Mauritius Eagle Mauritius Eagle Insurance Company Limited structure incorporated in 1973 and listed in the Stock Exchange of Mauritius in 1993. It is based on corporate governance has enjoyed an increase by 4% in gross premium to reach Rs 1,166 million with a share at Rs 4.59. It has consolidated its stake in the economy with controlling interest of 51% to an investment of 13.6%. 

It has been affected by the increasing number of road accidents in Mauritius but is confident to grow successfully due to its quality services. The Insurance industry in Mauritius is a well regulated and well developed sector under the regulatory body of the Financial Services Commission (FSC) and the Insurance Act 2005. Its growth prospects are relevant to the emerging of financial services in the global market with reference to domestic investment and the need to insure in life, health and properties of foreign as well as domestic firms (Aumeer, 2015).   

MAURITIAN EAGLE   

Restated 2015 Rs 000 

Operating profit Rs 67,914 

Profit/Loss for the year Rs 57,668 

Revenue Rs 640,698 

Finance costs Rs 87,680 

Total Assets Rs 2,447,896 

Current Assets Rs 2,837,797 

Current Liabilities Rs 1,526,630 

Equity Rs 911,541 

Capital Employed RS 2,065,891 

Non-Current Liabilities Rs 10,724 

Number of ordinary shares 0 

The market price per share Rs 102.25  

(a) Discuss the implication of the key accounting principles, concepts and standards for your insurance company. 

(b) Analyse the importance of liquidity, profitability and efficiency of the insurance company. Use of relevant financial ratios to these three areas.

Answer rating: 100% (QA)

Solution The Key accounfing principles g insuram... View the full answer