Page 140 - Continental Reinsurance 2022 Annual Report

138 Notes to the Consolidated and separate financial statement - continued

For the year ended 31 December 2022

43.2 Financial risk management (continued) Current Non-current Total
=N='000 =N='000 =N='000
Maturity analysis 9,466,791 - 9,466,791
60,695
Company 114,630 575,163 175,325
At 31 December 2021 593,400 9,347,395 1,168,563
Cash and cash equivalents 1,888,269 3,812,785 11,235,664
Loans and other receivables 8,466,322 - 12,279,107
Available-for-sale investments 6,261,679 - 6,261,679
Held to maturity investments 3,548,781 - 3,548,781
Reinsurance receivables 2,929,146 1,826,200 2,929,146
Retrocession assets 121,470 1,826,200
Deferred acquisition costs - 1,752,803
Other assets - 1,000,000 121,470
Investment properties - 6,123,109 1,752,803
Intangible assets - 1,000,000
Property, plant and equipment - 24,619,620 6,123,109
Statutory deposits 33,269,018 57,888,638
Investment in subsidiary
Total assets 25,400,102 - 25,400,102
1,795,850 - 1,795,850
Liabilities 1,605,133 - 1,605,133
Insurance contract liabilities - 384,408 384,408
Reinsurance creditors 536,867 - 536,867
Other liabilities - 287,149 287,149
Retirement benet obligations 671,557
Current income tax 29,337,952 30,009,509
Deferred taxation
Total liabilities

43.2. 1 Sensitivities
The sensitivity analysis below are based on a change in one assumption while holding all other assumptions constant. In practice this is unlikely to
occur, and changes in some of the assumptions may be correlated - for example, change in interest rate and change in market values.

(a) Sensitivity analysis - interest rate risk
The Group denes interest rate risk as the risk of loss arising from changes in interest rates that will affect future protability or fair values of
nancial instruments. The Group is exposed to this risk on some of its investments and mitigates this risk by actively monitoring changes in interest
rate in all countries where it has cash and interest-bearing investments.

The sensitivity analysis for interest rate risk illustrates how changes in the fair value or future cash ows of a nancial instrument will uctuate
because of changes in market interest rates at the reporting date.

A 100 basis point movement in interest rates will result in additional gross interest income or loss for the Group of =N=174.85 million and
Company =N=114.42 million (2021: Group =N=136.142million and Company =N=74.409million).

(b) Sensitivity analysis - Market price risk
Market risk is the risk that the value of a nancial asset will uctuate as a result of change in market prices (other than those arising from interest
rate risk and currency risk) whether those changes are caused by factors specic to the individual security or its issuer or factors affecting the all
securities traded in a market.

The Group equity price risk exposure relates to nancial assets whose value uctuate as a result of changes in market prices. The Group also has
unquoted equities classied as available-for-sale whose fair value is determined using a valuation technique because of the lack of active market for
these instruments.

The sensitivity analysis for equity price risk illustrates how changes in the fair value of equity securities will uctuate because of changes in market
prices, whether those changes are caused by factors specic to the individual equity issuer, or factors affecting all similar equity securities traded in
the market.