Deferred revenue represents premiums received in advance.

Deferred Revenues of $86.8 Million, Up 43% Year over Year

Licence fees received for future year licence periods are recorded as deferred revenue.

Licence fees received for future year licence periods are recorded as deferred revenue.

The most notable reduction in liabilities is due to the reversal of $355,000 in deferred revenues.

(h) the custody, management, investment and application of sinking funds, retirement funds, funds prescribed under clause 247 (3) (e) reserves and surpluses;

(h) the custody, management, investment and application of sinking funds, retirement funds, funds prescribed under clause 247 (3) (e), deferred revenues and surpluses;