Consolidated Statement of Financial position
As at 31 December 2023
| 31 December | 31 December | 1 January | ||
|---|---|---|---|---|
| Notes | 2023 | 2022 | 2022 | |
| KD 000’s | KD 000’s (Restated) | KD 000’s (Restated) | ||
| Assets | ||||
| Cash and bank balances | 5 | 165,834 | 227,748 | 231,601 |
| Time deposits | 6 | 53,245 | 61,107 | 74,373 |
| Other assets | 7 | 45,507 | 57,776 | 45,756 |
| Insurance contract assets | 8 | 6,970 | 19,131 | 34,143 |
| Reinsurance contract assets | 8 | 242,269 | 212,357 | 273,799 |
| Loans secured by life insurance policies | 619 | 481 | 499 | |
| Financial instruments: | ||||
| 9 | 63,135 | 61,656 | |
| 9 | 76,895 | ‑ | |
| 9 | 89,429 | 53,458 | 48,469 |
| 9 | 271,142 | 261,749 | |
| 9 | 332,809 | ‑ | |
| Property and equipment | 38,993 | 44,363 | 45,575 | |
| Investments in associates | 10 | 24,297 | 43,717 | 44,987 |
| Investment properties | 8,354 | 9,821 | 10,493 | |
| Intangible assets | 11 | 46,343 | 45,880 | 48,034 |
| Goodwill | 12 | 33,319 | 33,233 | 32,706 |
| 1,164,883 | 1,143,349 | 1,213,840 | ||
| Disposal group held for sale | 28 | 10,533 | ‑ | ‑ |
| Total assets | 1,175,416 | 1,143,349 | 1,213,840 |
The attached notes 1 to 28 form part of these consolidated financial statements.
| 31 December | 31 December | 1 January | ||
|---|---|---|---|---|
| Notes | 2023 | 2022 | 2022 | |
| KD 000’s | KD 000’s (Restated) | KD 000’s (Restated) | ||
| Liabilities and equity | ||||
| Liabilities | ||||
| Insurance contract liabilities | 8 | 577,846 | 543,914 | 642,099 |
| Reinsurance contract liabilities | 8 | 36,053 | 23,941 | 9,249 |
| Bank Overdraft | 3,082 | ‑ | ‑ | |
| Term loans | 13 | 53,116 | 58,077 | 75,484 |
| Other liabilities | 14 | 131,176 | 153,448 | 138,524 |
| Total liabilities | 801,273 | 779,380 | 865,356 | |
| Equity | ||||
| Share capital | 15 | 28,457 | 28,457 | 28,457 |
| Share premium | 15 | 50,947 | 50,947 | 50,947 |
| Treasury shares | 15 | (429) | (429) | (429) |
| Treasury shares reserve | 3,099 | 3,099 | 3,099 | |
| Statutory reserve | 15 | 28,457 | 27,835 | 23,843 |
| Voluntary reserve | 15 | 40,671 | 38,416 | 34,424 |
| Effect of changes in ownership interest of subsidiaries | (2,837) | (2,837) | (2,837) | |
| Other reserve | (1,643) | (628) | (481) | |
| Insurance and reinsurance finance reserve | 839 | 1,264 | ||
| Cumulative changes in fair value reserve | (771) | (455) | 1,135 | |
| Foreign currency translation adjustments | (39,315) | (41,405) | (35,433) | |
| Revaluation reserve | 16,014 | 17,738 | 14,667 | |
| Retained earnings | 112,770 | 106,642 | 93,740 | |
| Equity attributable to the equity holders of the Parent Company | 236,259 | 228,644 | 211,132 | |
| Subordinated perpetual Tier 2 bonds | 16 | 60,000 | 60,000 | 60,000 |
| Non‑controlling interests | 77,884 | 75,325 | 77,352 | |
| Total equity | 374,143 | 363,969 | 348,484 | |
| Total liabilities and equity | 1,175,416 | 1,143,349 | 1,213,840 |
The attached notes 1 to 28 form part of these consolidated financial statements.