Summary consolidated balance sheet
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  As at As at
Amounts in USD 000's 20 August 2016 20 February 2016
Investments at market value 2,247,349 2,196,813
Reinsurers' share of technical   provisions 421,821 332,446
Cash and equivalents 230,815 174,572
Other assets 592,567 309,105
Total assets 3,492,552 3,012,936
Gross unearned premium reserve 443,083 133,512
Gross provision for outstanding and unreported claims 1,625,734 1,572,498
Equity 1,113,966 1,016,697
Other liabilites 309,769 290,229
Total equity and liabilities 3,492,552 3,012,936

The financial statements have been prepared in accordance with the amended Regulations for annual accounts for insurance companies approved by the Norwegian Ministry of Finance. The amendments, taking effect from the start of the current year, have been implemented for the financial statements to be more aligned with presentation of regulatory capital under Solvency II. The opportunity to make provisions to a contingent liability (contingency reserve) has been removed and is presented as retained earnings and equity. This could result in a tax liability for Assuranceforeningen Gard –gjensidig- and Gard M&E Insurance (Europe) AS. Gard, together with the other mutual P&I insurer in Norway, has had a dialogue with and been involved in the consultation process initiated by the Norwegian Ministry of Finance about these issues. No provisions for possible deferred tax has been made.