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For the years Ended December 31,2004 and 2003
Account
2004
2003
Current Assets
Cash and Cash Equivalents
2,193,996
2,026,044
Short-Term Investment (Net Value)
2,939,944
2,190,809
Notes Receivable (Net Value)
243,557
249,698
Earned Revenue Receivable
18,080
14,858
Premium Receivable (Net Value)
1,307,959
1,174,396
Claims Recoverable form Reinsurers
495,693
312,351
Due from Reinsurers and Ceding Companies
134,747
413,347
Other Receivables (Net Value)
72,964
21,826
Deferred Income Tax Assets
910
141
Pre-paid Expenses
27,014
322,560
Sub-Total Current Assent
7,434,564
6,726,030
Long-Term Investment
Long-Term Stock Investment
Long-Term Investment Under Cost Method
747,121
880,457
Allowance for Valuation Losses in Long-Term Investment
-22,821
(11,772)
Real-estate tu-vestments(Net Value)
1,028,528
1,052,319
Long-Term Equity Investment
1,752,828
1,921,004
Fixed Assets
Acquisition Costs
Land
182,002
182,002
Building &Equipment
380,422
376,227
Miscellaneous Equipments
277,525
313,785
Revaluation lncrements
248,264
249,111
Acquisition Costs & Increments
1,088,213
1,121,125
Less:Accumulated Depreciation
(297720)
(308,084)
Prepayment for Equipments
2,294
8,009
Net Ficed Assets
792,787
821,050
Other Assets
Guarantee Deposits Paid
496,067
502,177
Overdue Receivables (Net Value)
33,547
19,058
Deposits for Reinsurance Reserves
1
6
Deferred Income Assets
-
3116
Sub-Total Other Assets
529,615
524,357
Total Assets
10,509,794
9,992,441
Account
2004
2003
Current Liabilities
Note Payable
32345
-
Accrued Expenses
134,578
156,510
Due Tax Payable
-
20,309
Commission Payable
111,469
75,601
Due Loss Payment (Net Value)
213
2,804
Reinsurance Premiums
863,229
1,020,054
Due to Reinsurers and Ceding Companies
472,371
405,764
Other Current Liabilities
221,633
70,797
Sub-Total Current Liabilities
1,835,838
1,751,839
Long-Term LIABILITIES
Reserve for Land Revaluation increment Tax
157,963
157,963
Accrued Pension Liability
61,488
46,822
Sub-Total Long-Term Liabilitied
219,451
204,785
Other Liabilities
Reserves for Unexpired Permium
2,498,862
2,426,184
Special Catastrophe Reserves
1,194,159
1,853,427
Deferred Income Tax Liabilities
38
-
Outstanding Claim Reserves
609,720
513,757
Guarantee Deposits Reserves
18,547
18,594
Fund Held for Reserves
31,327
37,500
Sub-Total Other Liabilities
5,099,653
4,849,462
Total Liabilities
7,154,942
6,806,086
Shareholders Equity
Capital Stock
2,937,348
2,745,185
Capital Surplus
Additional Paid-in Capital-Common Stock
35,143
35,143
Capital Surplus for Assets Revaluation Increment
50,873
50,873
Others
1,636
1,636
Sub-Total Capital Surplus
87,652
87,652
Retained Earnings
Legal Reserve
78,084
46,426
Unappropriated Retained Earnings
274,388
318,663
Sub-Total Retained Earnings
352,472
365,089
Equity Adjustments
Unreslized Valuation Losses on Long-Term Equity investment
(22,821)
(11,772)
Cumulative Translation Adjustment
201
201
Sub-Total Shareholders Equity
3,354,852
3,186,355
Total Liabilities & Total Shareholders’ Equity
10,509,794
9,992,441