NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2008
2 Employee information
Staff costs including directors' remuneration: 2008 2007
£'000 £'000
Salaries 13,482 11,770
Social security costs 1,375 1,202
Pension costs - defined benefit scheme 1,979 2,026
- defined contribution scheme 282 189
Other staff costs 1,172 776
18,290 15,963
2008 2007
Average number of employees in the year 291 257
For purposes of comparability the 2007 figures above have been adjusted to include MDU Services as if it was a wholly
owned subsidiary.
3 Investment Income 2008 2007
£'000 £'000
Bank interest 6,157 2,112
4 Indemnity, Legal, Reinsurance and Insurance Costs 2008 2007
£'000 £'000
Insurance and reinsurance premiums 106,593 108,683
Premium element adjustment (see note 1d) (20,803) (28,196)
Indemnity paid 18,802 14,219
Increase/(decrease) in indemnity provision 10,596 (4,019)
Net increase in indemnity provision (note 13a) 29,398 10,200
Legal costs 12,184 10,788
Reinsurance recoveries (5,271) (1,278)
Reversal of restriction in indemnity provision (note 13a) 800 55,573
122,901 155,770
5 Finance cost 2008 2007
£'000 £'000
Finance cost relating to indemnity provision (note 13a) 2,983 2,241
Finance credit relating to pension provision (note 17) (300) (400)
2,683 1,841
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