annual return: form 1 - fund balance sheet

SCOTTISH ANNUITY & LIFE INSURANCE CO ( CAYMAN) LTDR977L

ANNUAL RETURN: FORM 1 - FUND BALANCE SHEET

Reporting Cycle:

Life: SIF - Non-Participating

122007

Description

ASSETS

Equity securities

Debt securities

Land and buildings

Loans

Cash and deposits

Other invested assets

Investment income due or accrued

Outstanding premiums and agents' balances

Deposits withheld by cedants

Reinsurance recoverables (on paid claims)

Income tax recoverables

Fixed assets

Inter-fund balances and intra group balances (due from)

Other assets

Total Assets (1 to 14)

LIABILITIES

Policy liabilities

Other liabilities:

Outstanding claims

Annuities due and unpaid

Reinsurance deposits

Amounts owing to insurers

Bank loans and overdrafts

Inter-fund balances and intra-group balances (due to)

Others

Total Liabilities (16 to 23)

SURPLUS (15 - 24)

Annex

1A

1B

1C

1D

1E

1F

1G

1H

1I

1J

1K

1L

1M

1N

RowNo.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Amount

0

0

0

0

1,315,965

0

0

0

0

0

6,250

0

0

64,960

1,387,175

0

0

0

0

131,145

0

121,789

0

252,934

1,134,241

12/06/2012 03:37 PM


ANNUAL RETURN: FORM 1 - FUND BALANCE SHEET

Reporting Cycle:

Life: OIF - Non-Participating

122007

Description

ASSETS

Equity securities

Debt securities

Land and buildings

Loans

Cash and deposits


Investment income due or accrued

Outstanding premiums and agents' balances

Deposits withheld by cedants

Reinsurance recoverables (on paid claims)

Income tax recoverables

Fixed assets

Inter-fund balances and intra group balances (due from)

Other assets

Total Assets (1 to 14)

LIABILITIES

Policy liabilities

Other liabilities:

Outstanding claims

Annuities due and unpaid

Reinsurance deposits

Amounts owing to insurers

Bank loans and overdrafts

Inter-fund balances and intra-group balances (due to)

Others

Total Liabilities (16 to 23)

SURPLUS (15 - 24)

Annex

1A

1B

1C

1D

1E

1F

1G

1H

1I

1J

1K

1L

1M

1N

RowNo.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Amount

0

0

0

0

11,846,012

0

13,523

487,207

0

0

143,019

415,527

121,789

1,767,657

14,794,734

128,040

0

0

0

199,833

0

4,342,967

1,327,537

5,998,377

8,796,357

12/06/2012 03:37 PM


Description

Equity securities other than collective investment schemes

Collective investment schemes

Total (1 to 2) = Row 1 of Form 1

Row No.

1

2

3

Listed

0

0

Unlisted

0

0

Amount

0

0

0

122007


Reporting Cycle:

ANNUAL RETURN: ANNEX 1A - INVESTMENT IN EQUITY SECURITIES

12/06/2012 03:37:43 PM


Description

Equity securities other than collective investment schemes

Collective investment schemes


Row No.

1

2

3

Listed

0

0

Unlisted

0

0

Amount

0

0

0

122007


Reporting Cycle:

ANNUAL RETURN: ANNEX 1A - INVESTMENT IN EQUITY SECURITIES

12/06/2012 03:37:43 PM


Description

Government debt securities

Qualifying debt securities

Other debt securities


Row No.

1

2

3

4

Amount

0

0

0

0

122007


Reporting Cycle:

ANNUAL RETURN: ANNEX 1B - INVESTMENT IN DEBT SECURITIES

12/06/2012 03:37:43 PM


122007

R977L

Reporting Cycle:

ANNUAL RETURN: ANNEX 1C - INVESTMENT IN LAND AND BUILDINGS

SCOTTISH ANNUITY & LIFE INSURANCE CO ( CAYMAN) LTD

Location and Descriptionof Land and Buildings Row No. Cost

LastRevaluation

Date

Last ReportedAmount

Changes fromLast Reported

AmountAmount

Total = Row 3 of Form 1 21 0

12/06/2012 03:37:59 PM


122007

R977L

Reporting Cycle:

ANNUAL RETURN: ANNEX 1C - INVESTMENT IN LAND AND BUILDINGS


Location and Descriptionof Land and Buildings Row No. Cost

LastRevaluation

Date

Last ReportedAmount

Changes fromLast Reported

AmountAmount


12/06/2012 03:37:59 PM


122007


Reporting Cycle:

ANNUAL RETURN: ANNEX 1D - INVESTMENT IN LOANS

Description

Policy loans

Mortgage loans

Other secured loans

Unsecured loans


Row No.

