Income and Expenditure account |
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For the Year ended December 31 2008 |
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Unit£ºUSD |
Items |
Notes |
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2008 |
2007 |
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Calls and premiums |
7 |
A |
6,312,722.94 |
5,965,006.06 |
|
Incurred Claims |
8 |
B |
3,128,148.00 |
1,409,914.39 |
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Other expenditure |
|
C |
819,440.63 |
115,132.63 |
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Brokerage |
|
|
119,199.97 |
27,121.47 |
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Operating expenses |
|
|
1,333,218.26 |
962,127.53 |
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Financial expenses thereinto: |
|
|
(632,977.60) |
(874,116.37) |
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Exchange profit & loss |
|
|
(3,983.54) |
(37,631.77) |
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Interest |
|
|
(638,741.38) |
(842,005.07) |
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Bank charges |
|
|
9,747.32 |
5,520.47 |
Surplus from operating activities |
A-B-C=D |
2,365,134.31 |
4,439,959.04 |
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Investment income |
4 |
E |
3,296,787.08 |
692,767.14 |
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Surplus for the year |
D+E=F |
5,661,921.39 |
5,132,726.18 |
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Reserves at beginning of year |
|
|
19,366,869.01 |
13,929,457.44 |
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Reserves at end of year |
¡¡ |
|
25,306,001.31 |
19,366,869.01 |
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