Financial and Solvency Projection in Life Insurance Company
|
|
|
- Joanna Willa Burns
- 8 years ago
- Views:
Transcription
1 Financial and Solvency Projection in Life Insurance Company
2 Possible Role of Accountant in Financial and Solvency Projection in Life Insurance Company
3 Possible Role of Accountant in Financial and Solvency Projection in Life Insurance Company Assist CFO in general in financial and solvency projection exercises Organize and compile data needed for financial statement and solvency report constructions from Actuarial, Investment, and Management in financial and solvency projection exercises Construct and analyze financial statements (B/S, P/L, and Cash Flow), according to Indonesian GAAP (SAK), government regulation (SAP), and possibly IFRS/US GAAP Construct and analyze solvency ratio reports, according to government regulation, in solvency projection exercises Organize, compile and analyze other important/key performance indicators (KPIs) in financial projection exercises
4 Some Important Factors in Financial and Solvency Projection in Life Insurance Company
5 Some Important Factors in Financial and Solvency Projection in Life Insurance Company Has to be in line with company s business plan Company s business plan should be translated into a set of financial assumptions which would in turn represent basis for any financial and solvency projection Accountants should work together with actuaries in any financial and solvency projection exercise since accountants have the background and skills in organizing, consolidating, compiling, constructing and analyzing financial statements, and actuaries have the background and skills in implying and projecting future cash flows, assets and liabilities at micro/product/policy level Both the accountant and actuary would then work based on the set of financial assumptions derived from company s business plan
6 Systematic Description of Financial and Solvency Projection in Life Insurance Company
7 Systematic Description of Financial and Solvency Projection in Life Insurance Company INPUT PROCESS OUTPUT Financial Data Non-Financial Data Organize Data Compile Data Construct Report Analyze Report Reports
8 Systematic Description of Financial and Solvency Projection in Life Insurance Company 1. Outputs Financial Statements: Balance Sheet Profit and Loss Cash Flows Solvency Ratio Key Performance Indicators Accounting Principles: ( SAP ) Government Regulation ( SAK ) Indonesian GAAP IFRS/US GAAP Line of Business and Distribution Channel
9 Systematic Description of Financial and Solvency Projection in Life Insurance Company 2. Inputs Profit and Loss: Premium Income Reinsurance Premium Investment Income Claims and Benefits Reinsurance Claims Acquisition Cost Reinsurance Commission General Expenses Other Income/Expenses Income Tax
10 Systematic Description of Financial and Solvency Projection in Life Insurance Company 2. Inputs Balance Sheet: Invested Assets Non-Invested Assets: Cash and Banks Premium Receivable Reinsurance Receivable Accrued Investment Income Land and Building Hardware Other Fixed Assets Other Assets
11 Systematic Description of Financial and Solvency Projection in Life Insurance Company 2. Inputs Balance Sheet: Payables and Liabilities Technical Reserves Equity Non-Admitted Assets ( KPIs ) Non-Financial Data Number of new business policies Persistency Number of agents Number of branch offices
12 Systematic Description of Financial and Solvency Projection in Life Insurance Company 3. Process Identification of Set of Financial Assumptions (Based on Company s Business Plan): Future New Business Target and Growth Distribution Channel Product ( Product Business Mix (Relative to Distribution Channel and Future Persistency Future Mortality Future Expenses (General and Distribution, or Maintenance and Acquisition) Inflation Rate Asset Investment and Yield Rates Currency and Exchange Rates
13 Systematic Description of Financial and Solvency Projection in Life Insurance Company 3. Process Actuarial team processes the actuarial oriented assumption set up using spreadsheet and possibly actuarial software to produce the following aggregate data: Premium Incomes Claims and Benefit Expenses Commission and Other Distribution Expenses Reinsurance Cash Flows Technical Reserves ( Portfolios Mortality Costs/Costs of Insurance (on Unit-Linked ( Portfolios Allocated Premiums (on Unit-Linked ( GAAP Deferred Acquisition Costs (IFRS/US Etc.
