Page 151 - EXIM-Bank_Annual-Report-2023

Management Discussion and Analysis Ensuring Sustainability Commitment to Lead Upholding Accountability Financial Statements 149

Notes to the fiNaNcial statemeNts

10. INSuRANCE CONTRACT/TAkAFuL CERTIFICATE LIABILITIES AND REINSuRANCE CONTRACT ASSETS
Group and Bank
2023 2022 2021
rM’000 rM’000 rM’000
restated restated
Insurance contract/takaful certificates liabilities (36,837) (55,012) (70,635)
Reinsurance contract assets 9,872 13,204 18,246
(26,965) (41,808) (52,389)

Insurance contract/takaful certificates liabilities not under PAA
Liabilities
for remaining Liabilities
coverage - for remaining
Excluding coverage - Liabilities
loss loss for incurred
component component claims Total
rM’000 rM’000 rM’000 rM’000

Balance as at 1.1.2022 (8,809) (15,990) (23,228) (48,027)
Insurance/Takaful revenue 2,662 - - 2,662
Insurance/Takaful service expense (4,815) 8,256 (2,540) 901
Insurance/Takaful finance expense (80) (132) (188) (400)
Claims and expenses paid 4,814 - 2,637 7,451
Balance as at 31.12.2022/1.1.2023 (6,228) (7,866) (23,319) (37,413)
Insurance/Takaful revenue 4,999 - - 4,999
Insurance/Takaful service expense - (450) 4,942 4,492
Insurance/Takaful finance expense (936) - - (936)
Premium/contribution received (1,210) - - (1,210)
Balance as at 31.12.2023 (3,375) (8,316) (18,377) (30,068)

Insurance contract/takaful certificates liabilities under PAA
Liabilities Liabilities
for remaining for incurred
coverage claims Total
rM’000 rM’000 rM’000
Balance as at 1.1.2022 (2,552) (20,056) (22,608)
Insurance/Takaful revenue 1,694 - 1,694
Insurance/Takaful service expense 33 2,713 2,746
Premium/contribution received (1,515) - (1,515)
Claims and expenses paid - 2,084 2,084

Balance as at 31.12.2022/1.1.2023 (2,340) (15,259) (17,599)
Insurance/Takaful revenue 2,630 - 2,630
Insurance/Takaful service expense - 8,935 8,935
Premium/contribution received (735) - (735)
Balance as at 31 December (445) (6,324) (6,769)