NOTES TO FINANCIAL STATEMENTS NOTES TO F I NANC I AL STATEMENTS 11.1.4. Outbreaks and Epidemics The roll-forward of the net asset or liability for insurance contracts issued, showing the liability for remaining coverage and the liability for incurred claims for O&E product line, is disclosed in the table below: 31 DECEMBER 2023 LIABILITIES FOR REMAINING COVERAGE LIABILITIES FOR INCURRED CLAIMS TOTAL Figures in USD EXCLUDING LOSS COMPONENT LOSS COMPONENT ESTIMATES OF THE PRESENT VALUE OF FUTURE CASH FLOWS RISK ADJUSTMENT Insurance contract liabilities as at 1 January 2023 484,464 – – 19,099 503,563 Insurance contract assets as at 1 January 2023 – – – – Net insurance contract (assets)/ liabilities as at 1 January 2023 484,464 – – 19,099 503,563 Insurance revenue (508,065) – – (508,065) Insurance service expenses – – (52) – (52) Incurred claims and other expenses – – – – – Amortisation of insurance acquisition cash flows – – – – – Changes that relate to past service – adjustments to the LIC – – (52) – (52) Total changes in the statement of comprehensive income (508,065) – (52) – (508,117) Cash flows 508,130 – – – 508,130 Premium received 508,130 – – – 508,130 Claims and other expenses paid – – – – – Insurance acquisition cash flows – – – – – Net insurance contract (assets)/ liabilities as at 31 December 2023 484,529 – (52) 19,099 503,576 Insurance contract liabilities as at 31 December 2023 484,529 – – 19,099 503,628 Insurance contract assets as at 31 December 2023 – – (52) – (52) Net insurance contract (assets)/ liabilities as at 31 December 2023 484,529 – (52) 19,099 503,576 118
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