Karafarin Insurance: Consolidated Balance Sheet - 20 March 2016

Transcription

1. Consolidated Balance Sheet as of March 20 , 2016 (Revised) Assets Cash Karafarin Insurance 455,313 1,049,953 3,829,548 Receivables from policyholders & agents 1,287,568 1,403,604 Receivables from insurers & reinsurers 252,297 482,202 Other receivable accounts & documents 128,133 401,121 Reinsurers share of technical reserves 4,667,133 6,142,495 Long – term receivables 1,005,226 1,290,007 Long – term investments 2,777,759 2,788,810 Tangible fixed assets 1,831,793 1,595,675 1,344 1,426 Total assets 14,695,143 18,984,841 Liabilities 20/03/2015 20/03/2016 113,359 128,974 Payable to insurers & reinsurers 181,964 584,945 Other payable accounts & documents 230,158 118,254 Tax reserves ‫انتخـــاب حق شمـاست‬ Our Pride Is To Be Your Choice w w w. k a r a f a r i n - i n s u r a n c e . i r 3,141 3,141 Dividends payable 270,965 7,922 Premium reserves 10,308,814 14,064,759 Outstanding loss & unexpired risk reserves 725,708 958,232 Other technical reserves 440,162 554,581 Unearned premium 78,976 153,074 Reserve for employees unused vacation 51,980 70,208 547,729 168,258 12,952,956 16,812,348 Other liabilities Total liabilities No. 5, 17th. Alley, Ghasir (Bucharest) St. Tehran 1513846911, Iran +9821. 42594 karafarin@karafarin-insurance.ir 20/03/2016 2,288,577 Payable to policyholders & agents ‫تهران میدان آرژانتین‬ 5 ‫ شماره‬17 ‫خیابان قصیر(بخارست) کوچه‬ 021-42594 20/03/2015 Short – term investments Intangible assets 2015-2016 Million IR Rials Equity Capital 20/03/2015 20/03/2016 1,200,000 1,200,000 0 300,000 92,859 102,914 Capital reserves 114,660 134,770 Accumulated profit 334,668 434,809 1,742,187 2,172,493 14,695,143 18,984,841 Capital increase(under process) Legal reserves Total equity Total equity & liabilities
2. Million IR Rials (Revised) Profit & Loss Statement as of March 20, 2016 Gross written premiums Change in premiums reserve Deputies Gross earned premiums Premiums ceded to reinsurers Nosratollah Zamani Branches Sales Network Javad Sahamian Moghaddam Executive Gholam Ali Gholami First Deputy Fereydoon Khalili Fard Universal Life Sa`id Nasiri Life Parviz Moogoo`i Property & Liability Mostafa Farahani Planning & Budget Hamid Dianat Paey Accounts Neda Vali`i Cargo Elnaz Kiani Universal Life Orooj Garroosi Car Sareh Alavi Medical & Accident Farhad Mo`ezzi Legal (478,054) Net earned premium 2,096,453 2,593,268 Gross claims & benefits paid 2,033,851 2,410,509 Change in reserves for claims & benefits Claims & benefits paid Change in reserves for outstanding recoveries from reinsurers Net recoveries from reinsurers Deputy Director, Reinsurance​: ​Miss F.​ ​Farakesh Tel: ​+982142563176 Email: ali_zarrabi@karafarin-insurance.ir 232,524 (2,643,033) (592,552) (508,987) (31,436) 65,426 623,988 443,561 (1,539,458) (2,199,472) 778,538 923,290 (290,684) (297,512) Net Commission & profit commission expenses (487,854) (625,778) 46,575 114,419 200,353 208,446 Other insurance operating expenses and earnings 9,218 (3,153) Net other income (expense) of insurance operation (256,146) (319,712) Investment income from technical reserves 722,229 982,731 Gross profit from reinsurers operations 535,224 431,037 Change in other types of technical reserves Payments as ruled by the motor T.P.L law Operating profit Net change in non-insurance earnings & expenses Tax Mr. Mohammad Ali Zarrabi​ 129,595 (2,163,446) Commission income & commission earned from reinsurance Profit (loss) before tax Reinsurance & International Director: 3,071,322 (663,369) Net premiums ceded to reinsurers General & administrative expenses Niloofar Naderi ICT (4,147,254) 2,759,822 2,223,190 Other investment income from other sources Mohammad Jami Administration (3,298,673) (1,745,136) Commission of profit & commission expenses Vali`ollah Taherian Engineering & Liability 7,218,576 2,088,294 Net claim & benefits paid Directors 20/03/2016 6,058,495 (1,424,925) Change in reserves for ceded premiums Gross recoveries from reinsurers A. Majid Rafe`a Hagh Nejad Finance & Administration 20/03/2015 Profit (loss) after tax Earnings (loss) per share (IR Rials) Non-operating earnings (loss) per share (IR Rials) Total earnings (loss) per share (Rials) 183,208 132,187 (456,609) (494,854) 261,823 68,370 62,872 132,736 324,695 201,106 0 0 324,695 201,106 218 57 52 111 271 168 Board of Directors ‫محمد مهدی تابع قانون‬ ‫نایب رئیس هیئت مدیره‬ ‫شرکت کار و اندیشه‬ Mohammad Mehdi Tabe Ghanoun Vice Chairman (Kar-va- Andisheh Company) ‫علی آزاد‬ ‫رئیس هیئت مدیره‬ ‫شرکتتضمین‬ ‫عبدالمحمودضرابی‬ ‫مدیرعامل و عضو هیئت مدیره‬ Chairman Ali Azad (Tazmin Company) Abdolmahmoud Zarrabi CEO & Managing Director Member ‫غالمعلی غالمی‬ ‫قائم مقام مدیرعامل‬ Ali Roosta ‫ علی روستا‬Member ‫( عضو هیئت مدیره‬Termoven Company) )‫ عضو هیئت مدیره (شرکت همپا‬Gholam Ali Gholami ‫شرکت ترموون‬ ‫علیرضاحجتی‬ ‫عضو هیئت مدیره‬ ‫شرکت جهان پارس‬ Alireza Hojjati Member (Jahan Pars Company) Member (Hampa Company) ‫غالمرضا صادق ویشکایی‬ ‫عضو هیئت مدیره‬ Member ‫بانککارآفرین‬ Gholamreza Sadegh Wishka`ee (Bank of Karafarin) ‫سید محمد مهدی علوی‬ ‫مشاور عالی هیئت مدیره‬ S. M. Mehdi Alavi Senior Advisor Reinsurance & International Department Karafarin Insurance Company (KIC) is permitted to accept or cede reinsurance business. According to the Iranian regulations, all insurance companies are obliged to cede 25% and 15% of their earned premium in, respectively, life and non-life classes of business to Bimeh Markari Iran (CIIRI). But as a reforming measure for insurance industry in Iran, the Iranian Parliament has recently passed a law, obliging the CIIRI to gradually decrease the obligatory cession share from insurance companies. The obligatory cession of Karafarin Insurance Company earned premium to the CIIRI, with an increase of 3.1% relative to the previous financial year, reached IR Rials 1,920,445 million. Other part of KIC reinsurance business was done in a non-mandatory framework. It amounted to IR Rials 302,745 million, showing a yearly increase of 34%. Inward reinsurance business is an increasing part of KIC reinsurance operations too, as it has it increased to IR Rials 14,796 million.