Page 121 - Continental Reinsurance 2022 Annual Report

Notes to the Consolidated and separate financial statement - continued 119

For the year ended 31 December 2022

The condensed financial data of the consolidated entities as at 31 December 2021, are as follows: Continental Continental Continental
Reinsurance Reinsurance Reinsurance
Condensed statement of profit or loss and other comprehensive income
Limited, Limited, Limited,
Revenue Douala Kenya Botswana
=N='000 =N='000
Profit before income tax =N='000
Income tax
Profit after tax 5,708,184 12,710,501 7,004,710

Condensed statement of financial position 640,304 1,932,147 1,564,255
(120,028) (553,937) (345,578)
Cash and cash equivalents 520,276 1,378,210 1,218,677
Financial assets
4,266,306 1,310,115 1,964,685
-Financial asset designated as fair value
through profit or loss - - -
100,483 23,054 13,782
-Loans and other receivables 35,783
-Available-for-sale investments - 6,873,848 -
-Held to maturity investments 262,968 6,630,361 1,042,376
Reinsurance receivables 3,122,151 2,025,897 4,750,430
Retrocession assets 1,285,223 1,232,308 2,078,204
Deferred acquisition costs 534,330 10,599 1,238,303
Other assets 588,597 95,923
Right of use of Asset 637,403
Investment properties - - 32,902
Intangible assets 23,227 -
Property, plant and equipment - -
Statutory deposits 1,185,720 21,323
Total assets
11,345,778 18,261,115 11,779,408
Liabilities
Insurance contract liabilities 5,389,336 10,000,877 6,013,217
Reinsurance creditors 345,852 205,731 1,260,556
Other liabilities 79,895
Lease liability 2,924,507 114,518 422,605
Retirement benefit obligations - 73,799 33,013
Current income tax payable 7,812 11,061
Deferred tax liabilities 77,826 64,899 63,821
Equity 127,958
Total liabilities and equity 7,713,588 (46,995)
11,967 18,261,119 4,022,129
Cashflows from operating activities 5,321,140 11,779,407
Cashflows from investing activities 14,198,586
Cashflows from financing activities
(2,255,399) 1,482,433 (124,858)
Net increase/(decrease) in cash and cash equivalents 1,698,549 (129,985) (324,959)
Cash and cash equivalent, beginning of year - (1,788,867)
Cash and cash equivalent, end of year -

(556,850) 1,352,448 (2,238,685)
1,280,676 1,030,401 3,476,085
2,382,849 1,237,401
723,826