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26. UNDERWRITING RESULTS
Group and Bank
2013
2012
RM’000
RM’000
Gross premium
13,985
14,328
Reinsurance
(4,631)
(4,300)
Net premium
9,354
10,028
Increase in premium liabilities reserves (Note 19)
(1,831)
(71)
Net earned premium (Note 26 (i))
7,523
9,957
Other fee income
558
706
Write-back of allowance for doubtful debts
81
1,874
8,162
12,537
Net claims incurred (Note 26 (ii))
(6,044)
(13,908)
Underwriting results
2,118
(1,371)
(i) Net earned premium
Gross premium
13,985
14,328
Change in premium liabilities reserves (Note 19)
(1,831)
(71)
12,154
14,257
Premium ceded
(4,631)
(4,300)
Net earned premium
7,523
9,957
(ii) Net claims incurred
Gross claims paid less salvage (Note 20)
(594)
(21,712)
Recoveries
118
4,631
Bad debt written off
(98)
(1,330)
Net claims paid
(574)
(18,411)
Net outstanding claims
– 1 January
19,930
24,433
– 31 December
(25,400)
(19,930)
Net claims incurred
(6,044)
(13,908)
EXIM Bank Annual Report 2013
149