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Shareholder Review

Annual Report

Notice of Meeting

 

TOWER Australia Group Limited BALANCE SHEETS As at 30 September 2008 Group Company 2008 2007 2008 2007 Note $000 $000 $000 $000 Assets Cash and cash equivalents 9 165,741 63,554 32,224 4,361 Receivables 11 117,343 159,656 1,223 79,011 Financial assets at fair value through profit or loss 12 2,517,834 3,208,590 – 11,684 Other financial assets 13 31,609 33,988 436,615 436,615 Deferred acquisition costs 14 53,420 60,672 – – Other assets 1,611 120 – – Plant and equipment 15 4,178 3,575 – – Assets arising from reinsurance contracts 31 295,627 254,946 – – Deferred tax assets 8 84,547 32,492 7,854 10,110 Intangible assets 16 144,814 148,637 – – Total assets 3,416,724 3,966,230 477,916 541,781 Liabilities Payables 17 111,829 118,110 4,980 23,236 Current tax liabilities 3,739 60,275 3,739 60,295 Provisions 18 22,907 19,961 – – Outstanding claims – life insurance 19 68,477 72,036 – – Interest bearing liabilities 20 99,679 99,576 – – Other liabilities 21 1,206 1,435 – – Deferred revenue liability 22 85,849 93,671 – – Life insurance contract liabilities 31 616,612 650,447 – – Life investment contract liabilities 31 1,806,969 2,316,235 – – Total liabilities 2,817,267 3,431,746 8,719 83,531 Net Assets 599,457 534,484 469,197 458,250 Equity Contributed equity 25 391,180 384,137 391,180 384,137 Retained profits 27 201,623 146,301 73,846 72,052 Reserves 27 6,654 4,046 4,171 2,061 Total equity attributable to shareholders of TOWER Australia Group Limited 599,457 534,484 469,197 458,250

 

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