ANNUAL RETURN: FORM 1 - FUND BALANCE SHEET/media/MAS/Statistics/Insurance Returns/annual_G... · ANNUAL RETURN: FORM 1 - FUND BALANCE SHEET Reporting Cycle: ... (15 - 24) Annex 1A

ASIA CAPITAL REINSURANCE GROUP PTE LTDR978C

ANNUAL RETURN: FORM 1 - FUND BALANCE SHEET

Reporting Cycle:

General: Singapore Insurance Fund

122011

Description

ASSETS

Equity securities

Debt securities

Land and buildings

Loans

Cash and deposits

Other invested assets

Investment income due or accrued

Outstanding premiums and agents' balances

Deposits withheld by cedants

Reinsurance recoverables (on paid claims)

Income tax recoverables

Fixed assets

Inter-fund balances and intra group balances (due from)

Other assets

Total Assets (1 to 14)

LIABILITIES

Policy liabilities

Other liabilities:

Outstanding claims

Annuities due and unpaid

Reinsurance deposits

Amounts owing to insurers

Bank loans and overdrafts

Inter-fund balances and intra-group balances (due to)

Others

Total Liabilities (16 to 23)

SURPLUS (15 - 24)

Annex

1A

1B

1C

1D

1E

1F

1G

1H

1I

1J

1K

1L

1M

1N

RowNo.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Amount

9,955,914

88,201,863

0

0

16,509,033

(558,817)

35,612

21,710,751

254,314

1,680,836

121

0

7,657,513

55,216

145,502,356

72,130,088

0

0

326,540

7,987,588

0

0

(5,579,854)

74,864,362

70,637,994

29/08/2012 09:33 AM


ANNUAL RETURN: FORM 1 - FUND BALANCE SHEET

Reporting Cycle:

General: Offshore Insurance Fund

122011

Description

ASSETS

Equity securities

Debt securities

Land and buildings

Loans

Cash and deposits



Outstanding premiums and agents' balances

Deposits withheld by cedants

Reinsurance recoverables (on paid claims)

Income tax recoverables

Fixed assets

Inter-fund balances and intra group balances (due from)

Other assets

Total Assets (1 to 14)

LIABILITIES

Policy liabilities

Other liabilities:

Outstanding claims

Annuities due and unpaid

Reinsurance deposits

Amounts owing to insurers

Bank loans and overdrafts


Others

Total Liabilities (16 to 23)

SURPLUS (15 - 24)

Annex

1A

1B

1C

1D

1E

1F

1G

1H

1I

1J

1K

1L

1M

1N

RowNo.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Amount

611,545,961

453,638,412

0

0

39,344,736

(1,197,483)

3,362

419,510,727

36,623,033

94,516,570

762

0

1,567

3,251,750

1,657,239,397

1,108,355,480

0

0

735,828

152,460,291

0

13,890,488

(136,366,470)

1,139,075,617

518,163,780

29/08/2012 09:33 AM


Description

Equity securities other than collective investment schemes

Collective investment schemes

Total (1 to 2) = Row 1 of Form 1

Row No.

1

2

3

Listed

0

9,955,914

Unlisted

0

0

Amount

0

9,955,914

9,955,914

122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1A - INVESTMENT IN EQUITY SECURITIES

29/08/2012 09:33:48 AM


Description

Equity securities other than collective investment schemes

Collective investment schemes


Row No.

1

2

3

Listed

0

611,545,961

Unlisted

0

0

Amount

0

611,545,961

611,545,961

122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1A - INVESTMENT IN EQUITY SECURITIES

29/08/2012 09:33:48 AM


Description

Government debt securities

Qualifying debt securities

Other debt securities


Row No.

1

2

3

4

Amount

4,989,718

79,082,807

4,129,338

88,201,863

122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1B - INVESTMENT IN DEBT SECURITIES

29/08/2012 09:33:48 AM


Description

Government debt securities

Qualifying debt securities

Other debt securities


Row No.

1

2

3

4

Amount

138,613,267

308,688,063

6,337,082

453,638,412

122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1B - INVESTMENT IN DEBT SECURITIES

29/08/2012 09:33:48 AM


122011

R978C

Reporting Cycle:

ANNUAL RETURN: ANNEX 1C - INVESTMENT IN LAND AND BUILDINGS

ASIA CAPITAL REINSURANCE GROUP PTE LTD

Location and Descriptionof Land and Buildings Row No. Cost

LastRevaluation

Date

Last ReportedAmount

Changes fromLast Reported

AmountAmount

Total = Row 3 of Form 1 21 0

29/08/2012 09:34:02 AM


122011

R978C

Reporting Cycle:

ANNUAL RETURN: ANNEX 1C - INVESTMENT IN LAND AND BUILDINGS


Location and Descriptionof Land and Buildings Row No. Cost

LastRevaluation

Date

Last ReportedAmount

Changes fromLast Reported

AmountAmount


29/08/2012 09:34:02 AM


122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1D - INVESTMENT IN LOANS

Description

Policy loans

Mortgage loans

Other secured loans

Unsecured loans


Row No.

1

2

3

4

5

Amount Outstanding

0

0

0

0

Provision for DoubtfulLoans

0

0

0

0

Amount

0

0

0

0

0

29/08/2012 09:33:48 AM


122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1D - INVESTMENT IN LOANS

Description

Policy loans

Mortgage loans

Other secured loans

Unsecured loans


Row No.

1

2

3

4

5

Amount Outstanding

0

0

0

0

Provision for DoubtfulLoans

0

0

0

0

Amount

0

0

0

0

0

29/08/2012 09:33:48 AM

General: Singapore Insurance Fund 2011 12Reporting Cycle:

R978C

ANNUAL RETURN: ANNEX 1E - BREAKDOWN OF OTHER INVESTED ASSETS


Description

Derivatives

Options:

(a) Call options

(b) Put options

(c) Swaptions

(d) Other options

Total investments in options (1 to 4)

Futures contracts:

(a) Currency futures contracts

(b) Interest rate futures contracts

(c) Other futures contracts

Total investments in futures contracts (6 to 8)

Forward contracts:

(a) Currency forward contracts

(b) Interest rate forward contracts

(c) Other forward contracts

Total investments in forward contracts (10 to 12)

Swaps:

(a) Interest rate swaps

(b) Currency swaps

(c) Other swaps

Total investments in swaps (14 to 16)

Other derivatives

Total investments in derivatives (5 + 9 + 13 + 17 + 18)

