Page 143 - Continental Reinsurance 2022 Annual Report

Notes to the Consolidated and separate financial statement - continued 141

For the year ended 31 December 2022

43.2.2 Credit Risk

Credit quality of nancial assets per asset class-Company Loans and
other
At 31 December 2022 Cash and cash Reinsurance Debt securities
Neither past due nor impaired equivalents receivables receivables =N='000
Past due but not impaired =N='000 =N='000 17,782,034
Impaired 11,246,049 =N='000 344,469 -
Gross - 11,952,129 - 889,612
Impairment allowance - collective - 373,991 18,671,646
Net 11,246,049 3,871,708 718,460 (889,612)
- - (373,991) 17,782,034
11,246,049 344,469
15,823,837
31 December 2021 9,466,791 (165,973) 175,325 11,235,664
Neither past due nor impaired - - -
Past due but not impaired - 15,657,864 -
Impaired 373,991
Gross 9,466,791 9,469,996 549,316 11,235,664
Impairment allowance - collective - 1,930,748 (373,991) -
Net 175,325
9,466,791 238,545 11,235,664
12,517,651

(238,545)
12,279,106

(a) Financial assets neither past due nor impaired
The credit quality of the portfolio of insurance receivables and other loans and receivables, debt securities and other nancial asset exposed to
credit risk that were neither past due nor impaired can be assessed by reference to the capacity of the business to pay on written businesses. The
Group does not rate any of its nancial assets measured at amortised cost.

The assets above are analysed in the table below using Standard & Poors (S&P) rating (or equivalent when not available from S&P)

Group A+ A BBB- Below BBB Not rated
=N='000 =N='000 =N='000 =N='000 =N='000
At 31 December 2022 17,335,926 -
Cash and cash equivalents - - - -
Reinsurance receivables - - - - 46,341,505
Loans and other receivables - - - -
Other assets - - - 36,176,597 407,665
Retrocession assets - - - 36,176,597 886,699
Debt securities - 26,952,004 17,335,926
-
31 December 2021 - - 16,239,808 - -
Cash and cash equivalents - - - - 47,635,869
Reinsurance receivables - - - -
Loans and other receivables - - - - -
Other assets - - - 24,252,080 31,333,426
Retrocession assets 16,239,808 16,046,933 - 24,252,080
Debt securities 264,732
389,003

-
31,987,161

Company - - 11,246,049 --
At 31 December 2022
Cash and cash equivalents - -- - 19,234,086
Reinsurance receivables
Loans and other receivables - -- - 344,470
Other assets
Retrocession assets - -- - 2,219,532
Debt securities
- - - 17,782,034 -

- 5,944,876 11,246,049 17,782,034 21,798,088

31 December 2021 - - 9,466,791 - -
Cash and cash equivalents - - - - 12,279,107
Reinsurance receivables - - - -
Loans and other receivables - - - - 175,325
Other assets - - - 11,235,664 2,851,228
Retrocession assets 9,466,791 6,261,679 - 11,235,664
Debt securities -
15,305,660