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 – – – – – Reinsurance contract liabilities as at 1 January 2022 (378,995) – – – (378,995) Net reinsurance contract (assets)/ liabilities as at 1 January 2022 (378,995) – – – (378,995) Reinsurance premium (1,353,970) (1,353,970) (9,919,571) Amounts recoverable from reinsurers for incurred claims 22,642 – 8,630,571 – 8,653,213 Amounts recoverable for incurred claims and other expenses – – 9,497,457 – 9,497,457 Amortisation of insurance acquisition cash flows 22,642 – – – 22,642 Changes to amounts recoverable for incurred claims – – (866,886) – (866,886) Total changes in the statement of comprehensive income (1,331,328) – 8,630,571 – 7,299,243 Cash flows Premiums paid 1,406,797 – – – 1,406,797 Amounts received – – (8,630,571) – (8,630,571) Insurance acquisition cash flows (51,249) – – – (51,249) Total cash flows 1,355,548 – (8,630,571) – (7,275,023) Net reinsurance contract assets/ (liabilities) as at 31 December 2022 (354,775) – – – (354,775) Reinsurance contract assets as at 31 December 2022 – – – – – Reinsurance contract liabilities as at 31 December 2022 (354,775) – – – (354,775) Net reinsurance contract assets/ (liabilities) as at 31 December 2022 (354,775) – – – (354,775) 123
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