RowNo.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

NotionalPrincipalAmount

0

0

0

0

0

0

0

0

0

15,088,120

0

0

15,088,120

0

0

0

0

0

15,088,120

Amount

0

0

0

0

0

0

0

0

0

-558,817

0

0

-558,817

0

0

0

0

0

-558,817

Other invested assets excluding derivatives

29/08/2012 09:33 AM

Total investments in other invested assets excludingderivatives 40 0

Total = Row 6 of Form 1 41 -558,817

29/08/2012 09:33 AM

General: Offshore Insurance Fund 2011 12Reporting Cycle:

R978C

ANNUAL RETURN: ANNEX 1E - BREAKDOWN OF OTHER INVESTED ASSETS


Description

Derivatives

Options:

(a) Call options

(b) Put options

(c) Swaptions

(d) Other options

Total investments in options (1 to 4)

Futures contracts:

(a) Currency futures contracts

(b) Interest rate futures contracts

(c) Other futures contracts

Total investments in futures contracts (6 to 8)

Forward contracts:

(a) Currency forward contracts

(b) Interest rate forward contracts

(c) Other forward contracts

Total investments in forward contracts (10 to 12)

Swaps:

(a) Interest rate swaps

(b) Currency swaps

(c) Other swaps

Total investments in swaps (14 to 16)

Other derivatives

Total investments in derivatives (5 + 9 + 13 + 17 + 18)

RowNo.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

NotionalPrincipalAmount

0

0

0

0

0

0

0

0

0

163,367,920

0

0

163,367,920

0

0

260,140,000

260,140,000

0

423,507,920

Amount

0

0

0

0

0

0

0

0

0

-519,558

0

0

-519,558

0

0

-677,925

-677,925

0

-1,197,483

Other invested assets excluding derivatives

29/08/2012 09:33 AM

Total investments in other invested assets excludingderivatives 40 0

Total = Row 6 of Form 1 41 -1,197,483

29/08/2012 09:33 AM

2011 12Reporting Cycle:General: Singapore Insurance Fund


ANNUAL RETURN: ANNEX 1F(c) - AGEING OF OUTSTANDING PREMIUMS AND AGENTS'BALANCES OF REINSURER

Description

Bad debts written off during the year

Ageing of outstanding premiums and agents' balances:

Outstanding period

Up to 6 months

Above 6 months but not exceeding 12 months


Above 24 months

Gross total (2 to 5)

Provision for doubtful debts

Total (6 - 7) = Row 8 of Form 1

RowNo.

1

2

3

4

5

6

7

8

Amount

0

3,145,893

5,933,051

11,643,029

988,778

21,710,751

0

21,710,751

Note: Outstanding period commences from the date premiums are accrued in the books of the reinsurer.

29/08/2012 09:33 AM

2011 12Reporting Cycle:General: Offshore Insurance Fund


ANNUAL RETURN: ANNEX 1F(c) - AGEING OF OUTSTANDING PREMIUMS AND AGENTS'BALANCES OF REINSURER

Description

Bad debts written off during the year

Ageing of outstanding premiums and agents' balances:

Outstanding period

Up to 6 months



Above 24 months

Gross total (2 to 5)

Provision for doubtful debts


RowNo.

1

2

3

4

5

6

7

8

Amount

0

46,592,960

191,536,240

170,554,682

11,315,954

419,999,836

489,109

419,510,727

Note: Outstanding period commences from the date premiums are accrued in the books of the reinsurer.

29/08/2012 09:33 AM


122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1G - STATEMENT OF REINSURANCE RECOVERABLES

Description

Reinsurance recoveries on unpaid claims

Reinsurance recoverables written off during the year

Ageing of reinsurance recoverables (on paid claims):

Outstanding period

Up to 1 year

Above 1 year but not exceeding 2 years

Above 2 years

Total (3 to 5)

Provision for doubtful reinsurance recoverables


Row No.

1

2

3

4

5

6

7

8

Amount

2,614,878

0

1,680,836

0

0

1,680,836

0

1,680,836

29/08/2012 09:33 AM


122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1G - STATEMENT OF REINSURANCE RECOVERABLES

Description

Reinsurance recoveries on unpaid claims

Reinsurance recoverables written off during the year

Ageing of reinsurance recoverables (on paid claims):

Outstanding period

Up to 1 year

Above 1 year but not exceeding 2 years

Above 2 years

Total (3 to 5)

Provision for doubtful reinsurance recoverables


Row No.

1

2

3

4

5

6

7

8

Amount

130,146,398

0

94,516,570

0

0

94,516,570

0

94,516,570

29/08/2012 09:33 AM


122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1H - FIXED ASSETS

Description

Motor vehicles

Computer equipment

Other fixed assets


Row No.

1

2

3

4

Amount

0

0

0

0

29/08/2012 09:33 AM


122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1H - FIXED ASSETS

Description

Motor vehicles

Computer equipment

Other fixed assets


Row No.

1

2

3

4

Amount

0

0

0

0

29/08/2012 09:33 AM


122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1I - INTER-FUND BALANCES AND

Description

Balances due from head office / shareholders fund

Balances due from overseas branches / related corporations

Balances due from other insurance funds established andmaintained under the Act


Row No.

1

2

3

4

Amount

6,631,118

0

1,026,395

7,657,513

INTRA-GROUP BALANCES (DUE FROM)

29/08/2012 09:33 AM


122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1I - INTER-FUND BALANCES AND

Description


Balances due from overseas branches / related corporations

Balances due from other insurance funds established andmaintained under the Act


Row No.

1

2

3

4

Amount

0

0

1,567

1,567

INTRA-GROUP BALANCES (DUE FROM)

29/08/2012 09:33 AM


Description Row No. Amount

Others 1 55,216

Total = Row 14 of Form 1 26 55,216

R978C ASIA CAPITAL REINSURANCE GROUP PTE LTD

2011 12

ANNUAL RETURN: ANNEX 1J - BREAKDOWN OF OTHER ASSETS

Reporting Cycle:

29/08/2012 09:33 AM



Investment receivables 1 3,251,750

Total = Row 14 of Form 1 26 3,251,750


2011 12

ANNUAL RETURN: ANNEX 1J - BREAKDOWN OF OTHER ASSETS

Reporting Cycle:

29/08/2012 09:33 AM


122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1L - INTER-FUND BALANCES AND

Description

Balances due to head office / shareholders fund

Balances due to overseas branches / related corporations

Balances due to other insurance funds established andmaintained under the Act


Row No.

