NTUC Income AR 2018

The Group 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 Share capital At 1 January 2018 – – – – 988,083 988,083 Issuance of participating shares 20 – – – – 1,749 1,749 Redemption of participating shares 20 – – – – (1,453) (1,453) At 31 December 2018 – – – – 988,379 988,379 At 1 January 2017 – – – – 657,848 657,848 Issuance of participating shares 20 – – – – 331,122 331,122 Redemption of participating shares 20 – – – – (887) (887) At 31 December 2017 – – – – 988,083 988,083 Accumulated surplus At 1 January 2018 450,160 1,115,070 1,561 681,609 (356,040) 1,892,360 Net surplus / (deficit) for the year 11,630 24,613 (4,054) 21,563 100,662 154,414 Transfer of surplus (to) / from reserves for future distribution – 4,257 – – – 4,257 Transfer (to) / from reserves for future distribution – 9,322 – – – 9,322 Transfer to Shareholders’ Fund – (19,236) – (83,772) 103,008 – Transfer between Insurance Funds – (6,450) 6,450 – – – Dividends for 2017 paid 27 – – – – (52,563) (52,563) At 31 December 2018 461,790 1,127,576 3,957 619,400 (204,933) 2,007,790 At 1 January 2017 400,813 701,966 5,327 646,929 (77,654) 1,677,381 Net surplus / (deficit) for the year 49,347 194,683 (5,216) 91,759 20,277 350,850 Transfer of surplus (to) / from reserves for future distribution – (98,027) – – – (98,027) Transfer (to) / from reserves for future distribution – – – – – – Transfer to Shareholders’ Fund – (12,102) – (57,079) 69,181 – Transfer between Insurance Funds – 328,550 1,450 – (330,000) – Dividends for 2016 paid 27 – – – – (37,844) (37,844) At 31 December 2017 450,160 1,115,070 1,561 681,609 (356,040) 1,892,360 Fair value reserve At 1 January 2018 – 203 – 7,475 64,971 72,649 Comprehensive income for the year – 1,138 – 14,755 (48,156) (32,263) At 31 December 2018 – 1,341 – 22,230 16,815 40,386 At 1 January 2017 – – – (501) 27,689 27,188 Comprehensive income for the year – 203 – 7,976 37,282 45,461 At 31 December 2017 – 203 – 7,475 64,971 72,649 Consolidated Statement of Changes in Equity For the Financial Year Ended 31 December 2018 The accompanying notes form an integral part of the financial statements. 46 HAND IN HAND