1

2

3

4

5

Amount Outstanding

0

0

0

0

Provision for DoubtfulLoans

0

0

0

0

Amount

0

0

0

0

0

12/06/2012 03:37:43 PM

Life: SIF - Non-Participating 2007 12Reporting Cycle:

R977L

ANNUAL RETURN: ANNEX 1E - BREAKDOWN OF OTHER INVESTED ASSETS


Description

Derivatives

Options:

(a) Call options

(b) Put options

(c) Swaptions

(d) Other options

Total investments in options (1 to 4)

Futures contracts:

(a) Currency futures contracts

(b) Interest rate futures contracts

(c) Other futures contracts

Total investments in futures contracts (6 to 8)

Forward contracts:

(a) Currency forward contracts

(b) Interest rate forward contracts

(c) Other forward contracts

Total investments in forward contracts (10 to 12)

Swaps:

(a) Interest rate swaps

(b) Currency swaps

(c) Other swaps

Total investments in swaps (14 to 16)

Other derivatives

Total investments in derivatives (5 + 9 + 13 + 17 + 18)

RowNo.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

NotionalPrincipalAmount

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Amount

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Other invested assets excluding derivatives

12/06/2012 03:37 PM

Total investments in other invested assets excludingderivatives 40 0


12/06/2012 03:37 PM

Life: OIF - Non-Participating 2007 12Reporting Cycle:

R977L

ANNUAL RETURN: ANNEX 1E - BREAKDOWN OF OTHER INVESTED ASSETS


Description

Derivatives

Options:

(a) Call options

(b) Put options

(c) Swaptions

(d) Other options

Total investments in options (1 to 4)

Futures contracts:

(a) Currency futures contracts

(b) Interest rate futures contracts

(c) Other futures contracts

Total investments in futures contracts (6 to 8)

Forward contracts:

(a) Currency forward contracts

(b) Interest rate forward contracts

(c) Other forward contracts

Total investments in forward contracts (10 to 12)

Swaps:

(a) Interest rate swaps

(b) Currency swaps

(c) Other swaps

Total investments in swaps (14 to 16)

Other derivatives

Total investments in derivatives (5 + 9 + 13 + 17 + 18)

RowNo.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

NotionalPrincipalAmount

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Amount

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Other invested assets excluding derivatives

12/06/2012 03:37 PM

Total investments in other invested assets excludingderivatives 40 0


12/06/2012 03:37 PM

2007 12Reporting Cycle:Life: SIF - Non-Participating


ANNUAL RETURN: ANNEX 1F(c) - AGEING OF OUTSTANDING PREMIUMS AND AGENTSBALANCES OF REINSURER

Description

Bad debts written off during the year

Ageing of outstanding premiums and agents' balances:

Outstanding period

Up to 6 months

Above 6 months but not exceeding 12 months


Above 24 months

Gross total (2 to 5)

Provision for doubtful debts

Total (6 - 7) = Row 8 of Form 1

RowNo.

1

2

3

4

5

6

7

8

Amount

0

0

0

0

0

0

0

0

Note: Outstanding period commences from the date premiums are accrued in the books of the reinsurer.

12/06/2012 03:37 PM

2007 12Reporting Cycle:Life: OIF - Non-Participating


ANNUAL RETURN: ANNEX 1F(c) - AGEING OF OUTSTANDING PREMIUMS AND AGENTSBALANCES OF REINSURER

Description

Bad debts written off during the year

Ageing of outstanding premiums and agents' balances:

Outstanding period

Up to 6 months



Above 24 months

Gross total (2 to 5)

Provision for doubtful debts


RowNo.

1

2

3

4

5

6

7

8

Amount

0

487,207

0

0

0

487,207

0

487,207

Note: Outstanding period commences from the date premiums are accrued in the books of the reinsurer.

12/06/2012 03:37 PM


122007


Reporting Cycle:

ANNUAL RETURN: ANNEX 1G - STATEMENT OF REINSURANCE RECOVERABLES

Description

Reinsurance recoveries on unpaid claims

Reinsurance recoverables written off during the year

Ageing of reinsurance recoverables (on paid claims):

Outstanding period

Up to 1 year

Above 1 year but not exceeding 2 years

Above 2 years

Total (3 to 5)

Provision for doubtful reinsurance recoverables


Row No.

1

2

3

4

5

6

7

8

Amount

0

0

0

0

0

0

0

0

12/06/2012 03:37 PM


122007


Reporting Cycle:

ANNUAL RETURN: ANNEX 1H - FIXED ASSETS

Description

Motor vehicles

Computer equipment

Other fixed assets


Row No.

1

2

3

4

Amount

0

0

0

0

12/06/2012 03:37 PM


122007


Reporting Cycle:

ANNUAL RETURN: ANNEX 1H - FIXED ASSETS

Description

Motor vehicles

Computer equipment

Other fixed assets


Row No.

1

2

3

4

Amount

0

120,213

295,314

415,527

12/06/2012 03:37 PM


122007


Reporting Cycle:

ANNUAL RETURN: ANNEX 1I - INTER-FUND BALANCES AND

Description

Balances due from head office / shareholders fund

Balances due from overseas branches / related corporations

Balances due from other insurance funds established andmaintained under the Act


Row No.

1

2

3

4

Amount

0

0

0

0

INTRA-GROUP BALANCES (DUE FROM)

12/06/2012 03:37 PM


122007


Reporting Cycle:

ANNUAL RETURN: ANNEX 1I - INTER-FUND BALANCES AND

Description

Balances due from head office / shareholders fund

Balances due from overseas branches / related corporations

Balances due from other insurance funds established andmaintained under the Act


Row No.

1

2

3

4

Amount

0

0

121,789

121,789

INTRA-GROUP BALANCES (DUE FROM)

12/06/2012 03:37 PM


Description Row No. Amount

Translation Loss 1 64,960

Total = Row 14 of Form 1 26 64,960

R977L SCOTTISH ANNUITY & LIFE INSURANCE CO ( CAYMAN) LTD

2007 12

ANNUAL RETURN: ANNEX 1J - BREAKDOWN OF OTHER ASSETS

Reporting Cycle:

12/06/2012 03:37 PM



Deferred Acquisition Cost 1 297,657

Prepayments& Deposits 2 440,458

GST Recoverable 3 31,141

Translation Loss 4 998,401

Total = Row 14 of Form 1 26 1,767,657


2007 12

ANNUAL RETURN: ANNEX 1J - BREAKDOWN OF OTHER ASSETS

Reporting Cycle:

12/06/2012 03:37 PM


122007


Reporting Cycle:

ANNUAL RETURN: ANNEX 1L - INTER-FUND BALANCES AND

Description

Balances due to head office / shareholders fund

Balances due to overseas branches / related corporations

Balances due to other insurance funds established andmaintained under the Act


Row No.

