Page 149 - Continental Reinsurance 2022 Annual Report

Notes to the Consolidated and separate financial statement - continued 147

For the year ended 31 December 2022

Description Fair value at Valuation Observable Fair value if Fair value Relationship of
31 December Technique Inputs inputs if inputs unobservable
Investment in Aveni 2021 increased by decreased by inputs to
Reinsurance N'000 5% 5%
N'000 N'000
Investment in Uganda
Reinsurance 331,874 Adjusted fair Median of P/B 348,468 315,281 The higher the
value multiples of illiquidity ratio
Investment in Africa comparison comparable and the earnings
Reinsurance approach companies per share haircut
adjustment the
Investment in Imperial homes lower the fair
value.
Ivestment in Food Concept
137,377 Adjusted fair Median of P/B 144,246 130,508 The higher the
value multiples of 43,712 39,549 illiquidity ratio
comparison comparable 41,505 and the earnings
approach companies 37,552 per share haircut
adjustment the
41,631 Adjusted fair Median of P/B lower the fair
value multiples of value.
comparison comparable
approach companies The higher the
illiquidity ratio
39,528 Adjusted fair Median of P/B and the earnings
value multiples of per share haircut
comparison comparable adjustment the
approach companies lower the fair
value.

The higher the
illiquidity ratio
and the earnings
per share haircut
adjustment the
lower the fair
value.

12,268 This are fully This are fully 12,881 11,654 This are fully
impaired asset impaired asset impaired asset

Group Level 1 Level 2 Level 3 Total
31 December 2022 =N='000 =N='000 =N='000 =N='000
Financial assets
Financial assets designated at fair value - - - -
Available for sale investments -
173,610 19,892 - 19,892
Debt investments 173,610 247,784 - 421,395
Quoted equity investments 631,971 631,971
Unquoted equity investments - 631,971 1,073,258
267,676
31 December 2021
Financial assets - - - -
Financial assets designated at fair value -
Available for sale investments 20,590 - - 20,590
175,514 416,619 - 592,133
Debt investments 576,429 576,429
Quoted equity investments 196,104 - 576,429 1,189,153
Unquoted equity investments 416,619