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 |
105,000 |
Funds deposited |
105,000 |
| Premium & IPT paid |
(105,000) |
Premium & IPT paid |
(63,000) |
| |
|
Transfer of funds to Small Loss Account (bank account 2) |
(42,000) |
| Claim expense |
(5,000) |
Claim expense |
0 |
| Balance carried forward: |
(5,000) |
Balance carried forward: |
0 |
| |
|
|
|
| |
|
BANK ACCOUNT 2: |
|
| |
|
Balance brought forward |
31,750 |
| |
|
Transfer of funds from Bank account 1 |
42,000 |
| |
|
Administration fee paid to Synergy |
(2,000) |
| |
|
Small Loss Paid |
0 |
| |
|
Interest received |
3,588 |
| |
|
Balance carried forward |
75,338 |
| |
|
|
|
| PRE TAX ASSETS / LIABILITIES |
(5,000) |
PRE TAX ASSETS / LIABILITIES |
75,338 |
