NOTES TO F I NANC I AL STATEMENTS 20. SEGREGATED ACCOUNT On November 18, 2022, the Company received approval to be registered as a segregated accounts company under the Segregated Accounts Companies Act 2000, as amended (SAC Act). This facilitate the establishing of the segregated account designated as the Outbreaks and Epidemics Segregated Account (“O&E Segregated Account”) to provide a fully funded cell through which to underwrite O&E Program insurance policies. The Company must keep the O&E Program funding separate since it is funded by a different donor agency compared to the other insurance program written by the Company. Figures in USD GENERAL CELL O&E CELL CONSOLIDATED ASSETS Fixed assets 205,452 – 205,452 Prepaid expenses 348,685 – 348,685 Other receivable 27,666 – 27,666 Reinsurance assets 2,695,689 460,454 3,156,143 Insurance receivables – – – Accrued investment income 752,033 – 752,033 Marketable investments 315,675 – 315,675 Investment in Pula Advisors GmbH 57,145,066 – 57,145,066 Cash and cash equivalents 35,871,512 590,247 36,461,759 Total Assets 9 7,361,778 1,050,701 98,412,479 LIABILITIES Class C Members’ Returnable Capital 70,747,283 – 70,747,283 Insurance contract liabilities 27,006,365 503,576 27,509,941 Reinsurance contract liabilities – – – Deferred income - other – 433,297 433,297 Investment payables – – – Accounts payable and accrued liabilities 7,859,162 66,503 7,925,665 Total Liabilities 1 05,612,810 1,003,376 106,616,186 MEMBERS’ EQUITY Reserve fund 250,000 – 250,000 Retained (deficit)/equity (24,104,326) 47,325 (24,057,001) Accumulated other comprehensive income: Class C Members’ equity grant 15,603,294 – 15,603,294 Total Members’ Equity (8,251,032) 47,325 (8,203,707) Total Liabilities and Members’ Equity 97,361,778 1,050,701 98,412,479 135
RkJQdWJsaXNoZXIy MTM3NDM0