1

2

3

4

Amount

0

0

0

0

INTRA-GROUP BALANCES (DUE TO)

29/08/2012 09:33 AM


122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1L - INTER-FUND BALANCES AND

Description


Balances due to overseas branches / related corporations

Balances due to other insurance funds established andmaintained under the Act


Row No.

1

2

3

4

Amount

12,864,093

0

1,026,395

13,890,488

INTRA-GROUP BALANCES (DUE TO)

29/08/2012 09:33 AM



Provision for tax 1 1,160,274

Provision for contingency reserve 2 1,146,861

Foreign currency translation differences 3 -7,886,989

Total = Row 23 of Form 1 26 -5,579,854

Reporting Cycle: 122011


ANNUAL RETURN: ANNEX 1M - BREAKDOWN OF OTHERS

29/08/2012 09:33 AM



Provision for tax 1 1,751,947

Accrued fund management fee 2 45


Foreign currency translation differences 4 -143,665,042

Total = Row 23 of Form 1 26 -136,366,470



ANNUAL RETURN: ANNEX 1M - BREAKDOWN OF OTHERS

29/08/2012 09:33 AM


122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1N - SURPLUS

Description

Surplus at beginning of period

Net income

Transfer (to) from head office / shareholders fund

Surplus at End of Period (1 to 3) = Row 25 of Form 1

Row No.

1

2

3

4

Amount

56,389,375

14,248,619

0

70,637,994

29/08/2012 09:33 AM


122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1N - SURPLUS

Description

Surplus at beginning of period

Net income

Transfer (to) from head office / shareholders fund

Surplus at End of Period (1 to 3) = Row 25 of Form 1

Row No.

1

2

3

4

Amount

804,479,029

-253,781,249

-32,534,000

518,163,780

29/08/2012 09:33 AM


122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1(ii) - INFORMATION IN RESPECT OF REDUCTION IN UNEARNED PREMIUM RESERVES

DUE TO REINSURANCE CEDED TO REINSURERS IN RESPECT OF GENERAL BUSINESS

Description

Registered insurer / foreign insurer under the foreign insurer scheme

Authorised reinsurer / related corporation / head office / branch of head office of theregistered insurer

Unregistered reinsurer

Total (1 to 3)

Row No.

1

2

3

4

Amount

0

0

3,198,056

3,198,056

29/08/2012 09:33:48 AM


122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 1(ii) - INFORMATION IN RESPECT OF REDUCTION IN UNEARNED PREMIUM RESERVES

DUE TO REINSURANCE CEDED TO REINSURERS IN RESPECT OF GENERAL BUSINESS

Description

Registered insurer / foreign insurer under the foreign insurer scheme

Authorised reinsurer / related corporation / head office / branch of head office of theregistered insurer


Total (1 to 3)

Row No.

1

2

3

4

Amount

0

0

83,183,693

83,183,693

29/08/2012 09:33:48 AM

Description of Assets and Name of Investee Company

Name of company: -

Equity securities

Debt securities

Secured loans

Unsecured loans


Row No.

1

2

3

4

5

No. of Units

0

0

0

0

0

Cost

0

0

0

0

0

Amount

0

0

0

0

0


A RELATED CORPORATION OF REGISTERED INSURER

ANNUAL RETURN: ANNEX 1(iii) - INFORMATION IN RESPECT OF INVESTMENTS IN

Reporting Cycle:

R978C

2011 12


29/08/2012 09:34:04 AM

Description of Assets and Name of Investee Company

Name of company: -

Equity securities

Debt securities

Secured loans

Unsecured loans


Row No.

1

2

3

4

5

No. of Units

0

0

0

0

0

Cost

0

0

0

0

0

Amount

0

0

0

0

0


A RELATED CORPORATION OF REGISTERED INSURER

ANNUAL RETURN: ANNEX 1(iii) - INFORMATION IN RESPECT OF INVESTMENTS IN

Reporting Cycle:

R978C

2011 12


29/08/2012 09:34:04 AM


R978C

ANNUAL RETURN: NOTES TO FORM 1



Note 1 The aggregate amounts of loans to and amounts due from - Amount

(a) Directors 0

(b) Employees of the registered insurer 0

Note 3 - Description of any change in accounting policies and methodologies in the valuation ofassets and liabilities and the quantification of their effects.

NIL

Note 4 - Description of any prior adjustment and correction for errors and reasons for theadjustments and corrections.

NIL

Note 5 In respect of financial guarantee business - Amount

(a) where premiums are payable in instalments, the present value of futureinstalment premiums payable by the insured in a future accounting period 0

and discount rate used 0

(b) where the premiums are payable in full at the commencement of the policy ofinsurance, the full amount of the premiums payable by the insured in the accountingperiod in which the policy commences.

0

29/08/2012 09:34 AM


R978C




Note 1 The aggregate amounts of loans to and amounts due from - Amount

(a) Directors 0

(b) Employees of the registered insurer 0

Note 3 - Description of any change in accounting policies and methodologies in the valuation ofassets and liabilities and the quantification of their effects.

NIL

Note 4 - Description of any prior adjustment and correction for errors and reasons for theadjustments and corrections.

NIL

Note 5 In respect of financial guarantee business - Amount

(a) where premiums are payable in instalments, the present value of futureinstalment premiums payable by the insured in a future accounting period 0

and discount rate used 0

(b) where the premiums are payable in full at the commencement of the policy ofinsurance, the full amount of the premiums payable by the insured in the accountingperiod in which the policy commences.

0

29/08/2012 09:34 AM



ANNUAL RETURN: FORM 1 - ADDITIONAL INFORMATION

Method of translating Functional Currency (USD) to Presentation Currency (SGD).------------------------------------------------------------------------------------------------------------All assets and liabilities are translated from the functional currency (USD) to the presentationcurrency (SGD) at exchange rate prevailing at reporting date. All income and expenses aretranslated at average exchange rate during the reporting period. Share capital and reserves aretranslated at historical rate. Any translation differences are posted to Foreign Currency TranslationReserve and classified as Other Liabilities for MAS reporting purposes. Negative balances in Row 23 is due to translation differences arising from translating the Company'sfunctional currency (USD) to presentation currency (SGD). These balances can be analyzed asfollows: SIF OIF ------ ------Translation differences -7,886,989 -143,665,042Other Liabilities 2,307,135 7,298,572 --------------- -------------------Net Balances -5,579,854 -136,366,470 --------------- ------------------- SIF & OIF (Other invested assets)----------------------------------------The negative invested assets is due to the decrease in market value.

