Income And Expenditure Account
For the year ended February 20 2005
					Unit：USD
				Total			P&I			FDD
Items		Notes		2004/2005	2003/2004		2004/2005	2003/2004		2004/2005	2003/2004
Calls and premiums		5	A	15,681,707.24	13,482,833.37		15,608,348.75	13,382,771.80		73,358.49	100,061.57
Claims		6	B	10,033,617.37	10,746,660.19		10,007,697.85	10,746,660.19		25,919.52
Other expenditure			C	2,378,081.28	2,922,892.84		2,368,610.85	2,909,821.93		9,470.43	13,070.91
(1)	Loss prevention			28,768.21	99,016.19		28,768.21	99,016.19
(2)	Brokerage			358,192.29	324,876.07		354,590.54	319,810.09		3,601.75	5,065.98
(3)	Operating expenses			1,977,204.01	1,794,401.64		1,971,335.33	1,786,396.71		5,868.68	8,004.93
(4)	Financial expenses thereinto:			(5,415.07)	704,598.94		(5,415.07)	704,598.94		-	-
	Exchange profit & loss			5,181.88	(35,313.22)		5,181.88	(35,313.22)
	Interest			(43,147.32)	734,226.14		(43,147.32)	734,226.14
	Bank charges			32,550.37	5,686.02		32,550.37	5,686.02
(5)	Others			19,331.84	-		19,331.84	-		-	-
Surplus from operating activities		D=A-B-C		3,270,008.59	(186,719.66)		3,232,040.05	(273,710.32)		37,968.54	86,990.66
Investment income		7	E	8,430,132.22	22,302,809.00		8,420,496.15	22,299,050.54		9,636.07	3,758.46
Surplus for the year		F=D+E		11,700,140.81	22,116,089.34		11,652,536.20	22,025,340.22		47,604.61	90,749.12
Transfers to liabilities provision		8	G	(8,809,823.36)	3,758,238.01		(8,860,040.36)	3,702,238.01		50,217.00	56,000.00
Transfers to reserves		H=F-G		20,509,964.17	18,357,851.33		20,512,576.56	18,323,102.21		(2,612.39)	34,749.12
Liabilities provision at beginning of year			I	48,941,597.00	45,183,358.99		48,885,597.00	45,183,358.99		56,000.00	0.00
Liabilities provision at end of year			I+G	40,131,773.64	48,941,597.00		40,025,556.64	48,885,597.00		106,217.00	56,000.00
Reserves at beginning of year			J	73,767,890.71	55,202,968.66		73,639,641.15	55,109,468.22		128,249.56	93,500.44
Reserves at end of year		9	J+H	95,158,565.96	73,767,890.71		95,032,928.79	73,639,641.15		125,637.17	128,249.56