NTUC Income AR 2019

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 19. INSURANCE AND OTHER PAYABLES 2019 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 55,049 37,592 – 438 – 93,079 Insurance and reinsurance payables 28,922 29,597 2,343 27,689 – 88,551 Investments and other payables 1,105,748 16,470 53,524 12,885 29,319 1,217,946 Contribution to Singapore Labour Foundation – – – – 18,123 18,123 Contribution to Central Co-operative Fund – – – – 25 25 Interfund balances 1,829 30,526 402 101,799 – 134,556 1,191,548 114,185 56,269 142,811 47,467 1,552,280 To be settled within 12 months 1,148,975 109,644 56,269 142,811 47,467 1,505,166 To be settled after 12 months 42,573 4,541 – – – 47,114 1,191,548 114,185 56,269 142,811 47,467 1,552,280 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 At the reporting date, the carrying amounts of insurance and other payables approximate their fair value. 130 HERE FOR SURE