29/08/2012 09:33 AM


ANNUAL RETURN: FORM 2 - FUND PROFIT AND LOSS ACCOUNT

Reporting Cycle: 12


Description

Gross premiums

Less: Outward reinsurance premiums

Investment revenue

Less: Investment expenses

Other income

Total Income (1 to 5)

Gross claims settled

Less: Reinsurance recoveries

Management expenses

Distribution expenses

Increase (decrease) in net policy liabilities

Provision for doubtful debts/ bad debts written off on receivables

Taxation expenses

Other expenses

Total Outgo (7 to 14)

Net Income (6 - 15)

Annex

2A

2B

2C

2D

2E

2F

2G

2H

2I

2J

RowNo.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

Amount

55,541,324

4,565,527

3,045,791

27,742

390

53,994,236

20,486,502

2,717,542

2,567,254

13,924,839

735,228

0

(31,994)

4,781,330

39,745,617

14,248,619

2011

29/08/2012 09:33 AM


ANNUAL RETURN: FORM 2 - FUND PROFIT AND LOSS ACCOUNT

Reporting Cycle: 12


Description

Gross premiums


Investment revenue


Other income




Management expenses



Provision for doubtful debts/ bad debts written off on receivables

Taxation expenses

Other expenses


Net Income (6 - 15)

Annex

2A

2B

2C

2D

2E

2F

2G

2H

2I

2J

RowNo.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

Amount

795,594,654

190,462,796

48,246,516

847,049

418,605

652,949,930

370,073,235

126,373,910

48,580,517

118,220,732

472,285,932

134,381

(1,548,378)

25,358,670

906,731,179

(253,781,249)

2011

29/08/2012 09:33 AM


122011Reporting Cycle:

ANNUAL RETURN: ANNEX 2B - OUTWARD REINSURANCE PREMIUMS


Description

Registered insurer / foreign insurer under the foreing insurerscheme

Authorised reinsurer / related corporation / head office / branch ofhead office of the registered insurer



Row No.

1

2

3

4

Amount

0

0

4,565,527

4,565,527

29/08/2012 09:34:07 AM



ANNUAL RETURN: ANNEX 2B - OUTWARD REINSURANCE PREMIUMS


Description

Registered insurer / foreign insurer under the foreing insurerscheme

Authorised reinsurer / related corporation / head office / branch ofhead office of the registered insurer



Row No.

1

2

3

4

Amount

0

0

190,462,796

190,462,796

29/08/2012 09:34:07 AM


Description

Equity securities

Debt securities

Land and Buildings

Loans

Cash and deposits



Row No.

1

2

3

4

5

6

7

Interest / Dividend /Rental Income

5,938

3,435,876

0

0

25,347

0

Realised Gains(Losses) From Last

Reported Value /Write-backs(Write-offs)

0

601,558

0

0

0

0

Unrealised ChangesFrom Last Reported

Value

0

-812,189

0

0

0

-210,739

Amount

5,938

3,225,245

0

0

25,347

-210,739

3,045,791

122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 2C - INVESTMENT REVENUE

29/08/2012 09:33:51 AM


Description

Equity securities

Debt securities

Land and Buildings

Loans

Cash and deposits



Row No.

1

2

3

4

5

6

7

Interest / Dividend /Rental Income

12,647

18,942,591

0

1,141,037

152,339

0

Realised Gains(Losses) From Last

Reported Value /Write-backs(Write-offs)

27,602,472

15,393,617

0

0

0

299,719

Unrealised ChangesFrom Last Reported

Value

0

-15,449,953

0

0

0

152,047

Amount

27,615,119

18,886,255

0

1,141,037

152,339

451,766

48,246,516

122011


Reporting Cycle:

ANNUAL RETURN: ANNEX 2C - INVESTMENT REVENUE

29/08/2012 09:33:51 AM



ANNUAL RETURN: ANNEX 2D - BREAKDOWN OF OTHER INCOME



Interest on premium deposits 1 390


29/08/2012 09:34:09 AM



ANNUAL RETURN: ANNEX 2D - BREAKDOWN OF OTHER INCOME



Interest on premium deposit 1 418,605

Total = Row 5 of Form 2 26 418,605

29/08/2012 09:34:09 AM



ANNUAL RETURN: ANNEX 2F - MANAGEMENT EXPENSES


Description

Staff salaries & expenses

Office rent

Head office / parent company expenses

Directors' fees

Audit fees

Managing agent's fees

Repairs and maintenance

Public utilities

Printing, stationery and periodicals

Postage, telephone and telex charges

Computer charges

Hire of office equipment

Licence and association fees

Advertising and subscriptions

Entertainment

Travelling expenses

Row No.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

Amount

1,951,896

113,448

0

23,752

19,644

82,514

7,249

4,714

22,793

6,746

136,617

2,758

3,594

819

12,467

99,891

Corporate promotion 1 13,483

Assets not capitalised 2 318

Professional fees 3 57,549

Miscellaneous expenses 4 291

Office insurance 5 4,420

Motor vehicle running expenses 6 2,291

Total = Row 9 of Form 2 27 2,567,254

29/08/2012 09:34:12 AM



ANNUAL RETURN: ANNEX 2F - MANAGEMENT EXPENSES


Description

Staff salaries & expenses

Office rent

Head office / parent company expenses

Directors' fees

Audit fees

Managing agent's fees

Repairs and maintenance

Public utilities

Printing, stationery and periodicals

Postage, telephone and telex charges

Computer charges

Hire of office equipment

Licence and association fees

Advertising and subscriptions

Entertainment

Travelling expenses

Row No.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

Amount

36,928,917

2,101,038

0

468,214

418,338

1,666,808

101,188

85,355

338,648

572,831

2,533,628

51,867

66,484

11,051

231,321

1,864,086

Corporate promotion 1 240,884

Assets not capitalised 2 23,204

Professional fees 3 750,886

Miscellaneous expenses 4 2,189

Motor vehicle running expenses 5 46,739

Office insurance 6 76,841

Total = Row 9 of Form 2 27 48,580,517

29/08/2012 09:34:12 AM


ANNUAL RETURN: ANNEX 2I - BREAKDOWN OF OTHER EXPENSES

Reporting Cycle:

R978C

122011



Depreciation 1 110,953


Net foreign exchange differences 3 3,563,164

Bank charges 4 2,763

Total = Row 14 of Form 2 26 4,781,330

29/08/2012 09:34:15 AM


ANNUAL RETURN: ANNEX 2I - BREAKDOWN OF OTHER EXPENSES

Reporting Cycle:

