SOVEREIGN TRUST INSURANCE : EARNINGS FORECAST

TRUST INSURANCE PLC

PROFIT FORECAST FOR THE FOURTH QUARTER 2022

PREMIUM INCOME

CLASS OF BUSINESS

MOTOR	691,362
FIRE	588,454
MARINE	288,082
GENERAL ACCIDENT	323,372
CAR/ENGINEERING	466,230
ENERGY BUSINESS	1,023,500
GROSS PREMIUM WRITTEN
3,381,000
PROVISION FOR UNEXPIRED RISK	(171,818)
REINSURANCE EXPENSES	(1,413,808)
NET PREMIUM EARNED	1,795,374
COMMISSION INCOME	281,949
NET UNDERWRITING INCOME	2,077,323
CLAIMS PAID	(676,200)
CLAIMS RESERVE	(108,581)
CHANGE IN IBNR	(57,159)
REINSURANCE CLAIMS RECOVERED	97,320
NET CLAIMS INCURRED	1,332,702
ACQUISITION EXPENSES	(509,454)
UNDERWRITING EXPENSES	(142,209)
TOTAL UNDERWRITING EXPENSES	(651,663)
UNDERWRITING PROFIT
681,039
INVESTMENT INCOME	147,613
MANAGEMENT EXPENSES	(714,874)
PROFIT BEFORE TAX	113,778
INCOME TAX	(23,159)
PROFIT AFTER TAX	90,619