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Defence Service Homes Insurance Scheme STATEMENT OF COMPREHENSIVE INCOME

for the period ended 30 June 2013

Statement of comprehensive income
    2013 2012
  Notes $’000 $’000
Claims expense      
Claims expense 8A 26,634 22,051
Less: Reinsurance and other recoveries 8B (1,619) (1,178)
Net claims expense   25,015 20,873
Premium revenue      
Insurance premium revenue 8C 35,474 31,796
Less: Reinsurance expense 8D (6,526) (6,455)
Net premium revenue   28,948 25,341
Movement in unexpired risk liability 8E - (1,816)
Operating expense      
Employee benefits equivalent 3A 3,303 3,481
Fire brigade and emergency services contributions 3B 3,159 2,069
Suppliers 3C 2,248 2,339
Amortisation 3D 75 75
Acquisition costs 3E 493 490
Total operating expense   9,278 8,454
Underwriting result   (5,345) (2,170)
Own-source revenue      
Commissions received 4A 2,620 2,217
Total own-source revenue   2,620 2,217
Gains      
Revaluation of investments at fair value through profit or loss 4B 1,484 1,929
Resources received free of charge 4C 55 52
Total gains   1,539 1,981
Total own-source income   4,159 4,198
Net contribution by (cost of) services   (1,186) 2,028
Revenue from Government 4D 120 120
Surplus/(Deficit) attributable to the Australian Government   (1,066) 2,148
Other comprehensive income   - -
Total comprehensive income (loss) attributable to the Australian Government   (1,066) 2,148

The above statement should be read in conjunction with the accompanying notes.

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