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CIC INSURANCE GROUP LIMITEDNotes to the Financial Statements continuedFor the year ended 31 December 201121 DEPOSITS AND COMMERCIAL PAPER – HELD TO MATURITYGROUP AND COMPANYOTHER DEPOSITSGeneral Long terminsurance insurance Total Totalbusiness business 2011 2010Sh’000 Sh’000 Sh’000 Sh’000Embu Farmers Co-operative Society Limited - 20,000 20,000 20,000K’Unity Finance Limited 20,000 - 20,000 20,000CIC SACCO 42,458 - 42,458 37,008CIC - Unit Trusts 73,908 40,118 114,026 -COMMERCIAL PAPERS:Crown Berger Kenya Limited - - - 10,497Nakumatt Holdings Limited 23,116 - 23,116 20,997Car and General (Kenya) Limited 11,572 - 11,572 10,499Kenya Electricity Generating Company Limited 10,000 29,100 39,100 39,100TPS Serena Limited - 20,000 20,000 20,000Total deposits and commercial papers 181,054 109,218 290,272 178,101Maturing within three months 11,558 - 11,558 20,996Maturing after 3 months 169,496 109,218 278,714 157,105Total deposits and commercial papers 181,054 109,218 290,272 178,10122 DIRECT INSURANCE AND REINSURERS RECEIVABLESReceivables arising out of direct insurance arrangements relate to premiums earned but not received as a result ofrisks underwritten but whose premium have not been received as at year end. Receivables arising out of reinsurancearrangements relate to reinsurers portion of claims incurred which had not been recovered from reinsurers as at year end.23 DEFERRED ACQUISITION COSTS – GROUP AND COMPANY2011 2010Gross Retrocession Net Gross Retrocession NetShs Shs Shs Shs Shs ShsAt 1 January 126,560 6,799 119,761 44,530 6,486 38,044Increase in the year 74,357 612 73,745 82,030 313 81,717At 31 December 200,917 7,411 193,506 126,560 6,799 119,7612011 ANNUAL REPORT & FINANCIAL STATEMENTS PAGE 55