14 Systematic Description of Financial and Solvency Projection in Life Insurance Company 3. Process Discuss and decide with actuarial team on format of output from actuarial team Discuss and decide with Investment team and CFO on the following indicators: Future Asset Allocations (e.g. Time Deposit, Government Bonds, ( etc Future Investment Yields ( A Rating Information for Solvency Asset Default (Schedule Develop and use investment template sheet to compute estimated future investment incomes for each asset type (including investment expenses such as final taxes, custodian fees, etc) in each fund Develop and use a file that links outputs from actuarial team and outputs from the investment template to produce reports
15 Systematic Description of Financial and Solvency Projection in Life Insurance Company 3. Process Data needed for solvency projection are as follow: Assumption on Non-Admitted Asset based on company s business plan and experience Schedule A: Assets Default Discuss with Investment Team Schedule B: Cash Flows Mismatch 4% of policyholder reserve Schedule C: Currency Mismatch Schedule D: Claims Experience From actuarial team Schedule E: Insufficient Premium From actuarial team Schedule F: Reinsurance Risk From actuarial team
16 Systematic Description of Financial and Solvency Projection in Life Insurance Company 3. Process Other important non-technical items: Future Capital Expenditures Future Other Receivables Future Prepayments and Other Assets Future Other Liabilities
17 Komposisi Kepemilikan Perusahaan Asuransi di Indonesia As. PNS & TNI/Polri As. Sosial & Jamsostek Reasuransi As. Kerugian As. Jiwa 0% 20% 40% 60% 80% 100% BUMN Swasta Nasional Joint Venture
18 Kontribusi Premi Jenis Asuransi di Indonesia Asuransi Sosial & Jamsostek 6% Asuransi PNS & TNI/Polri 10% Premi Murni Loading (Actual) Loading (Assumption) Asuransi Jiwa 38% Asuransi Kerugian 46% BUMN Swasta Nasional Joint Venture
19 Rekapitulasi Penggunaan Software Asuransi (tahun 2008) Jenis Software Life / Annuity Jenis Asuransi Health Property / Casualty Full Policy admin (quote-issue-service-billing-claims) Policy admin system (quote-issue-service only) Full Policyholder portals (include transaction capability) Policyholder portals (information only) Underwriting (expert system, requirement management, workbench) Actuarial/Pricing/Product Design Comprehensive claims solutions Focused claim solutions Sumber: Laporan Survey Celent Communication International 2009 (data diolah)
20 Komposisi Platform Sistem Informasi Industri Asuransi di Indonesia (2009) 2.10% 17.20% 18.40% 62.30% Stand Alone LAN Lain-lain Mini Computer
21 Durasi Penggunaan SI < 4tahun 11% 5 tahun 52% 7 tahun 3% 6 tahun 34%
22 Metode Pengembangan SI pembangunan dan pengembangan internal oleh staff IT (8%), outsourcing melalui perusahaan software house (19%) adopsi sistem informasi yang sudah digunakan oleh perusahaan lain yang sejenis (50.7%) sumber pengembangan lain (23.2%) 1. penghematan biaya dan waktu pembangunan serta pengembangan sistem 2. kurangnya tenaga ahli sistem informasi asuransi di organisasi tersebut 3. tingkat keberhasilan implementasi dan pelayanan sistem informasi terhadap organisasi sudah teruji
23 Jangka Waktu Implementasi SI 2 < , , , < 0, Premi & Polis Underwriting & Claim Jiwa & Kesehatan Property & Casuality
24 Thank You
Kansas City 2Life Insurance Company
Kansas City 2Life Insurance Company 2012 Second Quarter Report Includes our subsidiaries: Sunset Life Insurance Company of America Old American Insurance Company Sunset Financial Services, Inc. Post Office
SAVINGS PRODUCTS AND THE LIFE INSURANCE INDUSTRY IN CANADA
SAVINGS PRODUCTS AND THE LIFE INSURANCE INDUSTRY IN CANADA Carl Hiralal 25 November 2004 1 Topics OSFI s Role Canadian Industry Insurance Products in Canada Insurance versus Savings Segregated Funds Universal
GUIDELINES CONTINGENCY PLAN FOR INSURERS
GUIDELINES ON CONTINGENCY PLAN FOR INSURERS (Issued under section 7 (1) (a) of the Financial Services Act 2007 and section 130 of the Insurance Act 2005) February 2008 1 1. INTRODUCTION 1.1. The Insurance
Kansas City 1Life Insurance Company
