NTUC Income AR 2017

CONSOL IDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2017 The accompanying notes form an integral part of the financial statements. The Group 2017 Note 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 ASSETS Property, plant and equipment 5 8,531 – – – – 8,531 Intangible assets 6 42,538 530 – – 2,808 45,876 Investment properties 7 1,870,001 – – – – 1,870,001 Investment in subsidiaries 8 – – – – – – Investment in joint venture 9 90,655 – – – – 90,655 Investment in associated companies 10 361,750 – – – 117,673 479,423 Other financial assets 11 23,528,642 3,998,167 2,093,998 1,351,245 1,104,355 32,076,407 Loans 13 695,924 51 – – – 695,975 Derivative financial instruments 14 126,211 11,847 1,600 3,708 7,758 151,124 Reinsurers' share of insurance contract provisions 15 – – – 32,306 – 32,306 Insurance and other receivables 16 121,252 16,827 34,565 35,194 72,734 280,572 Cash and cash equivalents 17 424,148 56,370 43,204 37,675 24,364 585,761 Asset held for sale 31 1,220 – – – – 1,220 27,270,872 4,083,792 2,173,367 1,460,128 1,329,692 36,317,851 LIABILITIES Insurance contract provisions 15 25,529,694 2,332,752 2,117,978 664,903 – 30,645,327 Investment contract liabilities 10,454 – – – – 10,454 Derivative financial instruments 14 76,106 141 493 80 2,482 79,302 Borrowings 18 416,401 – – – 599,292 1,015,693 Insurance and other payables 19 782,948 121,905 53,335 106,061 45,063 1,109,312 26,815,603 2,454,798 2,171,806 771,044 646,837 32,860,088 NET ASSETS 455,269 1,628,994 1,561 689,084 682,855 3,457,763 SHARE CAPITAL AND RESERVES Share capital 20 – – – – 988,083 988,083 Treasury shares – – – – (14,159) (14,159) Reserves for future distribution 21 – 513,721 – – – 513,721 Fair value reserve – 203 – 7,475 64,971 72,649 Accumulated deficit of shareholders' fund 29 – – – – (356,040) (356,040) Accumulated surplus of insurance funds – Life insurance par fund 28 450,160 – – – – 450,160 – Other insurance funds 29 – 1,115,070 1,561 681,609 – 1,798,240 450,160 1,628,994 1,561 689,084 682,855 3,452,654 Non-controlling interest 5,109 – – – – 5,109 Total equity 455,269 1,628,994 1,561 689,084 682,855 3,457,763 ANNUAL REPORT 2017 NTUC INCOME INSURANCE CO-OPERATIVE LIMITED 38