NTUC Income AR 2019

Note The Group 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 Reserves for future distribution At 1 January 2019 – 500,142 – – – 500,142 Transfer of surplus (to) / from accumulated surplus – 22,188 – – – 22,188 Transfer (to) / from accumulated surplus – (372,090) – – – (372,090) At 31 December 2019 21 – 150,240 – – – 150,240 At 1 January 2018 – 513,721 – – – 513,721 Transfer of surplus (to) / from accumulated surplus – (4,257) – – – (4,257) Transfer to accumulated surplus – (9,322) – – – (9,322) At 31 December 2018 21 – 500,142 – – – 500,142 Treasury shares At 1 January 2019 – – – – (14,159) (14,159) At 31 December 2019 – – – – (14,159) (14,159) At 1 January 2018 – – – – (14,159) (14,159) At 31 December 2018 – – – – (14,159) (14,159) At 31 December 2019 530,197 1,794,567 4,148 634,888 885,844 3,849,644 At 31 December 2018 461,790 1,629,059 3,957 641,630 786,102 3,522,538 Equity of non-controlling interest At 1 January 2019 5,636 – – – – 5,636 Comprehensive income for the year 573 – – – – 573 At 31 December 2019 6,209 – – – – 6,209 At 1 January 2018 5,109 – – – – 5,109 Comprehensive income for the year 527 – – – – 527 At 31 December 2018 5,636 – – – – 5,636 Total at 31 December 2019 536,406 1,794,567 4,148 634,888 885,844 3,855,853 Total at 31 December 2018 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 CHANGES IN EQUITY FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 ANNUAL REPORT 2019 49