Manitoba Public Insurance 2003 Annual Report

	Balance Sheet
	FEBRUARY 2 9 / 2 8

(IN THOUSANDS OF DOLLARS)		2004	2003

Assets
Cash and investments (Note 4)		$ 1,459,869	$ 1,278,359
Due from other insurance companies		3,344	637
Accounts receivable		194,452	169,467
Deferred policy acquisition costs		11,869	7,929
Reinsurers’ share of unearned premiums		12,955	11,191
Reinsurers’ share of unpaid claims (Note 7)		53,384	56,657
Property and equipment (Note 5)		29,283	28,210
Deferred development costs		2,459	5,985

		1,767,615	1,558,435

Liabilities, Basic Insurance Rate Stabilization Reserve and Retained Earnings
Due to other insurance companies		11,880	13,393
Accounts payable and accrued liabilities		22,419	23,643
Unearned premiums		340,189	321,544
Provision for employee current benefits		9,767	9,383
Provision for employee future benefits (Note 6)		109,486	96,161
Provision for unpaid claims (Note 7)		1,125,195	982,895

		1,618,936	1,447,019

Basic insurance rate stabilization reserve		42,773	35,366
Retained earnings (Note 14)		105,906	76,050

		148,679	111,416

		$ 1,767,615	$ 1,558,435

The accompanying notes are an integral part of these financial statements.
Approved by the Board: Shari Decter Hirst CHAIRPERSON	Kerry Bittner DIRECTOR