Financial Summary

Downloads

Income Statement


USD30/12/17*31/12/1631/12/1531/12/1431/12/1331/12/12
Retained Earnings
End of Period
2,515,634(1,056,285)2,369,7073,936,282 4,983,386 3,599,242

Underwriting Income:

Net Premiums earned24,515,490 20,384,78317,730,06618,112,429 19,569,325 16,168,342
Investment Income2,163,9011,245,6121,091,9291,200,632 568,901 890,641
26,679,39121,630,39518,821,994 19,313,061 20,138,226 17,058,983

Underwriting Expenses:

Net Claims Incurred16,928,10420,888,41417,205,72413,257,997 10,795,763 8,415,766
Acquisition Costs(2,043,899)(3,873,315)(1,022,430)2,007,751 2,710,478 3,071,485
14,884,20517,015,09916,183,29415,265,748 13,506,241 11,487,251
Underwriting Profit 11,795,186 4,615,296 2,638,700 4,047,313 6,631,985 5,571,732
Other Income8,747,0404,594,0344,116,0634,118,638 3,025,879 4,131,182
20,542,2269,209,3306,754,7648,165,951 9,657,864 9,702,914
Foreign Exchange Profit (Loss)175,818(81,731)(295,972) (233,558) (193,864) 87,666
Amortization of Goodwill---(10,217)00
General and Administrative Expenses(13,994,880)(12,446,255)(8,868,424) (9,958,386) (7,862,066) (7,339,857)
Earnings for the Year before Taxation6,723,164(3,318,656)(2,409,633) (2,025,993) 1,601,934 2,450,723
Taxation(2,611,823)39,218844,625926,144 (355,642) (88,397)
Net Earnings for the Year4,111,341 (3,279,438) (1,565,008) (1,099,849) 1,246,292 2,362,326
Retained Earnings - Beginning of Period(1,056,285)2,369,7073,936,2824,983,386 3,599,242 991,182
Prior Year Adjustment to convert to US GAAP------
Non-controlling Interests(539,422)(146,554)(1,567)52,745 137,852 245,734
Dividends------

*Currently unaudited

Balance Statement


USD31/12/17*31/12/1631/12/1531/12/1431/12/1331/12/12
Total Equity Interest
Attributable to Shareholders
22,460,502 18,365,645 21,566,659 23,131,667 24,231,516 22,985,224

Assets

Cash and Deposits20,684,17120,006,93820,995,97827,804,492 29,714,848 21,522,832
Marketable Securities29,534,58833,945,98232,009,77228,390,082 23,148,985 20,470,850
Deposit Assets14,425,59725,488,98939,459,90950,701,171 57,253,536 55,144,701
Accounts Receivable and Accrued Interest22,669,22519,065,93916,720,68013,718,540 10,141,038 8,308,180
Deferred Underwriting Expenses0000 3,240,714 775,312
Goodwill2,180,6672,180,6671,633,7391,633,739 1,643,956 1,643,956
Property, Plant and Equipment442,790538,136614,246523,495 220,007 215,712
Total Assets 89,937,038 101,226,651 111,434,324 122,771,519 125,363,084 108,081,543

Liabilities

Accounts Payable and Accruals18,739,80918,568,78613,071,59814,996,790 10,915,341 7,453,319
Provision for Claims26,544,80628,926,63928,190,09326,248,602 17,820,426 12,850,385
Deposit Liabilities13,692,96025,450,76639,265,76151,884,723 58,144,150 55,045,678
Unearned Premium8,498,9619,761,1828,743,2575,748,430 13,071,013 7,885,629
Unearned Service Fee0153,633596,956761,307 1,180,638 1,861,308
Total Liabilities67,476,536 82,861,006 89,867,665 99,639,852 101,131,568 85,096,319
Net Assets22,460,502 18,365,645 21,566,659 23,131,667 24,231,516 22,985,224

Shareholders Equity

Capital Stock20,000,00020,000,00020,000,000 20,000,000 20,000,000 20,000,000
Retained Earnings2,515,634(1,056,285)2,369,7073,936,282 4,983,386 3,599,242
Non-controlling interest(55,132)(578,070)(803,048) (804,615) (751,870) (614,018)

*Currently unaudited