Investments
The Company's investments increased 12.0%, from Ps. 15,882 million in 2019 to Ps. 17,793 million in 2020, mainly comprised by Ps. 10,387 million invested in government securities and Ps. 3,979 million in variable rate debt instruments.
Cash
As of December 31, 2020, the Company’s cash balance was Ps. 356 million, increasing 7.2% against Ps. 332 million recorded in the same period 2019.
Assets
Following increases in investments (+12.0% or +Ps. 1,911 million) and accounts receivable (+24.8% or +Ps.620 million), as of December 31, 2020, Grupo Peña Verde's assets reached Ps. 26,255 million, up 14.6%, equivalent to Ps. 3,338 million, compared to 2019.
Technical Reserves
As of December 31, 2020, technical reserves totaled Ps. 16,336 million, up 17.0% compared to Ps. 13,957 million at the end of 2019, mainly because of the higher reserves for catastrophic risks (+18.6% or +Ps. 1,035 million) and for unexpired risks (+15.6% or +Ps. 617 million).
Reinsurance and Rebonding
As a result of the growth achieved in Reaseguradora Patria's business portfolio, the reinsurance and rebonding account amounted to Ps. 3,195 million at the end of 2020, an increase of 51.4% compared to the same period last year.
Liabilities
The Company's liabilities went from Ps. 18,217 million at the end of 2019 to Ps. 21,787 million as of December 31, 2020, up 19.6%, primarily attributed to higher technical reserves booked.
Shareholders’ Equity
As of December 31, 2020, Grupo Peña Verde's shareholders' equity decreased 4.9%, totaling Ps. 4,468 million, as 1Q20 net loss heavily weighted on full-year bottom-line performance.