statement of Financial Position | R’000 Scor Africa
Limited
Accounting year end
Group/Company 150 000 150 000
65 642 81 981
Share capital and share premium 6 966
Retained earnings/(deficit) (14 459)
Reserves including contingency reserve 201 183 238 947
Total shareholders' funds
1 118 208 626 722
Gross outstanding claims 250 654 233 771
Gross unearned premium reserve -
Provision for profit commission 64 896 -
Policyholder liabilities under insurance contracts - 38 601
Liabilities in respect of investment contracts 63 360
Deferred reinsurance commission revenue (12 187) -
Deferred tax liabilities/(assets) 769 631 53 371
Funds withheld 256 563
Other liabilities (825)
Total liabilities 2 511 125 535 579
205 054
Total investments 1 692 273

Funds withheld 845 036 818 064
PPE and intangible assets
Retrocessionaires' share of outstanding claims - -
Retrocessionaires' share of unearned premium reserve 299 318
Retrocessionaires' share of profit commissions 693 733 423 931
Retrocessionaires' share of liabilities under life insurance contracts 157 513 148 117
Deferred acquisition cost
Cash and cash equivalents - -
Other assets 34 230 16 546
Total assets 99 668 82 900
206 210 193 822
CAR ratio 675 619 247 522
Return on equity 2 712 308 1 931 220
Total assets/total liabilities
Change in shareholders' funds 3,3 2,3
(8%) 8%
108% 114%
(16%)