03/09/2024
ZAMCHI INSURANCE BROKERS LIMITED
ABBREVITED QUARTERLY FINANCIAL STATEMENTS
AS AT 30 JUNE, 2024
Published in Accordance with section 110 of the insurance Act, No 38 of 2021.
ZAMCHI INSURANCE BROKERS LIMITED
ABBREVIATED STATEMENTS OF ASSETS AND LIBILITIES
AS AT 30 juneH 2024
ASSETS Current Period Pervious Period
Cash and Cash equivalent s 6,659 34,044
Brokerage Commission receivable from customers - -
Property plant and equipment 6,786 8,506
Right of use assets
Premium receivable from customers 58,601 58,601
Other Assets 20,398 20,398
TOTAL ASSETS 92,444 121,549
EQUITY & LIABILITIES
Share Capital 134,000 134,000
Share Premium
Retained earnings (443,767.75) (224,694.72)
Shareholders funds 336,111 142,392
Other Capital Reserves
TOTAL CAPITAL & RESERVES 26,343 51,697
LIABILITIES
Premium payable to insures 58,601 58,601
Lease liabilities
Tax liabilites
Bank overdraft
Other liabilites 7,500 11,250
TOTAL EQUITY & LIABILITIES 92,444 121,548
ABBREVIATED INCOME STATEMENT
Quarter ended 30th June 2024
{year to Date]
Gross Written Premium 551,778 1,052,803
Commission Revenue 87,872 163,366
Less WHT paid
Other income
Fee income
Divideds received
Management fees
Other income
Total Revenue 87,872 163,366
Operating Expenses
Salaries
Rental expenses 6,000 6,000
Marketing expenses 140,959 85,195
Audit fees 3,750 3,750
Depreciation 5,057 5,057
Other Expenses 159,368 72,923
Total expenses 315,134 172,925
Profits [Loss] Before Tax (227,262) (9,559)
income tax expense 13,181 24,505
Profits & total comprehensive income for the period (240,443) (34,064)
ZAMCHI INSURANCE BROKERS LTD
STATEMENT
OF KEY PERFORMANCE INDICATORS
Quarter ended 30th June 2024
LIQUIDITY,SOLVENY & PROFITABILITY RATIOS
Current Asset to Current Liabilies 1.00 1.00
Debt to Equity Ratio 49% 52%
Profit Margin Ratio(Profit after Tax/Revenue) -274% -21%
Return on Equity (ROE) =net income/Shareholders Equity 66% 122%
Operating Margin(Revenue to GWP) 16% 16%
Expenses Margin (Expenses/Revenue) 359% 106%
BROKER REMMITTANCE EFFICIENCY RATIO (BR)
BR =(Premium Receivable+cash -Overdraft)Premium payable 111% 158%
(Note: ideal ratio should be above 110.0%)
OTHER PERFOMANCE INDICATORS
Cumulative Number of policies Issued in a Period
Number Corporate Policies issued
Number Individual Policies issued
NUMBER OF INSURERS TRANSACTED WITH
The above information is unaudited but is in agreement with the
insurance account and financial statement submitted to the
pension and insurance authority
Mayford Chikoya Chiwisha Kamuhuza
Name of Accountant Name of the Chief Executive Officer