R978C

122011



Depreciation 1 1,656,093


Bank charges 3 88,331

Net foreign exchange differences 4 18,272,778

Total = Row 14 of Form 2 26 25,358,670

29/08/2012 09:34:15 AM


Reporting Cycle: 2011 12


NIL

29/08/2012 09:33 AM




ANNUAL RETURN: FORM 6 - STATEMENT OF PREMIUMS, CLAIMS AND UNDERWRITING RESULTS IN RESPECT OF GENERAL BUSINESS

Description

A. PREMIUMS

Gross premiums

Direct business

Reinsurance business accepted -

In Singapore

From other ASEAN countries

From other countries

Total (2 to 4)

Reinsurance business ceded -

In Singapore

To other ASEAN countries

To other countries

Total (6 to 8)

Net premiums written (1 + 5 - 9)

Premium liabilities at beginning of period

Premium liabilities at end of period

Premiums earned during the period (10 + 11 - 12)

B. CLAIMS


Direct business


In Singapore



Total (15 to 17)

Recoveries from reinsurance business ceded -

In Singapore


To other countries

Total (19 to 21)

Net claims settled (14 + 18 - 22)

Claims liabilities at end of period

Claims liabilities at beginning of period

Net claims incurred (23 + 24 - 25)

C. MANAGEMENT EXPENSES

Management Expenses

D. DISTRIBUTION EXPENSES

Commissions

Reinsurance commissions

Net commissions incurred (28 - 29)

Other distribution expenses

E. UNDERWRITING RESULTS

Underwriting gain / (loss) (13 - 26 - 27 - 30 - 31)

F. NET INVESTMENT INCOME

G. OPERATING RESULT (32 + 33)

RowNo.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

32

33

34

Marine andAviation - Cargo

0

479,668

0

24,485

504,153

29,470

0

4,131

33,601

470,552

373,276

372,632

471,196

0

57,424

0

2,049

59,473

19,891

0

410

20,301

39,172

575,212

815,066

(200,682)

23,199

152,282

29,236

123,046

0

525,633

27,273

552,906

Marine andAviation - Hulland Liability

0

4,296,028

17,579

600,647

4,914,254

1,246,706

7,780

244,114

1,498,600

3,415,654

3,470,693

2,770,489

4,115,858

0

5,708,492

5,433

133,104

5,847,029

938,960

1,087

34,874

974,921

4,872,108

7,369,550

10,969,412

1,272,246

226,133

1,106,847

434,640

672,207

0

1,945,272

265,840

2,211,112

Fire

0

3,197,249

0

0

3,197,249

1,179,030

0

131,580

1,310,610

1,886,639

1,833,436

1,040,036

2,680,039

0

1,346,007

0

0

1,346,007

1,002,216

0

0

1,002,216

343,791

3,304,291

2,863,703

784,379

147,124

1,245,991

549,768

696,223

0

1,052,313

172,958

1,225,271

Motor

0

4,814,015

0

0

4,814,015

590,702

0

0

590,702

4,223,313

3,897,048

2,783,176

5,337,185

0

2,472,617

0

0

2,472,617

643,988

0

0

643,988

1,828,629

6,178,435

6,514,863

1,492,201

221,520

1,186,508

172,260

1,014,248

0

2,609,216

260,417

2,869,633

Work InjuryCompensation

0

273,392

0

0

273,392

12

0

0

12

273,380

30,965

126,029

178,316

0

51,599

0

0

51,599

148

0

0

148

51,451

214,843

102,363

163,931

12,580

51,966

1

51,965

0

(50,160)

14,789

(35,371)

PersonalAccident

0

226,448

0

0

226,448

136

0

0

136

226,312

0

0

226,312

0

2,800

0

0

2,800

56

0

0

56

2,744

120,484

342,920

(219,692)

10,420

27,281

67

27,214

0

408,370

12,250

420,620

Health

0

(249,535)

0

0

(249,535)

0

0

0

0

(249,535)

25,578

14,222

(238,179)

0

2,232

0

0

2,232

0

0

0

0

2,232

44,724

242,263

(195,307)

0

(85,861)

0

(85,861)

0

42,989

0

42,989

Misc - PublicLiability

0

91,723

0

0

91,723

9

0

0

9

91,714

11,700

45,385

58,029

0

1,740

0

0

1,740

14

0

0

14

1,726

150,164

170,369

(18,479)

4,221

18,585

0

18,585

0

53,702

4,962

58,664

Misc - Bonds

0

11,573,187

0

0

11,573,187

2,938

0

0

2,938

11,570,249

6,372,405

7,971,567

9,971,087

0

1,032,895

0

0

1,032,895

(6,956)

0

0

(6,956)

1,039,851

4,559,597

4,559,808

1,039,640

532,548

4,465,371

(33)

4,465,404

0

3,933,495

626,060

4,559,555

Misc -Engineering /

CAR / EAR

0

2,534,613

0

57

2,534,670

1,102,310

0

3,831

1,106,141

1,428,529

1,896,949

2,046,183

1,279,295

0

289,229

0

8,898

298,127

60,767

0

1,335

62,102

236,025

2,547,220

2,609,489

173,756

116,635

680,538

315,452

365,086

0

623,818

137,115

760,933

Misc -Professional

Indemnity

0

189,171

0

0

189,171

113

0

0

113

189,058

163,200

280,763

71,495

0

0

0

0

0

0

0

0

0

0

53,845

122,449

(68,604)

8,705

46,156

0

46,156

0

85,238

10,233

95,471

Misc - Credit /Political Risk

0

6,252,387

0

0

6,252,387

8

0

0

8

6,252,379

148,212

1,670,696

4,729,895

0

0

0

0

0

0

0

0

0

0

1,495,289

247,611

1,247,678

287,708

1,401,281

0

1,401,281

0

1,793,228

338,228

2,131,456

Misc - Others

0

21,224,967

(4,757)

0

21,220,210

23,579

(922)

0

22,657

21,197,553

5,730,308

8,086,342

18,841,519

0

9,365,103

6,880

0

9,371,983

20,752

0

0

20,752

9,351,231

18,308,914

17,880,774

9,779,371

976,461

5,136,317

7,032

5,129,285

0

2,956,402

1,147,924

4,104,326

Misc - Sub-Total

0

41,866,048

(4,757)

57

41,861,348

1,128,957

(922)

