NTUC Income AR 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 21. RESERVES FOR FUTURE DISTRIBUTION The Group has designated an amount of $513,721,000 (2016: $415,694,000) as reserves for future distribution. This amount relates to the ElderShield and IncomeShield business. The reserves are set aside because the underlying risk for IncomeShield and ElderShield is uncertain and of a long term nature, it is prudent to earmark this amount as being available for distribution only when the trend of the experience can be clearly established. 22. FEE AND OTHER INCOME 2017 Life Insurance Par Fund $’000 Life Insurance Non-Par Fund $’000 Investment- Linked Fund $’000 General Insurance Fund $’000 Share holders' Fund $’000 Total $’000 Reinsurance commission 2,477 109 4 3,416 – 6,006 Management and other fees 12,821 – – – – 12,821 15,298 109 4 3,416 – 18,827 2016 Life Insurance Par Fund $’000 Life Insurance Non-Par Fund $’000 Investment- Linked Fund $’000 General Insurance Fund $’000 Share holders' Fund $’000 Total $’000 Reinsurance commission 9,158 – – 2,958 – 12,116 Management and other fees 11,453 – – – – 11,453 20,611 – – 2,958 – 23,569 ANNUAL REPORT 2017 EVERY DAY MADE DIFFERENT 117