1

2

3

4

Amount

0

0

121,789

121,789

INTRA-GROUP BALANCES (DUE TO)

12/06/2012 03:37 PM


122007


Reporting Cycle:

ANNUAL RETURN: ANNEX 1L - INTER-FUND BALANCES AND

Description

Balances due to head office / shareholders fund

Balances due to overseas branches / related corporations

Balances due to other insurance funds established andmaintained under the Act


Row No.

1

2

3

4

Amount

3,050,935

1,292,032

0

4,342,967

INTRA-GROUP BALANCES (DUE TO)

12/06/2012 03:37 PM




Reporting Cycle: 122007


ANNUAL RETURN: ANNEX 1M - BREAKDOWN OF OTHERS

12/06/2012 03:37 PM



Provision for Tax Agent Fees 1 24,918

Provision for Actuary Fees 2 69,788

Provision for Bonus 3 561,085

Provision for Unutilised Leave 4 72,202

Provision for Marketing Costs 5 561,255

Other Accruals 6 38,289

Total = Row 23 of Form 1 26 1,327,537



ANNUAL RETURN: ANNEX 1M - BREAKDOWN OF OTHERS

12/06/2012 03:37 PM


122007


Reporting Cycle:

ANNUAL RETURN: ANNEX 1N - SURPLUS

Description

Surplus at beginning of period

Net income

Transfer (to) from head office / shareholders fund

Surplus at End of Period (1 to 3) = Row 25 of Form 1

Row No.

1

2

3

4

Amount

419,870

116,471

597,900

1,134,241

12/06/2012 03:37 PM


122007


Reporting Cycle:

ANNUAL RETURN: ANNEX 1N - SURPLUS

Description

Surplus at beginning of period

Net income

Transfer (to) from head office / shareholders fund

Surplus at End of Period (1 to 3) = Row 25 of Form 1

Row No.

1

2

3

4

Amount

9,165,535

-6,348,178

5,979,000

8,796,357

12/06/2012 03:37 PM


122007


Reporting Cycle:

ANNUAL RETURN: ANNEX 1(i) - INFORMATION IN RESPECT OF REDUCTION IN VALUE OF LIABILITIES

DUE TO REINSURANCE CEDED TO REINSURERS IN RESPECT OF LIFE BUSINESS

Description

Registered insurer

Authorised reinsurer / related corporation / head office/ branch of head office of the registered insurer

Unregistered reinsurer

Total (1 to 3)

Row No.

1

2

3

4

Participatingpolicies

0

0

0

0

Non-participatingpolicies

0

0

0

0

Investment-linkedpolicies

0

0

0

0

Amount

0

0

0

0

12/06/2012 03:37:43 PM


122007


Reporting Cycle:

ANNUAL RETURN: ANNEX 1(i) - INFORMATION IN RESPECT OF REDUCTION IN VALUE OF LIABILITIES

DUE TO REINSURANCE CEDED TO REINSURERS IN RESPECT OF LIFE BUSINESS

Description

Registered insurer

Authorised reinsurer / related corporation / head office/ branch of head office of the registered insurer


Total (1 to 3)

Row No.

1

2

3

4

Participatingpolicies

0

0

0

0

Non-participatingpolicies

0

0

697,312

697,312

Investment-linkedpolicies

0

0

0

0

Amount

0

0

697,312

697,312

12/06/2012 03:37:43 PM

Description of Assets and Name of Investee Company

Name of company: NIL

Equity securities

Debt securities

Secured loans

Unsecured loans


Row No.

1

2

3

4

5

No. of Units

0

0

0

0

0

Cost

0

0

0

0

0

Amount

0

0

0

0

0


A RELATED CORPORATION OF REGISTERED INSURER

ANNUAL RETURN: ANNEX 1(iii) - INFORMATION IN RESPECT OF INVESTMENTS IN

Reporting Cycle:

R977L

2007 12


12/06/2012 03:38:01 PM


R977L

ANNUAL RETURN: NOTES TO FORM 1



Note 1 The aggregate amounts of loans to and amounts due from - Amount

(a) Directors 0

(b) Employees of the registered insurer 0

Note 3 - Description of any change in accounting policies and methodologies in the valuation ofassets and liabilities and the quantification of their effects.

NIL

Note 4 - Description of any prior adjustment and correction for errors and reasons for theadjustments and corrections.

NIL

Note 5 In respect of financial guarantee business - Amount

(a) where premiums are payable in instalments, the present value of futureinstalment premiums payable by the insured in a future accounting period 0

and discount rate used 0

(b) where the premiums are payable in full at the commencement of the policy ofinsurance, the full amount of the premiums payable by the insured in the accountingperiod in which the policy commences.

0

12/06/2012 03:38 PM


R977L




Note 1 The aggregate amounts of loans to and amounts due from - Amount

(a) Directors 0

(b) Employees of the registered insurer 0

Note 3 - Description of any change in accounting policies and methodologies in the valuation ofassets and liabilities and the quantification of their effects.