3,831

1,131,866

40,729,482

14,322,774

20,100,936

34,951,320

0

10,688,967

6,880

8,898

10,704,745

74,577

0

1,335

75,912

10,628,833

27,115,029

25,590,500

12,153,362

1,926,278

11,748,248

322,451

11,425,797

0

9,445,883

2,264,522

11,710,405

Total

0

54,903,313

12,822

625,189

55,541,324

4,175,013

6,858

383,656

4,565,527

50,975,797

23,953,770

27,207,520

47,722,047

0

20,330,138

12,313

144,051

20,486,502

2,679,836

1,087

36,619

2,717,542

17,768,960

44,922,568

47,441,090

15,250,438

2,567,254

15,433,262

1,508,423

13,924,839

0

15,979,516

3,018,049

18,997,565

29/08/2012 09:33 AM




ANNUAL RETURN: FORM 6 - STATEMENT OF PREMIUMS, CLAIMS AND UNDERWRITING RESULTS IN RESPECT OFGENERAL BUSINESS

Description

A. PREMIUMS

Gross premiums

Direct business


In Singapore



Total (2 to 4)

Reinsurance business ceded -

In Singapore


To other countries

Total (6 to 8)

Net premiums written (1 + 5 - 9)

Premium liabilities at beginning of period

Premium liabilities at end of period

Premiums earned during the period (10 + 11 - 12)

B. CLAIMS


Direct business


In Singapore



Total (15 to 17)

Recoveries from reinsurance business ceded -

In Singapore


To other countries

Total (19 to 21)

Net claims settled (14 + 18 - 22)

Claims liabilities at end of period

Claims liabilities at beginning of period

Net claims incurred (23 + 24 - 25)

C. MANAGEMENT EXPENSES

Management Expenses

D. DISTRIBUTION EXPENSES

Commissions

Reinsurance commissions

Net commissions incurred (28 - 29)

Other distribution expenses

E. UNDERWRITING RESULTS

Underwriting gain / (loss) (13 - 26 - 27 - 30 - 31)

F. NET INVESTMENT INCOME

G. OPERATING RESULT (32 + 33)

RowNo.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

32

33

34

Marine andAviation - Cargo

0

456,570

3,574,115

14,452,082

18,482,767

107,703

853,311

3,803,530

4,764,544

13,718,223

3,258,547

4,553,343

12,423,427

0

37,578

1,044,919

7,848,935

8,931,432

7,516

15,588

2,193,605

2,216,709

6,714,723

17,216,930

8,113,624

15,818,029

1,128,593

5,044,898

1,548,061

3,496,837

0

(8,020,032)

1,101,155

(6,918,877)

Marine andAviation - Hulland Liability

0

15,347,879

22,263,202

102,470,312

140,081,393

4,640,665

11,076,319

34,804,540

50,521,524

89,559,869

64,264,898

58,707,559

95,117,208

0

11,174,096

11,527,314

58,545,735

81,247,145

421,990

1,716,565

13,439,771

15,578,326

65,668,819

117,455,800

104,636,680

78,487,939

8,553,635

27,141,723

11,268,579

15,873,144

0

(7,797,510)

8,345,686

548,176

Property

0

6,227,594

132,289,826

300,171,007

438,688,427

2,646,656

33,703,480

86,307,038

122,657,174

316,031,253

82,409,489

97,061,764

301,378,978

0

467,068

28,169,340

171,686,607

200,323,015

195,077

10,510,528

79,599,699

90,305,304

110,017,711

603,986,590

222,179,300

491,825,001

26,787,147

86,861,346

32,877,484

53,983,862

0

(271,217,032)

26,135,919

(245,081,113)

Casualty andOthers

0

1,321,090

16,670,401

180,350,576

198,342,067

5,086

422,512

12,091,956

12,519,554

185,822,513

56,958,610

81,451,340

161,329,783

0

(22,877)

1,536,133

78,058,387

79,571,643

0

73,010

18,200,561

18,273,571

61,298,072

127,922,154

94,248,400

94,971,826

12,111,142

45,309,430

442,541

44,866,889

0

9,379,926

11,816,707

21,196,633

Total

0

23,353,133

174,797,544

597,443,977

795,594,654

7,400,110

46,055,622

137,007,064

190,462,796

605,131,858

206,891,544

241,774,006

570,249,396

0

11,655,865

42,277,706

316,139,664

370,073,235

624,583

12,315,691

113,433,636

126,373,910

243,699,325

866,581,474

429,178,004

681,102,795

48,580,517

164,357,397

46,136,665

118,220,732

0

(277,654,648)

47,399,467

(230,255,181)

29/08/2012 09:33 AM


Note 2 - Particulars on reinsurances of special risks other than reinsurances of liabilitiesunder a marine and aviation policy.

NIL

Note 1 - Items in this Form may be allocated according to a reasonable basis used by theregistered insurer which is acceptable to its external auditor. The bases used shall be statedas a Note to this Form.

Management expenses and Investment income are allocated to each class of business based ongross written premiums.

R978C




29/08/2012 09:34 AM


Note 2 - Particulars on reinsurances of special risks other than reinsurances of liabilitiesunder a marine and aviation policy.

NIL

Note 1 - Items in this Form may be allocated according to a reasonable basis used by theregistered insurer which is acceptable to its external auditor. The bases used shall be statedas a Note to this Form.

Management expenses and investment income are allocated to each class of business based ongross written premiums.

R978C




29/08/2012 09:34 AM




NIL

29/08/2012 09:33 AM

ANNUAL RETURN: FORM 8 - BALANCE SHEET IN RESPECT OF GLOBAL BUSINESS OPERATIONS

Reporting Cycle:

Description

ASSETSEquity securitiesDebt securitiesLand and buildings

LoansCash and deposits



Outstanding premiums and agents' balancesDeposits withheld by cedantsReinsurance recoverables (on paid claims)Income tax recoverables

Fixed assets

Inter-fund balances and intra-group balances (due from)

Other assetsTotal Assets (1 to 14)LIABILITIESPolicy liabilitiesOther liabilities

Outstanding claims Annuities due and unpaid

Reinsurance deposits Amounts owing to insurers Bank loans and overdrafts


RowNo.

123

45

6

7

89

1011

12

13

1415

16

1718

192021

22

OthersTotal Liabilities (16 to 23)NET ASSETS (15 - 24)SHAREHOLDERS' EQUITY & SURPLUSPaid-up capital

Reserves:

Unappropriated profits (losses) Other reserves

Surplus

Total (26 to 29)

232425

26

2728

29

30

ANNUAL RETURN: ANNEX 8A - STATEMENT OF CHANGES IN EQUITY OF SHAREHOLDERS FUND

Reporting Cycle:

Description

Balance at beginning of period

Changes in accounting policy

Increase (decrease) in reserves

Net profit for the period

Dividends paid for the period

Issue of share capital

Transfer (to) from insurance funds maintained in Singapore

Transfer (to) from overseas (branch) operations

Balance at End of Period

Row No.

