NTUC Income AR 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 14. DERIVATIVE FINANCIAL INSTRUMENTS 2017 Contract or Underlying Principal $’000 Positive Revaluation $’000 Negative Revaluation $’000 Net $’000 Life Insurance Par Fund Forward foreign exchange 10,785,383 97,781 35,850 61,931 Options 11,122 – 28 (28) Interest rate swaps 542,196 12,493 3,775 8,718 Futures 474,355 2,397 1,079 1,318 Cross currency swaps 967,888 13,456 35,235 (21,779) Bond forwards 13,649 84 139 (55) 12,794,593 126,211 76,106 50,105 Life Insurance Non-Par Fund Cross currency swaps 120,463 4,989 – 4,989 Forward foreign exchange 458,031 6,858 141 6,717 578,494 11,847 141 11,706 Investment-Linked Fund Forward foreign exchange 160,790 1,072 412 660 Futures 16,276 509 81 428 Cross currency swaps 1,335 19 – 19 178,401 1,600 493 1,107 General Insurance Fund Forward foreign exchange 303,849 3,708 80 3,628 Shareholders’ Fund Forward foreign exchange 696,220 6,717 2,254 4,463 Futures 57,616 287 199 88 Cross currency swaps 24,137 754 29 725 777,973 7,758 2,482 5,276 Total 14,633,310 151,124 79,302 71,822 ANNUAL REPORT 2017 NTUC INCOME INSURANCE CO-OPERATIVE LIMITED 104