Continental Reinsurance Plc
Balance Sheet as at 31st December 2007
Cash and bank balances
45,619
41,844
Short-term investments
7,933,893
754,284
Reinsurance debtors
1,719,212
1,382,333
prepayments and other debit balances
875,896
545,591
Long term investments
2,537,464
1,432,812
Statutory deposit
1,000,000
35,000
Total Assets
14159646
4230964
Creditors and accruals
890,169
565,154
Outstanding claims
205,324
433,070
Insurance funds
926,924
744,961
Deferred taxation
8,168
8,168
Total Liabilities
2344375
2006560
share capital
5,186,372
1,240,591
Share premium
3,870,959
76,956
Revenue reserve
1,162,502
123,881
Investments revaluation reserve
1,162,502
215,993
Exchange equilisation reserve
15,377
-10,661
General reserve fund
373,929
178,448
Contingency reserve
415,127
296,775
Revaluation reserve
102,421
102,421
SHAREHOLDERS’ FUNDS
11815271
2224404
For the year ended 31 December 2007
Non-life underwriting profit
332,339
95,899
Profit before taxation
818,459
214,782
Profit after taxation
676,686
135,791
Contingency reserve
-111,984
-19,180
Profit transferred to revenue reserve
564702
116611
Key Performance Information
Earnings per share (basic) (kobo)
7
5
Net assets per share (kobo)
114
81
For the period ended 31 December 2007
Premiums received from policy holders
2,373,610
2,055,978
Retrocession receipts in respect of claims
3,824
35,426
Acquisition cost paid
-757,118
-756,226
Retrocession premium paid
-147,979
-80,835
Cash paid to and on behalf of employees
1,073,080,949
-463,974
Claims paid
1,073,024,129
-792,850
Other operating income
153,163
3,879
Income tax paid
-5,234
-42,987
Net Cash Provided by/(used in) Operating Activities
241696
-41589
Purchase of fixed assets
-31,414
-26,935
Purchase of investments
-479,336
-511,131
Proceeds on sale of investments
718,901
316,643
Dividend received
35,606
24,336
Proceeds on sale of fixed assets
1,102
192
Statutory deposit payment
-965,000
Net Cash used in Investing Activities
-720141
-196895
Proceeds from issue of shares
8,423,972
353,343
Share issue expenses
-684,188
-83,128
Net Cash Provided By Financing Activities
7739784
203198
Net increase/(Decrease) in cash and cash equivalent
7,261,339
-35,286
Cash and cash equivalent at the beginning of the year
718,173
753,459
Cash and cash equivalent at the end of the year
7979512
718173
Investment Valuation Ratios
Operating Profit Margin(%)
Return On Capital Employed(%)
Return On Net Worth(%)
0.06%
Net Premium Income/Insurance Funds
Growth in Underwriting Profit
2.47%
Underwriting Expense Ratio
Underwriting Profit Margin
Cash Flow Indicator Ratios