NIL

Note 4 - Description of any prior adjustment and correction for errors and reasons for theadjustments and corrections.

NIL

Note 5 In respect of financial guarantee business - Amount

(a) where premiums are payable in instalments, the present value of futureinstalment premiums payable by the insured in a future accounting period 0

and discount rate used 0

(b) where the premiums are payable in full at the commencement of the policy ofinsurance, the full amount of the premiums payable by the insured in the accountingperiod in which the policy commences.

0

12/06/2012 03:38 PM



ANNUAL RETURN: FORM 1 - ADDITIONAL INFORMATION

NIL

12/06/2012 03:37 PM


ANNUAL RETURN: FORM 2 - FUND PROFIT AND LOSS ACCOUNT

Reporting Cycle: 12


Description

Gross premiums

Less: Outward reinsurance premiums

Investment revenue

Less: Investment expenses

Other income

Total Income (1 to 5)

Gross claims settled

Less: Reinsurance recoveries

Management expenses

Distribution expenses

Increase (decrease) in net policy liabilities

Provision for doubtful debts/ bad debts written off on receivables

Taxation expenses

Other expenses

Total Outgo (7 to 14)

Net Income (6 - 15)

Annex

2A

2B

2C

2D

2E

2F

2G

2H

2I

2J

RowNo.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

Amount

8,197

0

31,488

0

37,917

77,602

0

0

261,168

163,743

(473,143)

0

(783)

10,146

(38,869)

116,471

2007

12/06/2012 03:37 PM


ANNUAL RETURN: FORM 2 - FUND PROFIT AND LOSS ACCOUNT

Reporting Cycle: 12


Description

Gross premiums

Less: Outward reinsurance premiums

Investment revenue

Less: Investment expenses

Other income

Total Income (1 to 5)

Gross claims settled

Less: Reinsurance recoveries

Management expenses

Distribution expenses

Increase (decrease) in net policy liabilities

Provision for doubtful debts/ bad debts written off on receivables

Taxation expenses

Other expenses

Total Outgo (7 to 14)

Net Income (6 - 15)

Annex

2A

2B

2C

2D

2E

2F

2G

2H

2I

2J

RowNo.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

Amount

10,530,311

10,235,107

451,965

0

0

747,169

2,723,741

2,723,741

6,567,309

107,051

115,646

0

(64,733)

370,074

7,095,347

(6,348,178)

2007

12/06/2012 03:37 PM


122007Reporting Cycle:

ANNUAL RETURN: ANNEX 2A - PREMIUM REVENUE IN RESPECT


Description

Individual business:

Single premiums

Regular premiums - new business

Regular premiums - renewal business

Group business:

Premiums

Direct insurance premiums (1 to 4)

Inward reinsurance premiums


Row No.

1

2

3

4

5

6

7

Amount

0

0

0

0

0

8,197

8,197

OF LIFE BUSINESS

12/06/2012 03:38:04 PM



ANNUAL RETURN: ANNEX 2A - PREMIUM REVENUE IN RESPECT


Description


Single premiums

Regular premiums - new business

Regular premiums - renewal business

Group business:

Premiums

Direct insurance premiums (1 to 4)

Inward reinsurance premiums


Row No.

1

2

3

4

5

6

7

Amount

0

0

0

0

0

10,530,311

10,530,311

OF LIFE BUSINESS

12/06/2012 03:38:04 PM



ANNUAL RETURN: ANNEX 2B - OUTWARD REINSURANCE PREMIUMS


Description

Registered insurer / foreign insurer under the foreign insurerscheme

Authorised reinsurer / related corporation / head office / branch ofhead office of the registered insurer



Row No.

1

2

3

4

Amount

0

0

0

0

12/06/2012 03:38:04 PM



ANNUAL RETURN: ANNEX 2B - OUTWARD REINSURANCE PREMIUMS


Description

Registered insurer / foreign insurer under the foreign insurerscheme

Authorised reinsurer / related corporation / head office / branch ofhead office of the registered insurer



Row No.

1

2

3

4

Amount

0

0

10,235,107

10,235,107

12/06/2012 03:38:04 PM


Description

Equity securities

Debt securities

Land and Buildings

Loans

Cash and deposits



Row No.

1

2

3

4

5

6

7

Interest / Dividend /Rental Income

0

0

0

0

31,488

0

Realised Gains(Losses) From Last

Reported Value /Write-backs(Write-offs)

0

0

0

0

0

0

Unrealised ChangesFrom Last Reported

Value

0

0

0

0

0

0

Amount

0

0

0

0

31,488

0

31,488

122007


Reporting Cycle:

ANNUAL RETURN: Annex 2C - Investment Revenue

12/06/2012 03:37:48 PM


Description

Equity securities

Debt securities

Land and Buildings

Loans

Cash and deposits



Row No.