1

2

3

4

5

6

7

8

9

29/08/2012 09:34 AM

ANNUAL RETURN: ANNEX 8B - INTRA-GROUP BALANCES IN RESPECT OF OVERSEAS OPERATIONS(GENERAL BUSINESS)

Reporting Cycle:

Description

Due From


Balances due from related corporations

Balances due from insurance funds established and maintained under theAct

Total Balances Due From

Due To


Balances due to related corporations

Balances due to insurance funds established and maintained under the Act

Total Balances Due To

Total Net Balances (4 - 8)

Row No.

1

2

3

4

5

6

7

8

9

Amount

29/08/2012 09:34 AM

Reporting Cycle:


Note 1 Breakdown of "Other Reserves" Row No. Amount

29/08/2012 09:34 AM


Reporting Cycle:

29/08/2012 09:33 AM

ANNUAL RETURN: FORM 9 - PROFIT AND LOSS ACCOUNT IN RESPECT OF GLOBAL BUSINESS OPERATIONS

Reporting Cycle:

Description

Gross premiums


Investment revenue


Other income




Management expenses



Provision for doubtful debts / bad debts writtenoff on receivables

Taxation expenses

Other expenses

Row No.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

29/08/2012 09:34 AM


NET INCOME (6 - 15)

15

16

29/08/2012 09:34 AM


Reporting Cycle:

29/08/2012 09:34 AM



ANNUAL RETURN: FORM 20 - ACTUARY'S CERTIFICATE ON POLICY LIABILITIES INRESPECT OF GENERAL BUSINESS

ACTUARIAL INVESTIGATION OF POLICY LIABILITIES

Description

Premium Liabilities

Claim Liabilities

Policy Liabilities

Singapore Insurance Fund

27,207,520

44,922,568

72,130,088

Offshore Insurance Fund

241,774,006

866,581,474

1,108,355,480

I have conducted an investigation into the valuation of policy liabilities relating to general businessas required under section 37 of the Insurance Act and confirm that the valuation is in accordance withall applicable requirements stipulated under the Act and directions issued under the Act, subject tothe qualifications stated below*. I certify these amounts, net of reinsurance, as follows:

*Qualifications (if none, state "none"):

None

29/08/2012 09:34:35 AM




NIL

R978C

29/08/2012 09:34 AM


ANNUAL RETURN: FORM 21 - STATEMENT IN RELATION TO FUND SOLVENCY REQUIREMENT OFINSURANCE FUND

Reporting Cycle:

Description

(i) Financial Resources of Insurance Fund

Balance in the surplus account (of participating fund)

Add:

Allowance for provision for non-guaranteed benefits

(of participating fund): (lower of 3 or 4)

Policy liabilities - minimum condition liability

50% of aggregate of provisions for non-guaranteed benefits and PAD

Surplus of insurance fund (of any other insurance fund)

Less:

Reinsurance adjustment

Financial resource adjustment: (8 to 12)

(a) loans to, guarantees granted for, and other

unsecured amounts owed to the registered insurer

(b) charged assets

(c) deferred tax assets

(d) intangible assets

(e) other financial resource adjustments

Financial Resources of Insurance Fund

(1 + 2 + 5 - 6 - 7)

(ii) Total Risk Requirement of Insurance Fund

A. Component 1 Requirement - Insurance Risks

Life Insurance Risk Requirement

(for participating fund): (15 + 18)

(a) Policy Liability Risk Requirement:

(zero or 16 - 17, whichever is higher)

Modified minimum condition liability

Minimum condition liability

(b) Surrender Value Condition Risk Requirement:


Aggregate of surrender values of policies of the insurance fund

Higher of 21 or 22:

Sum of total risk requirement and minimum condition

liability of the insurance fund

Policy liabilities of the insurance fund


(other than participating fund) (24 + 27)



Modified policy liabilities

Policy Liabilities




Sum of total risk requirement and policy liabilities of the insurance fund

General Insurance Risk Requirement

(for general business): (31 to 32)

(a) Premium liability risk requirement

(b) Claim liability risk requirement

Total C1 Requirement (14 + 23 + 30)

B. Component 2 Requirement - Investment Risks and Risks arising

from Interest Rate Sensitivity and Foreign Currency Mismatch

between Asset and Liabilities

Equity Investment Risk Requirement (35 to 36)

(a) Specific Risk Requirement

Row No.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

32

33

34

35

Amount

0

0

0

0

0

0

7,886,989

0

0

0

0

0

0

0

0

0

0

0

0

0

0

3,371,339

12,351,291

0

0

0

70,637,994

2,153,197

7,886,989

60,597,808

0

0

15,722,630

15,722,630

0

2011 12


29/08/2012 09:33:41 AM

(b) General Risk Requirement

Debt Investment and Duration Mismatch Risk Requirement:

(38 or 43, whichever is higher)

(a) Sum of: (39 + 42)

Debt investment risk requirement in an increasing interest rate

environment (40 to 41)

Debt specific risk requirement

Debt general risk requirement

Liability adjustment requirement in an increasing interest rate environment

(b) Sum of: (44 + 47)

Debt investment risk requirement in a decreasing interest rate



Negative of debt general risk requirement

Liability adjustment requirement in a decreasing interest rate environment

Loan Investment Risk Requirement

Property Risk Requirement

Foreign Currency Mismatch Risk Requirement (for Singapore Insurance Fund)

Derivative Counterparty Risk Requirement

Miscellaneous Risk Requirement

Total C2 Requirement (34 + 37 + 48 + 49 + 50 + 51 + 52)

C. Component 3 Requirement - Concentration Risks Counterparty Exposure Equity Securities Exposure Unsecured Loans Exposure Property Exposure Foreign Currency Risk Exposure Exposure to assets in miscellaneous risk requirements

Exposure to non-liquid assets with Singapore Insurance Fund

(for general business)

Total C3 Requirement (54 to 60)

Total Risk Requirement of Insurance Fund (33 + 53 +61)

36

37

38

39

40

41

42

43

44

45

46

47

48

49

50

51

52

53

545556575859

60

61

62

0

3,065,732

3,065,732

1,509,909

1,555,823

0

-45,914

-45,914

1,509,909

-1,555,823

0

3,065,732

0

0

1,328,053

2,414

2,687,289

7,083,488

000000

0

0

22,806,118

29/08/2012 09:33:41 AM


ANNUAL RETURN: FORM 21 - STATEMENT IN RELATION TO FUND SOLVENCY REQUIREMENT OFINSURANCE FUND

Reporting Cycle:

