24 Insurance receivable and contract assets
Insurance receivable and contract assets
| 2021 | 2020 | |||
| AED’000 | AED’000 | |||
| Insurance receivables | 98,679 | 69,924 | ||
| Re-insurance contract assets | 77,279 | 41,850 | ||
| ————————- | ————————- | |||
| 175,958 | 111,774 | |||
| ============= | ============= |
Insurance Receivables
| 2021 | 2020 | |||
| AED’000 | AED’000 | |||
| Due from policyholders | 41,840 | 42,203 | ||
| Due from brokers and agencies | 12,687 | 13,916 | ||
| Due from insurance and reinsurance companies | 52,914 | 20,809 | ||
| Due from related parties | – | 891 | ||
| ————————- | ————————- | |||
| 107,441 | 77,819 | |||
| Expected credit loss | (9,110) | (8,025) | ||
| ————————- | ————————- | |||
| 98,331 | 69,794 | |||
| Refundable deposits and other advances | 348 | 130 | ||
| ————————- | ————————- | |||
| Premium and insurance balances receivables –
net |
98,679 | 69,924 | ||
| ============= | ============= |
Reinsurance share of outstanding claims
| 2021 | 2020 | |||
| AED’000 | AED’000 | |||
| Unearned premiums reserve | 39,580 | 25,897 | ||
| Claims under settlement reserves | 30,655 | 14,826 | ||
| Incurred but not reported claims reserve | 7,044 | 1,127 | ||
| ————————- | ————————- | |||
| 77,279 | 41,850 | |||
| ============= | ============= |
