Phone: 850 2 18333 ext. 3818304 Email: future@futurere.com.kp

Financial Highlights


As at December 31, 2022

Balance Sheet

Currency: KPW'000
Assets Year 2023
Cash with bank and in hand 2,362,547
Trade receivables 371,582
Accrued incomes 22,757
Deferred acquisition costs 26,025
Prepayment 2,904
Intangible assets 198,351
Investments 2,562,512
Property and equipment 641,158
Total assets 6,187,836

Equity and Liabilities Year 2023
Liabilities
Reinsurance contract liabilities
398,519
- Provision for unearned premiums
307,730
- Provision for outstanding claims
34,158
- Accounts payables
56,631
- Deposits retained on retroceded business
Other payables
5,863
Total liabilities 404,382
Equity
Paid up capital
3,300,000
- Additional paid-in capital
Retained earnings
2,023,804
Contingency reserve
163,815
Other reserves
295,835
Total equity 5,783,454
Total Equity and Liabilities 6,187,836

Income Statement


Income
Underwriting Income 1,849,784
Net premiums earned
1,849,784
Net written premiums
1,857,912
- Gross written premiums
1,857,912
- Premiums ceded to retrocessionaires
Changes in provision for unearned premiums
(8,128)
Investment income 437,142
Real estates
Loans and receivables
227,568
Available-for-sale financial assets
146,890
Financial assets at fair value through profit
31,920
Deposits
30,764
Other income
Total incomes 2,286,926
Net claims incurred (576,808)
Net claims paid
(566,314)
- Gross claims paid
(566,314)
- Retroceded amount
Changes in provision for outstanding claims
(10,494)
Commission paid (221,854)
Administrative expenses (335,960)
Other expenses (105,489)
Total expenses (1,240,111)
Operating result before payment to state 1,046,815
Payment to state (314,045)
Net profit for the year 732,770

Cash Flow Statement


Operating activities
Cash generated from operation 647,297
Payment to state (314,045)
Net cash (generated)/used in from operating activities 333,252
Investing activities
Proceeds from disposal of investment assets 108,896
Purchases of property and equipment
Purchases of intangible assets (5,401)
Purchases of securities
Interests received 414,385
Rental income received
Net cash (generated)/used in from investing activities 517,880
Financing activities
Proceeds from note issued
Dividends paid to equity shareholder (219,831)
Net cash (generated)/used in from financing activities (219,831)
Net (decrease)/increase in cash and cash equivalents 631,301
Movement in cash and cash equivalents
At beginning of year 1,731,246
Net (decrease)/ increase in cash and cash equivalents 631,301
Cash and cash equivalents at the end of year 2,362,547