SA Eagle Annual Report 2006
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Blocks   Balance Sheets   Blocks

as at 31 December 2006
  Group Company
    2006   2005   2006  2005 
  Note   R000   R000   R000  R000 
Assets          
Property and equipment 5   68,476   55,104   63,181  53,576 
Investment property 6.1   9,641   10,946   –  – 
Investment in subsidiaries 6.2   –   –   75,138  77,107 
Investment in associates 6.3   3,295   3,317   –  – 
Financial assets          
– Available-for-sale 6.4   678,650   557,215   628,830  546,837 
– At fair value through income 6.5   379,761   429,658   379,705  429,658 
– Loans and receivables 7   117,814   216,983   88,789  187,278 
Retirement benefit fund surplus 8.1   230,764   –    230,764  – 
Assets arising from reinsurance contracts 11   605,614   529,013   543,145  401,420 
Intangible insurance assets – deferred acquisition costs 12   98,736   134,200   98,736  93,600 
Taxation asset   34,811   31,677   31,645  30,303 
Agents and other insurance receivables   896,053   871,560   807,837  828,891 
Cash and cash equivalents 13   1,482,314   1,017,528   709,198  387,886 
Total assets   4,605,929   3,857,201   3,656,968  3,036,556 
           
Equity          
Share capital 14   3,045   3,045   3,045  3,045 
Share premium 15   1,605   1,605   1,605  1,605 
Non-distributable reserve   434,474   369,716   420,880  374,780 
Translation reserve   (84,336)  (45,855)  –  – 
Statutory contingency reserve   313,643   269,372   292,302  261,019 
Retained profit   1,090,502   914,066   886,096  729,602 
Shareholders’ equity   1,758,933   1,511,949   1,603,928  1,370,051 
Minority shareholders’ interest in subsidiaries   13,043   3,147   –  – 
Total equity   1,771,976   1,515,096   1,603,928  1,370,051 
           
Liabilities          
Employee benefits 8.2   47,403   43,069   47,403  43,069 
Retirement benefit fund change provision 8.1   132,521   –   132,521  – 
Deferred tax liabilities 16   99,451   12,963   66,328  11,136 
Liabilities arising from insurance contracts 11   1,920,676   1,743,929   1,604,568  1,388,179 
Reinsurance commission   34,270   46,738   34,270  29,917 
Financial liabilities – amounts due to cell shareholders   211,114   150,988   –  – 
Agents and other insurance payables   121,187   116,853   99,798  110,403 
Taxation liability   15,030   3,312   –  – 
Trade and other payables 17   252,301   224,253   68,152  83,801 
Total liabilities   2,833,953   2,342,105   2,053,040  1,666,505 
Total equity and liabilities   4,605,929   3,857,201   3,656,968  3,036,556 

 

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