Phone: 850 2 18333 ext. 3818304 Email: future@futurere.com.kp
Financal Highlights
As at December 31, 2018
Balance Sheet
Currency: KPW'000
| Assets | Year 2018 |
| Intangible assets | 201,514 |
| Tangible assets and inventories | 565,864 |
| Investments | 1,163,200 |
| Receivables | 100,002 |
| Cash at bank, cheque and cash in hand | 1,782,227 |
| Other assets | 224,914 |
| Total Assets | 4,037,721 |
| Equity and Liabilities | Year 2018 |
| Equity | |
- Paid up capital |
3,200,000 |
- Retained earnings |
51,897 |
- Contingency reserve |
2,731 |
| Total Equity | 3,254,628 |
| Liabilities | |
Technical provisions |
727,638 |
- Unearned premiums |
375,834 |
- Provision for outstanding claims |
14,776 |
- Accounts payable on reinsurance business |
336,289 |
- Deposits retained on retroceded business |
|
- Other technical provisions |
739 |
Accrued liabilities |
54,994 |
Other liabilities |
461 |
| Total Liabilities | 783,093 |
| Total Equity and Liabilities | 4,037,721 |
Income Statement
| Income | |
| Net earned premiums | 375,835 |
1) Net written premiums |
751,669 |
(1) Gross premiums written |
751,669 |
(2) Retroceded premiums |
|
2) Change in net unearned premiums |
375,834 |
(1) Change in gross unearned premiums |
375,834 |
(2) Change in retroceded share of unearned premium |
|
| Investment income | 232,640 |
| Other income | |
| Total incomes | 608,475 |
| Net claims incurred | 309,998 |
1) Net claims paid |
309,259 |
(1) Gross amount |
309,259 |
(2) Retroceded amount |
|
2) Change in outstanding claims provision |
739 |
(1) Gross amount |
739 |
(2) Retroceded amount |
|
| Net operating expenses | 219,976 |
1) Gross operating expenses |
219,976 |
2) Less Commissions received on retroceded busines |
|
| Other expenses | 461 |
| Total expenses | 530,435 |
| Operating result before payment to State | 78,040 |
| Payment to State | 23,412 |
| Net profit for the year | 54,628 |
Cash Flow Statement
| Operating activities | |
| Cash generated from operations | 536,217 |
| Payment to State | 23,412 |
| Net cash from operating activities | 512,805 |
| Investing activities | |
| Purchase of investment assets | (1,163,200) |
| Purchase of property and equipment | (565,864) |
| Purchase of intangible assets | (201,514) |
| Net cash (used in)/generated from investing activities | (1,930,578) |
| Net increase/(decrease) in cash and cash equivalents | (1,417,773) |
| Movement in cash and cash equivalents | |
| At beginning of year | 2,880,000 |
| Additional paid-in capital | 320,000 |
| Net increase/(decrease) in cash and cash equivalents | (1,417,773) |
| At end of year | 1,782,227 |