Page 138 - Continental Reinsurance 2022 Annual Report

136 Notes to the Consolidated and separate financial statement - continued

For the year ended 31 December 2022

43.2 Financial risk management

The Group is exposed to a range of nancial risks through its nancial assets and liabilities.

The Group's principal nancial instruments are cash and cash equivalents, loans and receivables including reinsurance receivables, investment
securities held to maturity, investment securities available-for-sale, nancial asset designated at fair value through prot and loss and retrocession
contracts.

In particular the key nancial risk is that the proceeds from its nancial assets are not sufcient to fund the obligations arising from its insurance
contracts.

The main risks arising from these nancial instruments are interest rate risk, foreign currency risk, credit risk, market price risk and liquidity risk.
The Board reviews and approves an investment policy to manage these risks on an annual basis.

Maturity analysis on expected maturity basis Current Non-current Total
Group =N='000 =N='000 =N='000
At 31 December 2022 17,335,926 - 17,335,926
Cash and cash equivalents 215,185
Loans and other receivables 192,480 595,753 407,665
Available-for-sale investments 477,504 32,935,026 1,073,257
Held to maturity investments 3,206,149 36,718,766 36,141,175
Reinsurance receivables 9,622,738 - 46,341,505
Retrocession assets 26,952,005 - 26,952,005
Deferred acquisition costs 10,045,012 - 10,045,012
Other assets 886,700 5,201,836
Investment properties 84,470 886,700
Intangible assets - 2,922,176 5,201,836
Property, plant and equipment - 1,000,000
Statutory deposits - 79,673,212 84,470
Total assets - 2,922,176
68,718,515 1,000,000
Liabilities 148,391,727
Insurance contract liabilities
Reinsurance creditors 83,426,036 - 83,426,036
Other liabilities 9,680,733 - 9,680,733
Retirement benet obligations 2,863,200 - 2,863,200
Current income tax - 1,115,108 1,115,108
Deferred taxation 808,489 - 808,489
Total liabilities - 359,798 359,798
1,474,906
96,778,458 98,253,364