NOTES TO F I NANC I AL STATEMENTS 11.2.1. Drought (continues) 31 DECEMBER 2022 ASSETS FOR REMAINING COVERAGE AMOUNTS RECOVERABLE ON INCURRED CLAIMS TOTAL Figures in USD EXCLUDING LOSS- RECOVERY COMPONENT LOSSRECOVERY COMPONENT ESTIMATES OF THE PRESENT VALUE OF FUTURE CASH FLOWS RISK ADJUSTMENT Reinsurance contract assets as at 1 January 2022 – – 14,913,228 2,047,775 16,961,003 Reinsurance contract liabilities as at 1 January 2022 (2,559,849) – – – (2,559,849) Net reinsurance contract (assets)/ liabilities as at 1 January 2022 (2,559,849) – 14,913,228 2,047,775 14,401,154 Reinsurance premium (9,919,571) – – – (9,919,571) Amounts recoverable from reinsurers for incurred claims 1,061,017 – 339,640 (2,047,775) (647,118) Amounts recoverable for incurred claims and other expenses – – (2,586,344) (2,047,775) (4,634,119) Amortisation of insurance acquisition cash flows 1,061,017 – – – 1,061,017 Changes to amounts recoverable for incurred claims – – 2,925,984 – 2,925,984 Total changes in the statement of comprehensive income (8,858,554) – 339,640 (2,047,775) (10,566,689) Cash flows Premiums paid 12,681,366 – – – 12,681,366 Amounts received – – (15,252,868) – (15,252,868) Insurance acquisition cash flows (733,591) – – – (733,591) Total cash flows 11,947,775 – (15,252,868) – (3,305,093) Net reinsurance contract assets/ (liabilities) as at 31 December 2022 529,372 – – – 529,372 Reinsurance contract assets as at 31 December 2022 529,372 – – – 529,372 Reinsurance contract liabilities as at 31 December 2022 – – – – – Net reinsurance contract assets/ (liabilities) as at 31 December 2022 529,372 – – – 529,372 121
RkJQdWJsaXNoZXIy MTM3NDM0