Balance Sheet as at 31st December 2006
Cash and bank balances
55,139
10,459
Short-term funds
122,788
243,974
Debtors and prepayments
688,978
397,475
Long-term investments
59,191
66,931
Statutory deposit
45,000
45,000
Investment properties
83,000
50,000
Fixed assets
270,546
210,992
Total Assets
1324642
974921
Creditors and accruals
189,520
146,499
Outstanding claims
36,577
36,623
Insurance funds
357,237
224,211
Deposit Administration
13,513
17,202
Deferred taxation
12,163
3,047
Share capital
360,000
360,000
Contingency reserve
87,730
67,660
Revaluation reserve
145,020
77,191
Quoted investment revaluation reserve
6,429
9,520
Profit and loss account
75,408
4,378
Shareholders funds
679736
523898
For the year ended 31 December 2006
Gross premium
678,308
526,183
Net premium written
669,296
502,886
Profit (loss) before taxation
114,905
39,051
Profit (loss) after taxation
90,918
30,002
Earnings per share basic (kobo)
12
4
Net assets per share (kobo)
94
73
For the period ended 31 December 2006
cash flow from Operating activities:
Premium received
542,168
526,183
Claims recovered from reinsurance
802
8,695
Commission received
1,438
27
Commission paid
-118,309
-89,482
Reinsurance premium paid
-13,440
-23,297
Cash paid to and on behalf of employees
-403,115
-22,198
Other operating cash payments
-439,498
Investment and other income
17,200
30,188
Claims paid
-27,080
-42,941
Net Cash flow from (used in) Operating Activities
-246
-52323
Cash flows from investing activities
Purchase of fixed assets
-10,895
-9,359
Proceeds from sales of fixed assets
4,250
Proceeds from disposal of investments
1,423
Proceeds on long term investments
9,791
21,091
Net Cash (used) /from Investing Activities
3146
13155
Cash flows from financing activities
Net Cash used in Financing Activities
-4442
Net increase in cash and cash equivalent
-1,542
-39,168
Cash and cash equivalent at the beginning of the year
175,426
214,594
Cash and cash equivalent at the end of the year
173884
175426
Investment Valuation Ratios
Operating Profit Margin(%)
Return On Capital Employed(%)
Return On Net Worth(%)
0.13%
Net Premium Income/Insurance Funds
2
Growth in Gross Premiums
0.29%
Growth in Underwriting Profit
Underwriting Expense Ratio
Underwriting Profit Margin
Cash Flow Indicator Ratios
Earning Retention Ratio
1.05%