Description

(i) Financial Resources of Insurance Fund

Balance in the surplus account (of participating fund)

Add:

Allowance for provision for non-guaranteed benefits

(of participating fund): (lower of 3 or 4)

Policy liabilities - minimum condition liability

50% of aggregate of provisions for non-guaranteed benefits and PAD

Surplus of insurance fund (of any other insurance fund)

Less:



(a) loans to, guarantees granted for, and other

unsecured amounts owed to the registered insurer

(b) charged assets




Financial Resources of Insurance Fund

(1 + 2 + 5 - 6 - 7)

(ii) Total Risk Requirement of Insurance Fund



(for participating fund): (15 + 18)








Higher of 21 or 22:

Sum of total risk requirement and minimum condition

liability of the insurance fund

Policy liabilities of the insurance fund


(other than participating fund) (24 + 27)




Policy Liabilities




Sum of total risk requirement and policy liabilities of the insurance fund

General Insurance Risk Requirement

(for general business): (31 to 32)




B. Component 2 Requirement - Investment Risks and Risks arising

from Interest Rate Sensitivity and Foreign Currency Mismatch

between Asset and Liabilities

Equity Investment Risk Requirement (35 to 36)




Row No.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

32

33

34

35

36

Amount

0

0

0

0

0

0

143,665,042

0

0

0

0

0

0

0

0

0

0

0

0

0

0

42,861,169

0

0

0

0

0

518,163,780

43,773,220

143,665,042

330,725,518

0

0

42,861,169

42,861,169

0

2011 12


29/08/2012 09:33:41 AM


(a) Sum of: (39 + 42)

Debt investment risk requirement in an increasing interest rate





(b) Sum of: (44 + 47)

Debt investment risk requirement in a decreasing interest rate







Foreign Currency Mismatch Risk Requirement (for Singapore Insurance Fund)



Total C2 Requirement (34 + 37 + 48 + 49 + 50 + 51 + 52)

C. Component 3 Requirement - Concentration Risks Counterparty Exposure Equity Securities Exposure Unsecured Loans Exposure Property Exposure Foreign Currency Risk Exposure Exposure to assets in miscellaneous risk requirements

Exposure to non-liquid assets with Singapore Insurance Fund

(for general business)

Total C3 Requirement (54 to 60)

Total Risk Requirement of Insurance Fund (33 + 53 +61)

37

38

39

40

41

42

43

44

45

46

47

48

49

50

51

52

53

545556575859

60

61

62

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

000000

0

0

42,861,169

29/08/2012 09:33:41 AM




NIL

29/08/2012 09:33:41 AM

Reporting Cycle:

ANNUAL RETURN: FORM 22 - STATEMENT IN RELATION TO TOTAL RISK REQUIREMENT OF ASSETS ANDLIABILITIES OF REGISTERED INSURER THAT DO NOT BELONG TO ANY INSURANCE FUND ESTABLISHED AND

MAINTAINED UNDER THE ACT

Description

(i) Total Risk Requirement


Life Insurance Risk Requirement:

(for participating business only) (2 + 5)

(a) Policy Liability Risk Requirement: (zero or 3 - 4, whichever is higher)



(b) Surrender Value Condition Risk Requirement: (zero or 6 - 7, whichever is higher)

Aggregate of surrender values of policies

Higher of 8 or 9:

Sum of total risk requirement and minimum condition liability

Policy liabilities

Life Insurance Risk Requirement: (other than participating business) (11 + 14)

(a) Policy Liability Risk Requirement: (zero or 12 - 13, whichever is higher)


Policy liabilities

(b) Surrender Value Condition Risk Requirement: (zero or 15 - 16, whichever is higher)

Aggregate of surrender values of policies

Sum of total risk requirement and policy liabilities

General Insurance Risk Requirement (for general business) (18 to 19)




B. Component 2 Requirement - Investment Risks and Risks arising from Interest

Rate Sensitivity and Foreign Currency Mismatch between Asset and Liabilities

Equity Investment Risk Requirement: (22 to 23)





(a) Sum of: (26 + 29)

Debt investment risk requirement in an increasing interest rate environment

(27 to 28)

29/08/2012 09:34:32 AM




(b) Sum of: (31 + 34)

Debt investment risk requirement in a decreasing interest rate environment

(32 to 33)








Total C2 Requirement (21 + 24 + 35 + 36 + 37 + 38)

Total Risk Requirement of Assets and Liabilities of Registered Insurer that do not

belong to any insurance fund established and maintained under the Act (20 + 39)

29/08/2012 09:34:32 AM

Reporting Cycle:


29/08/2012 09:34:32 AM

FORM 23 - STATEMENT IN RELATION TO CAPITAL ADEQUACY REQUIREMENT OF REGISTERED INSURER

ANNUAL RETURN

Reporting Cycle:

Description

(i) Financial Resources of Registered Insurer

A. Tier 1 Resource

Aggregate of surpluses of all insurance funds other than a participating fund

Balances in the surplus account of each participating fund

Paid-up ordinary share capital

Unappropriated profits (losses)

Surpluses of Overseas Branch Operations

Irredeemable and non-cumulative preference shares

Any other capital instrument approved by the Authority as a Tier 1 resource

Less:



(a) loans to, guarantees granted for and other unsecured amounts owed to

the registered insurer

(b) charged assets




Total Tier 1 Resource (1 to 7 less 8 to 9)

B. Tier 2 Resource

Irredeemable and non-cumulative preference shares not recognised

as Tier 1 resource

Irredeemable and non-cumulative preference shares

Other Tier 2 resource

Total Tier 2 Resource (16 to 18)

C. Aggregate of allowance for provisions for non-guaranteed benefits

of participating funds

Financial Resources of Registered Insurer (higher of $5m or 15 + 19 +20)

(ii) Total Risk Requirement of Registered Insurer

(a) Total risk requirements of insurance funds established or maintained

under the Act

(b) Total risk requirements of assets and liabilities that do not belong to any

insurance fund established and maintained under the Act

Total Risk Requirement of Registered Insurer (22 to 23)

CAPITAL ADEQUACY RATIO (21/24)

Row No.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

29/08/2012 09:33:44 AM

Reporting Cycle:


29/08/2012 09:33:44 AM

Documents

ANNUAL RETURN: FORM 1 - FUND BALANCE SHEET/media/MAS/Statistics/Insurance Returns/annual_G... · ANNUAL RETURN: FORM 1 - FUND BALANCE SHEET Reporting Cycle: ... (15 - 24) Annex 1A