Georgia Healthcare Group PLC Annual Report 2018 Financial Statements Notes to Consolidated Financial Statements continued (Thousands of Georgian Lari unless otherwise stated) 7. Cash and cash equivalents Cash and cash equivalents comprise: 31 December 2018 31 December 2017 Current and on-demand accounts with banks 33,823 46,068 Cash on hand 2,331 2,772 Total cash and cash equivalents 36,154 48,840 Cash and cash equivalents of Imedi L on a stand-alone basis are GEL 1,625 (2017: GEL 1,513). The requirement of the Insurance State Supervision Service Agency of Georgia (“ISSSA”) is to maintain a minimum level of cash and cash equivalents at 10% of the total insurance contract liabilities subject to mandatory reserve requirements as defined by the ISSSA regulatory reserve requirement resolution, which as at the reporting date amounts to GEL 750 (2017: GEL 579). Management does not expect any losses from non-performance by the counterparties holding cash and cash equivalents, and there are no material differences between their book and fair values. The Company’s cash and cash equivalents comprise current accounts with banks of GEL 3,041 (2017: GEL 7,619). 8. Amounts due from credit institutions Amounts due from credit institutions comprise: 31 December 2018 31 December 2017 Time deposits with banks, local currency 7,061 2,020 Time deposits with banks, foreign currency 4,746 12,748 Total amounts due from credit institutions 11,807 14,768 As at 31 December 2018 amounts due from credit institutions are represented by short (remaining maturity from reporting date of one to 12 months) and medium-term placements with banks and earn annual interest of 0% to 12.75% (2017: 0% to 12.75%). As at 31 December 2018 amounts due from credit institutions include restricted cash of GEL 1,069 which mainly comprised amounts pledged under contract of JSC GEPHA with SSA (2017: GEL 7,190, of which GEL 2,268 was pledged under the export facility agreement with ING Bank N.V, GEL 2,581 was pledged under currency forward contracts and the remaining GEL 2,341 was pledged under credit facilities). 9. Insurance premiums receivable Insurance premiums receivable comprises: 31 December 2018 31 December 2017 Insurance premiums receivable from policyholders 26,034 22,562 Less – allowance for impairment (Note 33) (2,391) (2,329) Total insurance premiums receivables, net 23,643 20,233 The carrying amounts disclosed above reasonably approximate their fair values as at 31 December 2018 and 31 December 2017. 10. Receivables from healthcare services Receivables from healthcare services comprise: 31 December 2018 31 December 2017 Receivables from state 97,666 83,202 Receivables from individuals and other 22,023 29,343 Receivables from insurance companies 6,341 5,736 126,030 118,281 Less – allowance for impairment (19,189) (17,337) Total receivables from healthcare services, net 106,841 100,944 The carrying amounts disclosed above reasonably approximate their fair values as at 31 December 2018 and 31 December 2017. 152