(d) Liquidity risk


Liquidity risk is the risk that cash may not be available to pay obligations as they fall due at a reasonable cost. The Association has adopted an investment policy which requires the maintenance of significant holdings in short term deposits to ensure sufficient funds are available to cover anticipated liabilities and unexpected levels of demand. Short term cash needs are monitored to ensure the most efficient investment of cash balances.


The following table provides a maturity analysis of the Group’s financial assets representing the date that a contract will mature, amounts are due for payment or the asset could be realised without significant additional cost:


As at 20 February 2011 Amounts in $000


Debt securities Equities


Absolute return funds UCITS


Forward currency contracts Cash balances


Amounts due from Members


Reinsurers share of outstanding claims Accrued interest Sundry debtors Total assets


As at 20 February 2010 Amounts in $000


Debt securities Equities


Absolute return funds UCITS


Forward currency contracts Cash balances


Amounts due from Members


Reinsurers share of outstanding claims Accrued interest Sundry debtors Total assets


Short term Within 1-2 years 2-5 years assets 1 year


Over 5 years


624,807---- 624,807 216,701---- 216,701 - 89,622--- 89,622 235,414---- 235,414 -


4,871--- 4,871


44,189---- 44,189 5,617 73,679--- 79,296 - 102,514 67,066 93,122 33,567 296,269 -


5,077--- 5,077


2,498 10,961--- 13,459 1,129,226 286,724 67,066 93,122 33,567 1,609,705


Total


Short term Within 1-2 years 2-5 years assets 1 year


Over 5 years


513,603---- 513,603 168,455---- 168,455 - 93,011--- 93,011 259,646---- 259,646 -


1,649--- 1,649


30,067---- 30,067 2,194 136,741--- 138,935 - 110,849 73,844 106,210 42,397 333,300 -


4,366--- 4,366


4,183 14,928--- 19,111 978,148 361,544 73,844 106,210 42,397 1,562,143


Total


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