Balance Sheet |
| Years ended February 29/28 |
2008 |
2007 |
|
| |
(in thousands of dollars) |
|
 |
|
 |
|
| |
Assets |
|
|
|
|
|
| |
Cash and investments (Note
5) |
$
2,187,313 |
$
2,015,010 |
|
| |
Due from other insurance companies |
3,877 |
10 |
|
| |
Accounts receivable |
256,583 |
247,140 |
|
| |
Deferred policy acquisition costs |
11,510 |
17,002 |
|
| |
Reinsurers’ share of unearned premiums |
11,129 |
10,027 |
|
| |
Reinsurers’ share
of unpaid claims (Note 8) |
51,345 |
27,844 |
|
| |
Property and
equipment (Note
6) |
32,611 |
29,871 |
|
| |
Deferred development costs |
16,571 |
10,827 |
|
|
|
|
|
|
| |
|
2,570,939 |
2,357,731 |
|
|
|
|
|
|
| |
Liabilities |
|
|
|
| |
Due to other insurance companies |
23,073 |
8,993 |
|
| |
Accounts payable and accrued liabilities |
105,283 |
92,562 |
|
| |
Unearned premiums |
419,990 |
403,929 |
|
| |
Provision for employee current benefits |
14,045 |
13,779 |
|
| |
Provision
for employee future benefits (Note 7) |
188,580 |
166,472 |
|
| |
Provision for
unpaid claims (Note
8 and Note 12) |
1,512,625 |
1,399,748 |
|
|
|
|
|
|
| |
|
2,263,596 |
2,085,483 |
|
|
|
|
|
|
| |
Retained Earnings |
|
|
|
| |
Basic Insurance
Retained Earnings |
|
|
|
| |
Rate Stabilization
Reserve |
127,122 |
128,122 |
|
| |
Immobilizer
Incentive Fund |
17,925 |
33,143 |
|
|
|
|
|
|
| |
|
145,047 |
161,265 |
|
|
|
|
|
|
| |
Competitive
Lines Retained Earnings |
|
|
|
| |
Retained Earnings |
103,739 |
110,983 |
|
| |
Extension Development Fund |
35,389 |
-- |
|
|
|
|
|
|
| |
|
139,128 |
110,983 |
|
|
|
|
|
|
| |
|
284,175 |
272,248 |
|
|
|
|
|
|
| |
Accumulated Other Comprehensive Income (Note 3) |
23,168 |
-- |
|
|
|
|
|
|
| |
|
$
2,570,939 |
$
2,357,731 |
|
|
|
|
| |
The accompanying notes are an integral part of these financial statements.
|
| |
Approved by the Board:
Shari Decter Hirst
Chairperson
|
Kerry Bittner
Director |
|
|
|
|
|
|
|