1

2

3

4

5

6

7

Interest / Dividend /Rental Income

0

0

0

0

451,965

0

Realised Gains(Losses) From Last

Reported Value /Write-backs(Write-offs)

0

0

0

0

0

0

Unrealised ChangesFrom Last Reported

Value

0

0

0

0

0

0

Amount

0

0

0

0

451,965

0

451,965

122007


Reporting Cycle:

ANNUAL RETURN: Annex 2C - Investment Revenue

12/06/2012 03:37:48 PM



ANNUAL RETURN: ANNEX 2D - BREAKDOWN OF OTHER INCOME



Foreign Exchange Gain 1 37,917


12/06/2012 03:38:08 PM



ANNUAL RETURN: ANNEX 2D - BREAKDOWN OF OTHER INCOME



Total = Row 5 of Form 2 26

12/06/2012 03:38:08 PM



ANNUAL RETURN: ANNEX 2F - MANAGEMENT EXPENSES


Description

Staff salaries & expenses

Office rent

Head office / parent company expenses

Directors' fees

Audit fees

Managing agent's fees

Repairs and maintenance

Public utilities

Printing, stationery and periodicals

Postage, telephone and telex charges

Computer charges

Hire of office equipment

Licence and association fees

Advertising and subscriptions

Entertainment

Travelling expenses

Row No.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

Amount

157,119

9,450

0

0

-2,218

0

1,069

219

330

4,287

1,383

0

1,649

3,933

765

0

General office expenses 1 168

Fixed assets expensed off 2 114

Bank charges 3 152

Tax, audit, legal, consulting, actuarial and corporate secretarial fees4 13,467

Non-recoverable GST 5 40

Management fee charged by Head office / related party 6 69,170

Miscellaneous 7 71


12/06/2012 03:38:11 PM



ANNUAL RETURN: ANNEX 2F - MANAGEMENT EXPENSES


Description

Staff salaries & expenses

Office rent

Head office / parent company expenses

Directors' fees

Audit fees

Managing agent's fees

Repairs and maintenance

Public utilities

Printing, stationery and periodicals

Postage, telephone and telex charges

Computer charges

Hire of office equipment

Licence and association fees

Advertising and subscriptions

Entertainment

Travelling expenses

Row No.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

Amount

3,911,400

449,061

0

0

-40,471

0

26,037

6,948

12,500

93,693

25,238

0

30,089

119,038

95,988

222,460

General office expenses 1 7,069

Fixed assets expensed off 2 3,191

Bank charges 3 6,457

Tax, audit, legal, consulting, actuarial and corporate secretarial fees4 430,459

Non-recoverable GST 5 -30,730

Management fee charged by Head office / related party 6 1,195,977

Miscellaneous 7 2,905

Total = Row 9 of Form 2 27 6,567,309

12/06/2012 03:38:11 PM



ANNUAL RETURN: ANNEX 2G - DISTRIBUTION EXPENSES IN RESPECT


Description


First period commissions - single premium

First period commissions - regular premium

Renewal commissions

Group business:

Commissions

Overriding commissions

Production and other bonuses

Trailer fees

Cost of benefits and services

Other cash payments

Total distribution cost excluding reinsurance commissions (1 to 9)

Reinsurance commissions


Row No.

1

2

3

4

5

6

7

8

9

10

11

12

Amount

0

0

0

0

0

0

0

0

0

0

-163,743

163,743

OF LIFE BUSINESS

12/06/2012 03:38:04 PM



ANNUAL RETURN: ANNEX 2G - DISTRIBUTION EXPENSES IN RESPECT


Description


First period commissions - single premium

First period commissions - regular premium

Renewal commissions

Group business:

Commissions

Overriding commissions

Production and other bonuses

Trailer fees

Cost of benefits and services

Other cash payments

Total distribution cost excluding reinsurance commissions (1 to 9)

Reinsurance commissions


Row No.

1

2

3

4

5

6

7

8

9

10

11

12

Amount

0

0

0

0

0

0

0

0

0

0

-107,051

107,051

OF LIFE BUSINESS

12/06/2012 03:38:04 PM



ANNUAL RETURN: ANNEX 2H - NET POLICY LIABILITIES IN RESPECT


Description

Net policy liabilities at end of period

Net policy liabilities at beginning of period

Increase (Decrease) in Net Policy Liabilities (1 - 2) = Row 11 of Form 2

Row No.

1

2

3

Amount

0

473,143

-473,143

OF LIFE BUSINESS

12/06/2012 03:38:04 PM



ANNUAL RETURN: ANNEX 2H - NET POLICY LIABILITIES IN RESPECT


Description

Net policy liabilities at end of period

Net policy liabilities at beginning of period

Increase (Decrease) in Net Policy Liabilities (1 - 2) = Row 11 of Form 2

Row No.

1

2

3

Amount

128,040

12,394

115,646

OF LIFE BUSINESS

12/06/2012 03:38:04 PM


ANNUAL RETURN: ANNEX 2I - BREAKDOWN OF OTHER EXPENSES

Reporting Cycle:

R977L

122007



Depreciation 1 10,146


12/06/2012 03:38:14 PM


ANNUAL RETURN: ANNEX 2I - BREAKDOWN OF OTHER EXPENSES

Reporting Cycle:

R977L

122007



Foreign Exchange Loss 1 64,424

Depreciation 2 305,650


12/06/2012 03:38:14 PM


Reporting Cycle: 2007 12


NIL

12/06/2012 03:37 PM

Life: Singapore Insurance Fund



ANNUAL RETURN: FORM 5 - STATEMENT IN RESPECT OF LIFE BUSINESS (INDIVIDUALAND GROUP) OF LIFE REINSURER

Description

A. New Business Life (Risk Premium) Life (Coinsurance) Accident and Health Disability Income Portfolio Cover Financial Reinsurance Other Reinsurance Total (1 to 7) Annuities only

B. Net Movements Life (Risk Premium) Claims Others Life (Coinsurance) Claims Others Accident and Health Claims Others Disability Income Claims Others Portfolio Cover Claims Others Financial Reinsurance Claims Others Other Reinsurance Claims Others Total (10 to 23) Annuities Only Claims OthersC. Business in Force Life (Risk Premium)

Life (Coinsurance) Accident and Health Disability Income Portfolio Cover Financial Reinsurance Other Reinsurance Total (27 to 33) Annuities only

Row No.

