Annual Report & Accounts 2008
Consolidated balance sheet
Warning: cannot find specified Chunk.
Consolidated balance sheet as at 31 December 2008
| Notes | 2008
$m | 2007
$m |
| Assets |
|
|
|
|---|
| Cash and cash equivalents |
10 |
413.6 |
737.3 |
|---|
| Accrued interest receivable |
14 |
10.1 |
9.8 |
|---|
| Investments |
|
|
|
|---|
| – Fixed income securities |
|
|
|
|---|
| – Available for sale |
11 |
1,595.4 |
1,069.7 |
|---|
| – At fair value through profit and loss |
11 |
4.0 |
23.5 |
|---|
| – Equity securities |
|
|
|
|---|
| – Available for sale |
11 |
5.8 |
71.6 |
|---|
| – Other investments |
11, 20 |
– |
4.4 |
|---|
| Investment in associate |
12 |
– |
22.9 |
|---|
| Reinsurance assets |
|
|
|
|---|
| – Unearned premium on premium ceded |
13 |
10.0 |
19.6 |
|---|
| – Reinsurance recoveries |
13, 14 |
42.1 |
3.6 |
|---|
| – Other receivables |
13, 14 |
3.2 |
8.2 |
|---|
| Deferred acquisition costs |
15 |
60.9 |
57.8 |
|---|
| Other receivables |
14 |
154.0 |
3.8 |
|---|
| Inwards premium receivable from insureds and cedants |
14 |
187.3 |
198.2 |
|---|
| Deferred tax asset |
9 |
1.2 |
2.0 |
|---|
| Property, plant and equipment |
18 |
1.4 |
2.3 |
|---|
| Total assets |
|
2,489.0 |
2,234.7 |
|---|
| Liabilities |
|
|
|
|---|
| Insurance contracts |
|
|
|
|---|
| – Losses and loss adjustment expenses |
13 |
528.8 |
179.6 |
|---|
| – Unearned premiums |
13 |
339.6 |
381.8 |
|---|
| – Other payables |
13, 16 |
17.6 |
16.5 |
|---|
| Amounts payable to reinsurers |
13, 16 |
2.0 |
5.7 |
|---|
| Deferred acquisition costs ceded |
17 |
1.9 |
3.1 |
|---|
| Other payables |
16 |
190.3 |
296.2 |
|---|
| Corporation tax payable |
8 |
– |
1.2 |
|---|
| Interest rate swap |
20 |
4.9 |
2.2 |
|---|
| Accrued interest payable |
19 |
0.4 |
0.5 |
|---|
| Long–term debt |
19 |
130.8 |
132.3 |
|---|
| Total liabilities |
|
1,216.3 |
1,019.1 |
|---|
| Shareholders’ equity |
|
|
|
|---|
| Share capital |
21, 22 |
91.1 |
91.1 |
|---|
| Treasury shares |
21 |
(58.0) |
– |
|---|
| Share premium |
|
60.1 |
49.5 |
|---|
| Contributed surplus |
27 |
754.8 |
754.8 |
|---|
| Fair value and other reserves |
3, 11 |
27.6 |
20.7 |
|---|
| Retained earnings |
|
397.1 |
299.5 |
|---|
| Total shareholders’ equity attributable to equity shareholders |
|
1,272.7 |
1,215.6 |
|---|
| Total liabilities and shareholders’ equity |
|
2,489.0 |
2,234.7 |
|---|
The consolidated financial statements were approved by the Board of Directors on 10 March 2009 and signed on its behalf by:
| Martin Thomas |
|
Neil McConachie |
|
Most computers will open PDF documents automatically, but you may need to download Adobe Reader.