b'PROMUTUEL RASSURANCE 45CONSOLIDATED STATEMENTOF FINANCIAL POSITION(CONTD)As at December 31, 20212021 2020$ $(in thousands of Canadian dollars)LIABILITIESInsurance contract liabilitiesClaims being settled 135,532 147,135Unearned premiums 91,090 87,258Unearned reinsurance commissions 3,066 2,376229,688 236,769Accounts payable and accrued liabilities 12,502 14,663Income taxes payable 934 1,216Contract liabilities 138 212Lease liabilities 619 915Pension plan liabilities 685 854Retrocession deposits 12,112 13,906Total liabilities 256,678 268,535EQUITYCapital 3,284 3,284Retained earnings 137,012 123,677Accumulated other comprehensive income 17,027 3,889Total equity 157,323 130,850Total liabilities and equity 414,001 399,385A N N UA L R E P O R T 2021'