123456789

1011

1213

1415

1617

1819

2021

222324

2526

27

2829303132333435

Sum Insured

000000000

0107,803,530

00

00

00

00

00

00

107,803,530

00

0

00000000

Premiums -Single

000000000

00

00

00

00

00

00

000

00

0

00000000

Premiums -Regular

000000000

0525,243

00

00

00

00

00

00

525,243

00

0

00000000

12/06/2012 03:37 PM

Life: Offshore Insurance Fund



ANNUAL RETURN: FORM 5 - STATEMENT IN RESPECT OF LIFE BUSINESS (INDIVIDUALAND GROUP) OF LIFE REINSURER

Description

A. New Business Life (Risk Premium) Life (Coinsurance) Accident and Health Disability Income Portfolio Cover Financial Reinsurance Other Reinsurance Total (1 to 7) Annuities only

B. Net Movements Life (Risk Premium) Claims Others Life (Coinsurance) Claims Others Accident and Health Claims Others Disability Income Claims Others Portfolio Cover Claims Others Financial Reinsurance Claims Others Other Reinsurance Claims Others Total (10 to 23) Annuities Only Claims OthersC. Business in Force Life (Risk Premium)

Life (Coinsurance) Accident and Health Disability Income Portfolio Cover Financial Reinsurance Other Reinsurance Total (27 to 33) Annuities only

Row No.

123456789

1011

1213

1415

1617

1819

2021

222324

2526

27

2829303132333435

Sum Insured

215,132,189000000

215,132,1890

041,725,728

00

00

00

00

00

00

41,725,728

00

184,532,122

000000

184,532,1220

Premiums -Single

000000000

00

00

00

00

00

00

000

00

0

00000000

Premiums -Regular

486,659000000

486,6590

0138,109

00

00

00

00

00

00

138,109

00

434,836

000000

434,8360

12/06/2012 03:37 PM

FORM 2 - ADDITIONAL INFORMATION



NIL


12/06/2012 03:37 PM

ANNUAL RETURN: FORM 10 - STATEMENT OF FINANCIAL POSITION IN RESPECT OFGLOBAL BUSINESS OPERATIONS

12Reporting Cycle: 2007


Description

Life Business

1. Policy liabilities

General Business

1. Net premiums written

2. Premium liabilities

3. Claim liabilities

Shareholders fund

1. Paid-up capital

2. Unappropriated profits (losses)

3. Reserves - Capital

General

Others*

Total (5 to 9)

Row No.

1

2

3

4

5

6

7

8

9

10

Amount

'000 (in foreign currency)

UNITED STATES DOLLAR

6,492,183

0

0

0

1,529,286

-827,369

0

0

0

701,917

12/06/2012 03:38 PM

Reporting Cycle:


Note 1 Breakdown of "Others" Row No. Amount

Total

12/06/2012 03:38 PM



NIL


12/06/2012 03:38 PM

Life: Singapore Insurance Fund

Description

Life (Risk Premium)

Life (Coinsurance)

Accident and Health

Disability Income

Portfolio Cover

Financial Reinsurance

Other Reinsurance

Annuity Only

Total (1 to 8)

RowNo.

1

2

3

4

5

6

7

8

9

Particulars ofthe PoliciesValuation

Sum Insured

0

0

0

0

0

0

0

0

0


OfficePremuims

0

0

0

0

0

0

0

0

0

Present ValueStatistics

Benefits

0

0

0

0

0

0

0

0

0


Expenses

0

0

0

0

0

0

0

0

0


Premiums

0

0

0

0

0

0

0

0

0


PAD

0

0

0

0

0

0

0

0

0


NegatveReserves

0

0

0

0

0

0

0

0

0


Total

0

0

0

0

0

0

0

0

0

R977L


ANNUAL RETURN: FORM 15 - ABSTRACT OF VALUATION RESULTS OF LIFE BUSINESS OF LIFE REINSURER


Policy Liabilities of Insurance Fund

Life: Offshore Insurance Fund

Description

Life (Risk Premium)

Life (Coinsurance)

Accident and Health

Disability Income

Portfolio Cover

Financial Reinsurance

Other Reinsurance

Annuity Only

Total (1 to 8)

RowNo.

1

2

3

4

5

6

7

8

9


Sum Insured

184,532,122

0

0

0

0

0

0

0

184,532,122


OfficePremuims

434,836

0

0

0

0

0

0

0

434,836


Benefits

146,574

0

0

0

0

0

0

0

146,574


Expenses

470,279

0

0

0

0

0

0

0

470,279


Premiums

665,739

0

0

0

0

0

0

0

665,739


PAD

176,926

0

0

0

0

0

0

0

176,926


NegatveReserves

0

0

0

0

0

0

0

0

0


Total

128,040

0

0

0

0

0

0

0

128,040

R977L


ANNUAL RETURN: FORM 15 - ABSTRACT OF VALUATION RESULTS OF LIFE BUSINESS OF LIFE REINSURER


Policy Liabilities of Insurance Fund



NIL


12/06/2012 03:38 PM


Description Row No. From 01/01/2007 to 31/12/2007

Sources of net income arising in the year:

New Business

Mortality/Morbidity

Forfeiture/Surrender

Interest

Expense

Change in basis

Miscellaneous

Total (1 to 7)

