TSC Annual Report 2024 final - Flipbook - Page 72
Notes - Financial statements
Note 23. Other Liabilities
2024
2023
Forward exchange agreements
2,848
1,779
Trade creditors
Other creditors
696
9,644
367
13,189
10,340
13,556
Note 24. Expected settlement of assets and liabilities
Approximately 60 % of the provision for claims outstanding is expected to be paid more than 12 months in the future.
For other balance sheet items that are expected to be settled more than 12 months in the future, 50 % of the receivables and
liabilities are associated with other insurance companies. There is little risk in the short term of the Club becoming short of
cash funds since most of the investment portfolio can be converted to cash within a few days. For more information on
liquidity risk, please see Note 2.
Note 25. Memorandum items
The listed assets below, are held in the priority register for coverage of technical provisions. In case of insolvency the members
have a priority right to the registered assets. The company has the right that in going concern add or delete assets in the priority
register as long as the requirements are met in accordance with Swedish Insurance Act.
Government/municipal bonds, etc.
Bonds other
Quoted shares
Investment fund
Cash and bank balances
Receivables related to direct insurance operations
Technical provisions, net
Surplus of registered assets
2024
2023
249,509
140,349
88,008
20,345
32,477
37,978
197,353
155,063
67,275
16,736
17,879
41,919
568,666
496,225
380,886
187,780
363,211
133,014
568,666
496,225
Bank guarantees
In connection with commitments to other members of the International Group and to members of The Swedish Club, the
Association has provided bank guarantees of USD 4.6 (3.3) million. There is also a bank guarantee on lease amounting to
USD 0.1 (0.1) million.
72 The Swedish Club | Annual Report 2024
