Financial Year 2012-13 (27 MB) - The New India Assurance Co. Ltd.

Leadership and BeyondNote 2012 2011ASSETSProperty, plant and equipment 4 $ 44,296 1,674Investment property 5 - 25,440Deferred tax asset 6(i) 7,275 7,419Reinsurance assets 11 34,133 43,255Trade and other receivables 7 42,632 42,432Investments 8 62,205 61,157Term deposits 50,598 44,942Cash and cash equivalents 40,332 41,430EQUITY AND LIABILITIESEQUITYTHE NEW INDIA ASSURANCE COMPANY (TRINIDAD AND TOBAGO) LIMITEDStatement of Financial Position December 31, 2012(Expressed in thousands of Trinidad and Tobago dollars)Total assets $ 281.471 267.749Stated capital 9 $ 17,617 17,617Capital reserve 13,758 12,321Catastrophe reserve fund 1,600 1,600Statutory surplus reserve 8,552 8,552Retained earnings 92,672 83,090$ 134,199 123.180LIABILITIESInsurance contracts 11 $ 111,373 116,952Deferred tax liability 6 (iii) 5,076 4,620Provision for taxation 2,870 3,913Trade and other payables 12 27,953 19.084$ 147,272 144,569Total equity and liabilities $ 281.471 267,749The accompanying notes form an integral part of these financial statements.Signed on behalf of the BoardDirectorDirectorANNUAL REPORT239