1

2

3

4

5

6

7

8

Actual

0

0

0

69,405

-434,274

0

481,340

Expected

-473,143

0

2,132

-11,998

483,009

Actual LessExpected

0

473,143

0

67,273

-422,276

0

-1,669

116,471

R977L


ANNUAL RETURN: FORM 16 - STATEMENT OF ANALYSIS OF EXPERIENCE OF INSURANCE FUND INRESPECT OF LIFE BUSINESS


12/06/2012 03:38 PM


Description Row No. From 01/01/2007 to 31/12/2007

Sources of net income arising in the year:

New Business

Mortality/Morbidity

Forfeiture/Surrender

Interest

Expense

Change in basis

Miscellaneous

Total (1 to 7)

1

2

3

4

5

6

7

8

Actual

161,781

0

0

451,965

-6,979,701

0

17,777

Expected

-2,701

0

24

-643

3,320

Actual LessExpected

161,781

2,701

0

451,941

-6,979,058

0

14,457

-6,348,178

R977L


ANNUAL RETURN: FORM 16 - STATEMENT OF ANALYSIS OF EXPERIENCE OF INSURANCE FUND INRESPECT OF LIFE BUSINESS


12/06/2012 03:38 PM



NIL


12/06/2012 03:38 PM

ANNUAL RETURN: FORM 17 - ACTUARY'S CERTIFICATE ON POLICY LIABILITIES INRESPECT OF LIFE BUSINESS



Description

Participating Fund

Non-Participating Fund

Investment-Linked Fund

Singapore Insurance Fund

0

0

0

Offshore Insurance Fund

0

128,040

0

*Qualifications (if non, state "none"):None

I have conducted an investigation into the valuation of policy liabilities relating to life business asrequired under section 37 of the Insurance Act and confirm that the valuation is in accordance withall applicable requirements stipulated under the Act and directions issued under the Act, subject tothe qualifications stated below*. I certify these amounts as follows:

ACTUARIAL INVESTIGATION OF POLICY LIABILITIES

12/06/2012 03:38 PM



NIL


12/06/2012 03:38 PM


ANNUAL RETURN: FORM 21 - STATEMENT IN RELATION TO FUND SOLVENCY REQUIREMENT OFINSURANCE FUND

Reporting Cycle:

Description

(i) Financial Resources of Insurance Fund

Balance in the surplus account (of participating fund)

Add:

Allowance for provision for non-guaranteed benefits

(of participating fund): (lower of 3 or 4)

Policy liabilities - minimum condition liability

50% of aggregate of provisions for non-guaranteed benefits and PAD

Surplus of insurance fund (of any other insurance fund)

Less:

Reinsurance adjustment

Financial resource adjustment: (8 to 12)

(a) loans to, guarantees granted for, and other

unsecured amounts owed to the registered insurer

(b) charged assets

(c) deferred tax assets

(d) intangible assets

(e) other financial resource adjustments

Financial Resources of Insurance Fund

(1 + 2 + 5 - 6 - 7)

(ii) Total Risk Requirement of Insurance Fund

A. Component 1 Requirement - Insurance Risks

Life Insurance Risk Requirement

(for participating fund): (15 + 18)

(a) Policy Liability Risk Requirement:

(zero or 16 - 17, whichever is higher)

Modified minimum condition liability

Minimum condition liability

(b) Surrender Value Condition Risk Requirement:


Aggregate of surrender values of policies of the insurance fund

Higher of 21 or 22:

Sum of total risk requirement and minimum condition

liability of the insurance fund

Policy liabilities of the insurance fund


(other than participating fund) (24 + 27)



Modified policy liabilities

Policy Liabilities




Sum of total risk requirement and policy liabilities of the insurance fund

General Insurance Risk Requirement

(for general business): (31 to 32)

(a) Premium liability risk requirement

(b) Claim liability risk requirement

Total C1 Requirement (14 + 23 + 30)

B. Component 2 Requirement - Investment Risks and Risks arising

from Interest Rate Sensitivity and Foreign Currency Mismatch

between Asset and Liabilities

Equity Investment Risk Requirement (35 to 36)

(a) Specific Risk Requirement

Row No.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

32

33

34

35

Amount

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

35,038

0

0

0

0

0

1,134,241

0

0

1,134,241

0

0

0

0

0

2007 12


12/06/2012 03:37:37 PM

(b) General Risk Requirement

Debt Investment and Duration Mismatch Risk Requirement:

(38 or 43, whichever is higher)

(a) Sum of: (39 + 42)

Debt investment risk requirement in an increasing interest rate

environment (40 to 41)

Debt specific risk requirement

Debt general risk requirement

Liability adjustment requirement in an increasing interest rate environment

(b) Sum of: (44 + 47)

Debt investment risk requirement in a decreasing interest rate



Negative of debt general risk requirement

Liability adjustment requirement in a decreasing interest rate environment

Loan Investment Risk Requirement

Property Risk Requirement

Foreign Currency Mismatch Risk Requirement (for Singapore Insurance Fund)

Derivative Counterparty Risk Requirement

Miscellaneous Risk Requirement

Total C2 Requirement (34 + 37 + 48 + 49 + 50 + 51 + 52)

C. Component 3 Requirement - Concentration Risks Counterparty Exposure Equity Securities Exposure Unsecured Loans Exposure Property Exposure Foreign Currency Risk Exposure Exposure to assets in miscellaneous risk requirements

Exposure to non-liquid assets with Singapore Insurance Fund

(for general business)

Total C3 Requirement (54 to 60)

