Territory Insurance Office cont… Financial Position at year end TIO Insurance TIO & Banking MAC Fund (consolidated) 2013 2012 2013 2012 2013 2012 $’m $’m $’m $’m $’m $’m Assets 21 22 5 7 26 29 Cash and cash equivalents 61 59 3 2 64 61 Trade and other receivables 244 233 514 448 758 681 Other financial assets 1 2 - - 1 2 Intangible assets 531 522 - - 531 522 Loans 30 37 31 35 61 72 Reinsurance and other recoveries 14 14 34 33 48 47 Property, plant and equipment 23 21 - - 23 21 Deferred reinsurance expense 5 4 - - 5 4 Deferred acquisition costs - - - - - - Current tax assets 4 4 - - 4 4 Deferred tax assets 934 918 587 525 1,521 1,443 Total assets Liabilities (124) (140) (304) (331) (428) (471) Outstanding claims liability (27) (29) (4) (2) (31) (31) Trade and other payables (477) (502) - - (477) (502) Deposits (50) - - - (50) - Borrowings (7) (4) - - (7) (4) Tax liabilities (5) (5) - - (5) (5) Provisions (74) (69) (31) (28) (105) (97) Unearned premium liability (41) (53) - - (41) (53) Securitisation liabilities (805) (802) (339) (361) (1,144) (1,163) Total liabilities 129 116 248 164 377 280 Net assets includes inter-business unit’s debtor/creditors
Territory Insurance Office cont… Financial Position at year end TIO Insurance & Banking MAC Fund TIO (consolidated) 2013 2012 2013 2012 2013 2012 $’m $’m $’m $’m $’m $’m Assets Cash and cash equivalents 21 22 5 7 26 29 Trade and other receivables 61 59 3 2 64 61 Other financial assets 244 233 514 448 758 681 Intangible assets 1 2 - - 1 2 Loans 531 522 - - 531 522 Reinsurance and other recoveries 30 37 31 35 61 72 Property, plant and equipment 14 14 34 33 48 47 Deferred reinsurance expense 23 21 - - 23 21 Deferred acquisition costs 5 4 - - 5 4 Current tax assets - - - - - - Deferred tax assets 4 4 - - 4 4 Total assets 934 918 587 525 1,521 1,443 Liabilities Outstanding claims liability (124) (140) (304) (331) (428) (471) Trade and other payables (27) (29) (4) (2) (31) (31) Deposits (477) (502) - - (477) (502) Borrowings (50) - - - (50) - Tax liabilities (7) (4) - - (7) (4) Provisions (5) (5) - - (5) (5) Unearned premium liability (74) (69) (31) (28) (105) (97) Securitisation liabilities (41) (53) - - (41) (53) Total liabilities (805) (802) (339) (361) (1,144) (1,163) Net assets 129 116 248 164 377 280 includes inter-business unit’s debtor/creditors
2014_February.docx