NTUC Income AR 2018

Notes to the Financial Statements For the Financial Year Ended 31 December 2018 19. Insurance and other payables 2018 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 Outstanding claims 50,059 68,812 – 1,573 – 120,444 Insurance and reinsurance payables 26,801 25,142 1,144 21,234 – 74,321 Investments and other payables 751,779 20,796 43,472 10,268 24,728 851,043 Contribution to Singapore Labour Foundation – – – – 21,897 21,897 Contribution to Central Co- operative Fund – – – – 25 25 Interfund balances 4,486 32,343 2,426 97,061 – 136,316 833,125 147,093 47,042 130,136 46,650 1,204,046 To be settled within 12 months 813,737 120,249 47,042 130,136 46,650 1,157,814 To be settled after 12 months 19,388 26,844 – – – 46,232 833,125 147,093 47,042 130,136 46,650 1,204,046 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 Outstanding claims 48,188 59,782 – 1,490 – 109,460 Insurance and reinsurance payables 80,875 20,017 967 21,682 – 123,541 Investments and other payables 651,464 15,584 52,368 11,629 30,543 761,588 Contribution to Singapore Labour Foundation – – – – 14,495 14,495 Contribution to Central Co- operative Fund – – – – 25 25 Interfund balances 2,421 26,522 – 71,260 – 100,203 782,948 121,905 53,335 106,061 45,063 1,109,312 To be settled within 12 months 763,006 100,338 53,335 106,060 45,063 1,067,802 To be settled after 12 months 19,942 21,567 – 1 – 41,510 782,948 121,905 53,335 106,061 45,063 1,109,312 At the reporting date, the carrying amounts of insurance and other payables approximate their fair value. 121 2018 ANNUAL REPORT