NTUC Income AR 2019

The Group 2018 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 10,381 – – – 178 10,559 Intangible assets 6 48,749 269 – – 7,688 56,706 Investment properties 7 1,921,194 – – – – 1,921,194 Investment in joint venture 9 107,075 – – – – 107,075 Investment in associated companies 10 407,393 – – – 251,933 659,326 Other financial assets 11 23,930,751 4,223,227 2,102,077 1,325,986 1,028,458 32,610,499 Loans 13 692,461 53 – – – 692,514 Derivative financial instruments 14 113,157 6,570 1,659 2,115 6,748 130,249 Reinsurers' share of insurance contract provisions 15 – – – 43,302 – 43,302 Insurance and other receivables 16 150,680 21,283 17,643 27,298 109,618 326,522 Cash and cash equivalents 17 423,331 96,708 53,913 41,515 29,087 644,554 Assets held for sale – – – – – – 27,805,172 4,348,110 2,175,292 1,440,216 1,433,710 37,202,500 LIABILITIES Insurance contract provisions 15 26,017,373 2,570,244 2,122,726 668,421 – 31,378,764 Investment contract liabilities 7,239 – – – – 7,239 Derivative financial instruments 14 62,718 1,714 1,567 29 1,523 67,551 Borrowings 18 417,291 – – – 599,435 1,016,726 Insurance and other payables 19 833,125 147,093 47,042 130,136 46,650 1,204,046 Liabilities held for sale – – – – – – 27,337,746 2,719,051 2,171,335 798,586 647,608 33,674,326 NET ASSETS 467,426 1,629,059 3,957 641,630 786,102 3,528,174 SHARE CAPITAL AND RESERVES Share capital 20 – – – – 988,379 988,379 Treasury shares – – – – (14,159) (14,159) Reserves for future distribution 21 – 500,142 – – – 500,142 Fair value reserve – 1,341 – 22,230 16,815 40,386 Accumulated deficit of Shareholders' Fund 29 – – – – (204,933) (204,933) Accumulated surplus of insurance funds – Life insurance par fund 28 461,790 – – – – 461,790 – Other Insurance Funds 29 – 1,127,576 3,957 619,400 – 1,750,933 461,790 1,629,059 3,957 641,630 786,102 3,522,538 Non-controlling interest 5,636 – – – – 5,636 Total equity 467,426 1,629,059 3,957 641,630 786,102 3,528,174 The accompanying notes form an integral part of the financial statements. CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2019 ANNUAL REPORT 2019 43