|
Accounts:
INLAND CRAFT CLASS CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT
| For the year ended 20 February 1999 |
1998/99
Guilders
|
1997/98
Guilders
|
|
|
| Income |
|
|
| Premiums |
14,628,421
|
14,050,293
|
| Outward Reinsurance Premiums |
(5,181,893)
|
(5,460,291)
|
|
| |
9,446,528
|
8,590,002
|
| Income from Investments |
1,202,122
|
1,093,699
|
| Net Capital Profits on Investments |
2,795,257
|
1,474,953
|
| (Loss) / Gain on Exchange |
(56,992)
|
477,594
|
|
|
| |
13,386,915
|
11,636,248
|
|
|
|
Expenditure
|
|
|
| Claims Paid |
2,897,919
|
4,863,188
|
| Reinsurers' Share |
(1,116,572)
|
(1,875,951)
|
|
|
| |
1,781,347
|
2,987,237
|
| Acquisition Costs |
2,422,053
|
2,255,626
|
| Administrative Expenses |
2,413,120
|
2,195,636
|
| Taxation |
45,458
|
33,908
|
| Investment Management Charges |
53,751
|
41,832
|
|
|
| |
6,715,729
|
7,514,239
|
| Estimated Outstanding Claims at 20 February, 1999 |
9,981,420
|
7,024,425
|
| Less:Estimated Outstanding Claims at 20 February,
1998 |
(7,024,425)
|
(6,325,690)
|
|
| |
9,672,724
|
8,212,974
|
|
|
| Excess of Income over Expenditure |
3,714,191
|
3,423,274
|
| Transfer to Contingency Reserve |
(3,714,191)
|
(3,423,274)
|
|
| Balance at 20 February, 1999 |
-
|
-
|
|
|
|
