Sep 30, 2015 - Fair value through profit or loss. 746533899. 128,201,000. 118,119,209. 109,039,316. 128,201,000. 118,119
MUTUAL BENEFIT ASSURANCE PLC STATEMENT OF FINANCIAL POSITION AS AT 30TH SEPTEMBER, 2015 GROUP SEPTEMBER 2015 N ASSETS Cash and cash equivalents 13,351,412,746
PAGE 1
DECEMBER 2014 N
SEPTEMBER 2014 N
COMPANY SEPTEMBER 2015 N
DECEMBER 2014 N
SEPTEMBER 2014 N
13,147,603,000
7,277,407,462
5,993,792,930
5,273,617,000
3,365,302,465
- Fair value through profit or loss -Available for Sale financial Assets Loans and advances Pledged assets Trade receivables Reinsurance assets Deferred acquisition cost Other receivables and prepayments Finance lease receivables Investment in subsidiaries Inventories Intangible assets Property Plant and equipment Investment properties Statutory deposit Deposit for shares Deffered Tax Asset Goodwill
746533899 109,039,316 13,340,161,891 120,181,217 96,103,131 3,037,996,531 350,390,009 1,620,199,428 361,731,945 2,013,250,115 65,258,405 4,042,117,896 7,084,764,000 500,000,000 125,479,617 97,096,617 17,981,000
128,201,000 549,418,000 9,264,534,000 129,467,528 66,515,000 1,562,803,000 260,153,000 1,304,096,000 518,455,000
118,119,209 1,788,461,899 13,129,840,875 121,712,000 253,019,849 2,275,400,954 341,503,477 3,756,623,818 1,757,993,155
109,039,316
128,201,000
118,119,209
313,295,643 120,181,217 85,864,767 2,731,697,733 264,222,250 850,922,172 760,892,694 2,010,000,000
389,310,371 129,467,528 23,443,000 1,235,294,000 208,844,000 653,927,000 739,876,000 2,010,000,000
1,108,464,315 121,712,000 176,770,373 2,118,616,954 275,152,477 849,094,771 1,992,079,771 2,236,281,462
1,659,496,000 99,133,000 5,905,509,000 6,984,764,000 500,000,000 195,479,000 97,097,000 17,980,000
953,272,566 28,302,538 4,512,014,560 8,241,398,000 500,000,000 560,000,000 89,729,908 17,981,000
55,764,118 3,173,532,904 47,000,000 300,000,000 55,479,617
89,222,000 3,204,920,000 47,000,000 300,000,000 55,479,000
9,746,000 3,453,094,755 300,000,000 560,000,000
TOTAL ASSETS
47,079,697,763
42,390,703,528
45,722,781,270
16,871,685,361
14,488,600,899
16,684,434,553
6,219,677,598 23,532,302,777 93,577,834 2,356,930,423 637,421,423 48,986,843 400,869,812 4,582,144,700 522,750,593 951,984,528
5,628,630,000 20,423,868,000 81,322,000 4,451,076,000 485,281,000 6,605,000 458,341,000 3,161,644,988 505,961,000 957,547,014
Financial assets:
LIABILITIES Insurance contract liabilities Investment Contract Liabilities Trade payables Other payables Deposit Liabilities Books overdraft Borrowing Long term borrowing Current income tax Deferred income tax
7,717,863,842 16,527,643,017 487,641,311 6,299,715,628 485,281,000 166,293,221 400,869,812 8,289,634,048 732,554,773 671,758,522
4,353,813,962
3,364,254,000
6,124,264,842
830,980,963
1,084,494,099
1,344,150,838
48,986,843 400,869,812 3,600,000,000 328,477,209 673,346,000
6,605,000 400,869,812 3,161,644,988 248,738,000 673,346,000
166,293,221 400,869,812 3,331,885,434 439,902,163 433,962,000
39,346,646,531
36,160,276,002
41,779,255,174
10,236,474,789
8,939,951,899
12,241,328,310
NET ASSET
7,733,051,232
6,230,427,526
3,943,526,096
6,635,210,572
5,548,649,000
4,443,106,242
EQUITIES Issued share capital Treasury share Retained earnings Contigency reserve Revaluation reserve
4,000,000,000 (250,000) 25,719,675 2,326,828,734 1,288,563,000
4,000,000,000 (250,000) (1,098,384,474) 2,024,085,000 1,288,563,000
4,000,000,000 (250,000) (2,806,021,701) 1,459,272,000 1,288,563,000
4,000,000,000 (250,000) (595,263,246) 1,942,160,819 1,288,563,000
4,000,000,000 (250,000) (1,405,329,000) 1,665,665,000 1,288,563,000
4,000,000,000 (2,372,124,334) 1,526,667,576 1,288,563,000
SHAREHOLDERS' FUND BALANCE
7,640,861,409
6,214,013,526
3,941,563,299
6,635,210,572
5,548,649,000
4,443,106,242
92,189,823 7,733,051,232
16,414,000.00 6,230,427,526
1,962,797 3,943,526,096
Non Controlling Interest
6,635,210,572
5,548,649,000
4,443,106,242
MUTUAL BENEFIT ASSURANCE PLC STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30TH SEPTEMBER, 2015
