NOTES TO FINANCIAL STATEMENTS NOTES TO F I NANC I AL STATEMENTS 11.2.4. Outbreaks and Epidemics The roll–forward of the net asset or liability for reinsurance contracts held showing assets for remaining coverage and amounts recoverable on incurred claims arising on O&E insurance ceded to reinsurers is disclosed in the table below: 31 DECEMBER 2023 ASSETS FOR REMAINING COVERAGE AMOUNTS RECOVERABLE ONINCURRED CLAIMS TOTAL Figures in USD EXCLUDING LOSS– RECOVERY COMPONENT LOSS– RECOVERY COMPONENT ESTIMATES OF THE PRESENT VALUE OF FUTURE CASH FLOWS RISK ADJUSTMENT Reinsurance contract assets as at 1 January 2023 – – 19,099 – 19,099 Reinsurance contract liabilities as at 1 January 2023 (21,559) – – – (21,559) Net reinsurance contract (assets)/ liabilities as at 1 January 2023 (21,559) – 19,099 – (2,460) Reinsurance premium (508,065) – – – (2,703,104) Amounts recoverable from reinsurers for incurred claims 45,219 – (52) – 45,167 Amounts recoverable for incurred claims and other expenses – – – – – Amortisation of insurance acquisition cash flows 45,219 – – – 45,219 Changes to amounts recoverable for incurred claims – – (52) – (52) Total changes in the statement of comprehensive income (462,846) – (52) – (462,898) Cash flows Premiums paid 971,036 – – – 971,036 Amounts received – – – – – Insurance acquisition cash flows (45,224) – – – (45,224) Total cash flows 925,812 – – – 925,812 Net reinsurance contract assets/ (liabilities) as at 31 December 2023 441,407 – 19,047 – 460,454 Reinsurance contract assets as at 31 December 2023 441,407 – 19,047 – 460,454 Reinsurance contract liabilities as at 31 December 2023 – – – – – Net reinsurance contract assets/ (liabilities) as at 31 December 2023 441,407 – 19,047 – 460,454 126
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