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
    =============   =============