ECIC AR 2024 9TH

E

D

H

S

I

L I

N

B

2

0

A

0

T

S

1

E

Integrated Report 2024

E X P O R T C R E

L T D

O C

A S

C

R I

D I

F

T

A

I

N

H

S

T

U

U

R

O

A

S

N

F

C

O

E

N

C

O

O

I

R

T

P

A

O

R

Financial position

2023 Restated

2023 Original

Reclassifi cation

in R'000

2024

Assets Property and equipment

24 917

26 319

26 319

-

Deferred tax

-

-

110 679

(110 679)

Insurance acquisition costs

267 597

255 289

-

255 289

Financial assets at fair value

7 246 984

7 633 095

7 633 095

-

Insurance contract assets

1 191 281

619 232

-

619 232

Reinsurance contract assets

84 620

53 242

151 566

(98 324)

Current tax receivable

385 590

100 154

100 154

-

Other receivables

408 825

222 379

1 184 201

(961 822)

Cash and cash equivalents

1 077 021

2 355 461

2 355 461

-

Total assets

10 686 835

11 265 171

11 561 475

(296 304)

Equity and Liabilities Equity Share capital and share premium

316 051

316 051

316 051

-

Foreign currency translation reserve

4 684 041 4 082 860

3 829 797

253 063

FV adjs through OCI reserve

(134 784)

(71 307)

(71 307)

-

Retained income

3 661 688 4 164 045 2 532 481

1 631 564

Total equity

8 526 996 8 491 649 6 607 022

1 884 627

Liabilities Other payables

273 023

313 063

314 151

(1 088)

Liability for interest make-up

444 097

516 072

516 072

-

Derivatives

455

108 457

108 457

-

Lease liabilities

19 224

22 373

22 373

-

Deferred tax

178 582

491 946

-

491 946

Employee benefit liability

5 274

29 119

29 119

-

Reinsurance deferred acquisition cost

1 024

(1 024)

Insurance contract liabilities

1 239 184

1 292 492

3 963 257

(2 670 765)

2 159 839 2 773 522 4 954 453

(2 180 931)

Total Equity and Liabilities

10 686 835

11 265 171

11 561 475

(296 304)

YOUR EXPORT RISK PARTNER

107