Total Risk Requirement of Insurance Fund (33 + 53 +61)

36

37

38

39

40

41

42

43

44

45

46

47

48

49

50

51

52

53

545556575859

60

61

62

0

0

0

0

0

0

0

0

0

0

0

0

0

0

26,051

0

8,987

35,038

000000

0

0

35,038

12/06/2012 03:37:37 PM


ANNUAL RETURN: FORM 21 - STATEMENT IN RELATION TO FUND SOLVENCY REQUIREMENT OFINSURANCE FUND

Reporting Cycle:

Description

(i) Financial Resources of Insurance Fund

Balance in the surplus account (of participating fund)

Add:

Allowance for provision for non-guaranteed benefits

(of participating fund): (lower of 3 or 4)

Policy liabilities - minimum condition liability

50% of aggregate of provisions for non-guaranteed benefits and PAD

Surplus of insurance fund (of any other insurance fund)

Less:



(a) loans to, guarantees granted for, and other

unsecured amounts owed to the registered insurer

(b) charged assets




Financial Resources of Insurance Fund

(1 + 2 + 5 - 6 - 7)

(ii) Total Risk Requirement of Insurance Fund

A. Component 1 Requirement - Insurance Risks


(for participating fund): (15 + 18)



Modified minimum condition liability

Minimum condition liability




Higher of 21 or 22:

Sum of total risk requirement and minimum condition

liability of the insurance fund

Policy liabilities of the insurance fund


(other than participating fund) (24 + 27)



Modified policy liabilities

Policy Liabilities




Sum of total risk requirement and policy liabilities of the insurance fund

General Insurance Risk Requirement

(for general business): (31 to 32)

(a) Premium liability risk requirement

(b) Claim liability risk requirement

Total C1 Requirement (14 + 23 + 30)

B. Component 2 Requirement - Investment Risks and Risks arising

from Interest Rate Sensitivity and Foreign Currency Mismatch

between Asset and Liabilities

Equity Investment Risk Requirement (35 to 36)

(a) Specific Risk Requirement

(b) General Risk Requirement

Debt Investment and Duration Mismatch Risk Requirement:

Row No.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

32

33

34

35

36

Amount

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

8,796,357

697,312

0

8,099,045

0

0

0

0

0

2007 12


12/06/2012 03:37:37 PM

(38 or 43, whichever is higher)

(a) Sum of: (39 + 42)

Debt investment risk requirement in an increasing interest rate



Debt general risk requirement

Liability adjustment requirement in an increasing interest rate environment

(b) Sum of: (44 + 47)

Debt investment risk requirement in a decreasing interest rate



Negative of debt general risk requirement

Liability adjustment requirement in a decreasing interest rate environment

Loan Investment Risk Requirement

Property Risk Requirement

Foreign Currency Mismatch Risk Requirement (for Singapore Insurance Fund)

Derivative Counterparty Risk Requirement

Miscellaneous Risk Requirement

Total C2 Requirement (34 + 37 + 48 + 49 + 50 + 51 + 52)

C. Component 3 Requirement - Concentration Risks Counterparty Exposure Equity Securities Exposure Unsecured Loans Exposure Property Exposure Foreign Currency Risk Exposure Exposure to assets in miscellaneous risk requirements

Exposure to non-liquid assets with Singapore Insurance Fund

(for general business)

Total C3 Requirement (54 to 60)

Total Risk Requirement of Insurance Fund (33 + 53 +61)

37

38

39

40

41

42

43

44

45

46

47

48

49

50

51

52

53

545556575859

60

61

62

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

000000

0

0

0

12/06/2012 03:37:37 PM




NIL

12/06/2012 03:37:37 PM

FORM 23 - STATEMENT IN RELATION TO CAPITAL ADEQUACY REQUIREMENT OF REGISTERED INSURER

ANNUAL RETURN



Description

(i) Financial Resources of Registered Insurer

A. Tier 1 Resource

Aggregate of surpluses of all insurance funds other than a participating fund

Balances in the surplus account of each participating fund

Paid-up ordinary share capital

Unappropriated profits (losses)

Surpluses of Overseas Branch Operations

Irredeemable and non-cumulative preference shares

Any other capital instrument approved by the Authority as a Tier 1 resource

Less:



(a) loans to, guarantees granted for and other unsecured amounts owed to

the registered insurer

(b) charged assets




Total Tier 1 Resource (1 to 7 less 8 to 9)

B. Tier 2 Resource

Irredeemable and non-cumulative preference shares not recognised

as Tier 1 resource

Irredeemable and non-cumulative preference shares

Other Tier 2 resource

Total Tier 2 Resource (16 to 18)

C. Aggregate of allowance for provisions for non-guaranteed benefits

of participating funds

Financial Resources of Registered Insurer (higher of $5m or 15 + 19 +20)

(ii) Total Risk Requirement of Registered Insurer

(a) Total risk requirements of insurance funds established or maintained

under the Act

(b) Total risk requirements of assets and liabilities that do not belong to any

insurance fund established and maintained under the Act

Total Risk Requirement of Registered Insurer (22 to 23)

CAPITAL ADEQUACY RATIO (21/24)

Row No.

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Amount

0

0

0

0

0

35,038

0

9,930,598

0

0

0

0

0

0

697,312

0

9,233,286

0

0

0

0

0

9,233,286

35,038

26352.21 %

R977L

12/06/2012 03:37:40 PM

2007 12Reporting Cycle:

NIL



12/06/2012 03:37:40 PM

annual return: form 1 - fund balance sheet

Documents