Page 146 - Continental Reinsurance 2022 Annual Report

144 Notes to the Consolidated and separate financial statement - continued

For the year ended 31 December 2022

0 - 30 days 31 - 90 days 91 - 180 days 181 - 365 days Over 1 year Total
=N='000 =N='000
=N='000 =N='000 =N='000 =N='000
- 3,110,439
Financial liabilities 453,432 133,982 152,086 365,655 2,458,716 1,718,486
Outstanding claims 453,432 316,470 336,454 487,659 124,471 4,828,925
Other liabilities 450,452 488,540 853,314
Total nancial liabilities 2,583,187

The unpaid claims as at end of the year is due to incomplete documentation by the insured and cedants. By practice, all claims with complete
documentation are paid within 72 hours

31 December 2021 2,819,841 6,295,793 766,705 - - 9,882,339
Financial assets 3,294,697 476,343 1,205,436 820,451 6,482,180 12,279,107
Cash and cash equivalents 43,532
Reinsurance receivables - 564,432 7,645 63,453 60,695 175,325
Loans and other receivables 41,212 597,543 423,127 1,765,463 134,912 2,929,146
Other assets 1,428,764 419,202 876,453 1,765,353 1,593,566 6,261,679
Retrocession assets 100,288 - 1,828,260 12,749,994 15,648,154
Debt Securities at amortised cost 550,410
Debt Securities at available for sale - 8,396,845 - - - -
Total relevant nancial 7,684,802 5,107,625 21,021,348 47,175,749
assets 4,965,130

Financial liabilities 103,000 122,098 679,635 50,000 1,865,289 2,820,022
Outstanding claims 314,595 336,795 227,564 402,637 323,542 1,605,133
Other liabilities 417,595 458,893 907,199 452,637 4,425,155
Total nancial liabilities 2,188,831

43.3 Fair value of nancial assets and liabilities Carrying Fair Value
(a) Financial instruments not measured at fair value value
Level 1 Level 2 Level 3 Fair value
Group =N='000 =N='000 =N='000
31 December 2022 =N='000 =N='000
Financial assets 17,335,926 - 17,335,926
Cash and cash equivalents 46,341,505 - 17,335,926 - 46,341,505
Reinsurance receivables - - 46,341,505
Loans and other receivables 407,665 - - 407,665
Retrocession assets 26,952,004 - - 407,665 26,952,004
Other assets - 26,952,004
Held to maturity 769,298 - 769,298
Debt instruments - 769,298
36,141,175 36,141,175
Financial liabilities 127,947,573 - 36,141,175 - 127,947,573
Reinsurance creditors - 53,477,101 74,470,471
Other liabilities 9,680,733 - 9,680,733
2,863,201 - 9,680,733 2,863,201
Group 12,543,934 Level 1 - 2,863,201 12,543,934
31 December 2021 =N='000 - 12,543,934
Financial assets Carrying
Cash and cash equivalents value - Level 2 Level 3 Fair value
Reinsurance receivables - =N='000 =N='000 =N='000
Loans and other receivables =N='000 -
Retrocession assets - 16,239,808 - 16,239,808
Other assets 16,239,808 - 0 31,333,426 31,333,426
Held to maturity 31,333,426 0
Debt instruments - 0 264,732 264,732
264,732 - 0 16,046,933 16,046,933
Financial liabilities 16,046,933
Reinsurance creditors - 24,231,490 196,548 196,548
Other liabilities 196,548 - 40,471,298
- - 24,231,490
24,231,490 - 47,841,639 88,312,937
88,312,937 -
- 4,561,180 4,561,180
4,561,180 1,323,252 1,323,252
1,323,252 5,884,432 5,884,432
5,884,432