Ceylinco Life Insurance Limited
INTEGRATED ANNUAL REPORT 2016

FINANCIAL REPORTS

statement of financial position
Group Company
As at 31 December Note 2016
Rs. ’000
2015
Rs. ’000
2016
Rs. ’000
2015
Rs. ’000
Assets
Intangible Assets 7 3,251 1,240 2,759 645
Property, Plant and Equipment 8 8,313,785 6,463,721 7,068,634 5,343,752
Investment Properties 9 1,032,000 817,551 1,796,000 1,399,171
Investment in Subsidiaries 10 1,021,000 521,000
Investment in Associates 11 1,745,146 1,321,350 437,994 365,553
Financial Instruments
Held-to-Maturity Financial Assets 12. (a) 64,552,885 46,856,945 64,552,885 46,856,945
Loans and Receivables 12. (b) 12,242,455 16,752,882 11,580,660 16,730,897
Available-for-Sale Financial Assets 12. (c) 1,204,176 1,051,073 1,204,176 1,051,072
Financial Assets at Fair Value Through Profit or Loss 12. (d) 158,390 214,936 158,390 214,936
Employee Gratuity Benefit Assets 13 697,338 725,726 697,338 725,726
Employee Pension Benefit Assets 14 891,934 873,081 891,934 873,081
Reinsurance Receivables 15 41,298 46,007 41,298 46,007
Income Tax Receivables 16. (a) 1,044,662 1,183,836 1,042,571 1,183,836
Loans to Life Policyholders 17. (a) 1,378,954 1,335,634 1,378,954 1,335,634
Premium Receivables 214,604 192,401 214,604 192,401
Accrued Income 18 3,473,541 2,485,422 3,469,524 2,485,422
Other Assets 19 343,380 328,088 315,112 310,435
Cash and Cash Equivalents 20 600,104 600,192 584,256 598,651
Total Assets 97,937,903 81,250,085 96,458,089 80,235,165
Equity and Liabilities
Equity Attributable to Equity Holders of Parent
Stated Capital 21. (a) 500,001 500,001 500,001 500,001
Retained Earnings 21. (b) 5,165,536 2,683,456 4,003,753 1,733,281
Available-for-Sale Reserve 21. (b) 24,212 (92,663) (60) (98,563)
Revaluation Reserves 21. (b) 290,772 96,484
Special Reserve 21. (c) 7,311,651 7,311,651 7,311,651 7,311,651
Total Ordinary Shareholders’ Equity 13,292,172 10,402,444 11,911,829 9,446,368
Non-Controlling Interests 6,464 6,326
Total Equity 13,298,636 10,408,771 11,911,829 9,446,370
Liabilities
Insurance Contract Liabilities – Life 22. (a) 77,927,494 68,011,535 77,925,114 68,011,535
Insurance Contract Liabilities – Unit Linked 22 265,685 240,654 265,685 240,654
Insurance Contract Liabilities – Family Takaful 22 10,563 4,708 10,563 4,708
Individual Investment Fund ISF 22 56,881 22,700 56,881 22,700
Employee Gratuity Benefit Liability 13. (a) 12,750 10,357
Other Financial Liabilities 23. (a) 2,980,013 299,811 2,980,013 299,811
Deferred Tax Liabilities 16. (c) 261,846 91,483 227,716 71,840
Reinsurance Payables 25,837 58,153 25,837 58,153
Trade and Other Payables 24 1,853,056 1,651,380 1,824,371 1,635,439
Interest-Bearing Borrowings 23. (b) 1,000,000 1,000,000
Bank Overdraft 20 245,142 450,534 230,080 443,955
Total Liabilities 84,639,267 70,841,314 84,546,260 70,788,795
Total Equity and Liabilities 97,937,903 81,250,085 96,458,089 80,235,165

The above Statement of Financial Position is to be read in conjunction with the Notes to the Financial Statements on pages 195 to 276 which form an integral part of the Financial Statements.

These Financial Statements are prepared in compliance with the requirements of the Companies Act No. 07 of 2007.

The Board of Directors are responsible for the preparation and presentation of these Financial Statements; on behalf of the Board.

   

R Renganathan
Managing Director/Chief Executive Officer

Palitha Jayawardena
Director/Chief Financial Officer

23rd February 2017