Traditional Insurance
Customer’s BALANCE SHEET (edited) |
Synergy MicroCaptive™
Customer’s BALANCE SHEET (edited) |
| |
£ |
|
£ |
| BANK ACCOUNT 1: |
|
BANK ACCOUNT 1: |
|
| Balance brought forward |
0 |
Balance brought forward |
0 |
| Funds deposited |
315,000 |
Funds deposited |
315,000 |
| Premium & IPT paid |
(315,000) |
Premium & IPT paid |
(189,000) |
| |
|
Transfer of funds to Small Loss Account (bank account 2) |
(126,000) |
| Claim expense |
(5,000) |
Claim expense |
0 |
| Balance carried forward: |
(5,000) |
Balance carried forward: |
0 |
| |
|
|
|
| |
|
BANK ACCOUNT 2: |
|
| |
|
Balance brought forward |
0 |
| |
|
Transfer of funds from Bank account 1 |
126,000 |
| |
|
Administration fee paid to Synergy |
(6,000) |
| |
|
Small Loss Paid |
(35,000) |
| |
|
Interest received |
10,479 |
| |
|
Balance carried forward |
95,479 |
| |
|
|
|
| PRE TAX ASSETS / LIABILITIES |
(5,000) |
PRE TAX ASSETS / LIABILITIES |
95,479 |
