General information - Eureko Sigorta

2008 ANNUAL REPORT
EUREKO S‹GORTA A.fi.
Notes to the Financial Statements As at 31 December 2008
(Currency: New Turkish Lira (TRY))
4.2 Management of financial risk (continued)
Credit risk (continued)
As at 31 December 2008, the aging of the receivables from main operations is as follows:
Not past due
Past due 0-30 days
Past due 31-60 days
Past due 61-180 days
Past due 180-365 days
More than one year
Total
31 December 2008
The movement of the allowances for impairment losses for premium receivables and receivables under legal or administrative
follow up during the period is as follows:
Balances at the beginning of the period
Collections during the period (Note 47)
Impairment losses provided during the period (Note 47)
Balances at the end of the period (Note 12)
Gross Amount
110,066,201
13,598,864
8,390,540
3,571,886
10,202,906
12,808,871
158,639,268
The movement of the allowances for impairment losses provided against receivables from subrogations during the period
is as follow:
Balances at the beginning of the period
Collections during the period (Note 47)
Foreign exchange differences
Impairment losses provided during the period (Note 47)
Balances at the end of the period (Not 12)
Liquidity risk
Liquidity risk is the risk that an entity will encounter difficulty in raising funds to meet cash commitments associated with
financial instruments.
Management of the Liquidity Risk
The Company considers the maturity match between asset and liabilities for the purpose of avoiding liquidity risk and
ensure that it will always have sufficient liquidity to meet its liabilities when due.
67
Provision
(45,355)
(26,631)
(37,767)
(71,674)
(395,852)
(12,322,819)
(12,900,098)
31 December 2008
890,238
(122,808)
915,186
1,682,616
31 December 2008
7,940,793
(99,248)
96,912
3,279,025
11,217,482