|
|
| Financial Report 2004
|
Unaudited interim balance sheet at 30 September 2004
(Expressed in Bahrain dinars)
|
Notes |
30 September 2004 |
31 December 2003 |
| ASSETS |
|
|
|
Cash and cash equivalents |
|
3,398,032 |
2,844,771 |
Statutory deposits |
|
125,000 |
125,000 |
Available-for-sale investments |
|
6,445,256 |
5,615,437 |
Receivables: |
|
|
|
Policyholders |
|
986,455 |
740,338 |
Insurance and reinsurance companies |
|
424,776 |
501,584 |
Others |
|
155,071 |
199,628 |
Outstanding claims recoverable from re-insurers |
|
3,276,110 |
3,329,253 |
Property and equipment |
|
122,000 |
131,388 |
|
|
|
| TOTAL ASSETS |
|
14,932,700 |
13,487,399 |
|
|
|
| LIABILITIES |
|
|
|
Insurance funds |
|
|
|
Outstanding claims - gross |
|
5,840,529 |
5,768,031 |
Unearned premiums |
|
1,009,578 |
825,184 |
Unearned commissions |
|
182,065 |
121,691 |
Other technical provisions |
|
343,997 |
341,310 |
Payables and other liabilities |
|
|
|
Policyholders |
|
168,503 |
138,806 |
Premium withheld from re-insurers |
|
252,515 |
223,487 |
Insurance and reinsurance companies |
|
721,651 |
735,569 |
Others |
|
516,708 |
301,457 |
Provision for employees' leaving indemnity |
|
87,804 |
71,481 |
|
|
|
TOTAL LIABILITIES |
|
9,123,350 |
8,527,016 |
|
|
|
TOTAL NET ASSETS |
|
5,809,350 |
4,960,383 |
|
|
|
|
SHAREHOLDERS' EQUITY |
|
|
|
Share capital |
|
3,000,000 |
2,640,000 |
Treasury shares |
|
(3,612) |
(3,612) |
Statutory reserve |
|
526,267 |
526,267 |
Fair value reserve |
|
1,489,575 |
969,418 |
Proposed bonus shares |
|
- |
360,000 |
Proposed appropriations |
|
- |
308,000 |
Retained earnings |
|
797,120 |
160,310 |
|
|
|
| TOTAL SHAREHOLDERS' EQUITY |
|
5,809,350 |
4,960,383 |
| |
|
|
|
|
|
Hussain Ali Sajwani
Chairman |
Adel Hassan Ali Alaali
Deputy Chairman |
Yahya E. Nooruddin
General Manager |
|
| |
|
|
|
|
|
|
|