PAGE 2 GROUP SEPTEMBER 2015 N
COMPANY SEPTEMBER 2014 N
SEPTEMBER 2015 N
SEPTEMBER 2014 N
Gross premium written
29
11,841,686,235
12,576,798,811
9,216,527,284
10,325,214,811
Gross premium income earned Premium ceded to reinsurers Net premium
29 30
10,480,365,522 (3,925,459,670) 6,554,905,852
9,531,096,609 (4,049,714,112) 5,481,382,497
8,341,776,572 (3,847,098,313) 4,494,678,259
7,237,273,609 (3,979,592,112) 3,257,681,497
Commission income
31
433,598,124
661,478,689
215,702,124
316,684,689
Other income from insurance contract
433,598,124
661,478,689
215,702,124
316,684,689
Total Revenue from insurance contract
6,988,503,976
6,142,861,186
4,710,380,383
3,574,366,186
32 32
1,759,445,022 (284,322,200) 1,475,122,822
1,827,158,995 (524,431,008) 1,302,727,987
1,241,302,739 (174,424,826) 1,066,877,913
1,249,763,994 (476,369,008) 773,394,986
Acquisition expenses due for the period 33 Other underwriting expenses 33
1,470,526,422 -
1,350,956,559 -
612,685,466 314,791,260
567,464,049 202,014,510
Underwriting expenses
1,470,526,422
1,350,956,559
927,476,726
769,478,559
Total expenses to the insurance contract
2,945,649,244
2,653,684,546
1,994,354,639
1,542,873,545
Underwriting profit /(loss)
4,042,854,732
3,489,176,640
2,716,025,744
2,031,492,641
Net Underwriting profit
4,042,854,732
3,489,176,640
2,716,025,744
2,031,492,641
1,977,866,025 (483,355,012) (3,101,240,330) (1,382,950,414)
1,672,229,154 (2,245,200,862) (1,038,809,576)
510,826,552 (438,355,012) (1,268,762,425) (717,735,993)
1,381,625,784
2,239,264,488
1,298,161,973
Gross claims paid Re-insurance claim recoveries Net claim expenses
Other income Fair value on Daewoo Management expenses Employee benefit expenses
Profit before tax Income tax expense Profit / Loss for the year after tax
35 36 37 38
(86,241,055) 1,295,384,729
(424,773,715) 1,814,490,773
(211,600,402) 1,086,561,571
722,148,215 (849,911,778) (515,494,969)
1,477,891,113 (339,914,955) 1,137,976,158
MUTUAL BENEFITS ASSURANCE PLC STATEMENTS OF CHANGES IN EQUITY FOR THE YEAR ENDED 30TH SEPTEMBER, 2015 COMPANY
Share capital '=N=
Balance as at 1/1/2015 Profit/(Loss) for the year Transfer to contigency reserve Revaluation surplus on PPE
4,000,000,000
Balance as at 30th September, 2015
4,000,000,000
Balance as at 30th September, 2014
4,000,000,000
PAGE 3
Other reserve
'=N=
Contigency reserve '=N=
Total =N=
276,495,819
(1,405,329,000) 1,086,561,572 (276,495,819)
5,548,649,000 1,086,561,572 -
1,288,313,000
1,942,160,819
(595,263,246)
6,635,210,572
1,288,563,000
1,526,667,576
(2,372,124,334)
4,443,106,242
1,288,313,000
1,665,665,000
Retained Earnings '=N=
MUTUAL BENEFITS ASSURANCE PLC
PAGE 3
STATEMENTS OF CHANGES IN EQUITY FOR THE YEAR ENDED 30TH SEPTEMBER, 2015
GROUP Share capital '=N=
Balance as at 1/1/2015
4,000,000,000
Other reserve
'=N=
1,288,313,000
Contigency reserve
'=N= Retained Earnings
2,024,085,000
(1,098,384,474) 1,426,847,883
302,743,734
(302,743,734)
Profit/(Loss) for the year Transfer to contigency reserve
'=N=Total =N=
Foreign currency transaction reserve
6,214,013,526 1,426,847,883 -
-
Balance as at 30th September, 2015
4,000,000,000
1,288,313,000
2,326,828,734
25,719,675
7,640,861,409
Balance as at 30th SEPTEMBER, 2014
4,000,000,000
1,288,313,000
1,459,272,000
(2,806,021,701)
3,941,563,299
Mutual Benefits Assurance Plc Statement of Cash Flows for the Period ended 30th September 2015
Cash Flow from Operating Activities Operating Cash Flow before Changes Working Capital Changes Net Cash Generated from Operating Activities Cash Flow from Investing Activities Cash Flow from Financing Activities Net Increase/Decrease Cash and Cash Equivalent Cash and Cash Equivalent Beginning of the Year Cash and Cash Equivalent End of the Year
Sep-15 N 11,937,789,366 (6,142,992,705) 5,794,796,661 558,417,246 (279,208,623) 6,074,005,284 7,277,407,462 13,351,412,746
Sep-14 % Change N 12,829,818,660 -7% (5,151,905,257) 19% 7,677,913,403 -25% (164,168,000) -127% (2,039,040,000) -105% 5,474,705,403 11% 1,802,702,059 304% 7,277,407,462 83%