Kansas City 1Life Insurance Company 2011 First Quarter Report Includes our subsidiaries: Sunset Life Insurance Company of America Old American Insurance Company Sunset Financial Services, Inc. Post Office
Guide to Financial Reporting In Irish Life & Permanent plc European Embedded Value and IFRS
Guide to Financial Reporting In Irish Life & Permanent plc European Embedded Value and IFRS This guide to financial reporting is designed to help investors and other users of our financial statements to
Starr Insurance & Reinsurance Limited and Subsidiaries
Starr Insurance & Reinsurance Limited and Subsidiaries Consolidated Financial Statements December 31,2014 and 2013 Table of Contents December 31, 2014 and 2013 Page Independent Auditors' Report 1 Consolidated
Friends Life Limited
Annual PRA Insurance Returns for the year ended 31 December 2014 IPRU(INS) Appendices 9.1, 9.3, 9.4, 9.4A, 9.6 Balance Sheet and Profit and Loss Account Contents Form 2 Statement of solvency - long-term
How To Become A Life Insurance Specialist
Institute of Actuaries of India Subject ST2 Life Insurance For 2015 Examinations Aim The aim of the Life Insurance Specialist Technical subject is to instil in successful candidates principles of actuarial
Financial supplement 2013. Zurich Insurance Group Annual Report 2013
Financial supplement 2013 Zurich Insurance Group Annual Report 2013 2 Contents Results for the Year ended December 31, 2013 Financial supplement (unaudited) Financial highlights (unaudited) Business operating
Kansas City 2Life Insurance Company
Kansas City 2Life Insurance Company 2011 Second Quarter Report Includes our subsidiaries: Sunset Life Insurance Company of America Old American Insurance Company Sunset Financial Services, Inc. Post Office
Preliminary Consolidated Financial Results for the Six Months Ended September 30, 2012 (Prepared in Accordance with Japanese GAAP)
November 1, 2012 Sony Financial Holdings Inc. Preliminary Consolidated Financial Results for the Six Months Ended September 30, 2012 (Prepared in Accordance with Japanese GAAP) Tokyo, November 1, 2012
INDUSTRIAL-ALLIANCE LIFE INSURANCE COMPANY. FIRST QUARTER 2000 Consolidated Financial Statements (Non audited)
INDUSTRIAL-ALLIANCE LIFE INSURANCE COMPANY FIRST QUARTER 2000 Consolidated Financial Statements (Non audited) March 31,2000 TABLE OF CONTENTS CONSOLIDATED INCOME 2 CONSOLIDATED CONTINUITY OF EQUITY 3 CONSOLIDATED
Partnership Life Assurance Company Limited
Partnership Life Assurance Company Limited Annual PRA Insurance Returns for the year ended 31 December 2013 IPRU(INS) Appendices 9.1, 9.3, 9.4, 9.6 Contents Balance Sheet and Profit and Loss Account Form
INTERIM REPORT 1Q/2010
SE SAMPO LIFE INSURANCE BALTIC INTERIM REPORT 1Q/2010 Business name: SE SAMPO LIFE INSURANCE BALTIC Commercial registry code: 10561490 Address: Viru väljak 2, 10111 Tallinn Telephone: 6812 300 Fax: 6812
ANNUAL RETURN: FORM 1 - FUND BALANCE SHEET
ANNUAL RETURN: FORM - FUND BALANCE SHEET 6 Life: SIF - Non-Participating Annex Row No. ASSETS Equity securities A Debt securities B Land and buildings C Loans D Cash and deposits 5 976,9 Other invested
The Independent Order of Foresters Year ended December 31, 2013. financial highlights
The Independent Order of Foresters Year ended December 31, financial highlights Our financial strength Financial highlights for the year ended December 31, (All amounts are in Canadian dollars, unless
MITSUI SUMITOMO INSURANCE COMPANY, LIMITED AND SUBSIDIARIES. CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006
CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006 2005 2006 ASSETS Investments - other than investments in affiliates: Securities available for sale: Fixed maturities, at fair value 3,043,851 3,193,503
GLOSSARY. A contract that provides for periodic payments to an annuitant for a specified period of time, often until the annuitant s death.
The glossary contains explanations of certain terms and definitions used in this prospectus in connection with the Group and its business. The terms and their meanings may not correspond to standard industry
Embedded Value 2014 Report
Embedded Value 2014 Report Manulife Financial Corporation Page 1 of 13 Background: Consistent with our objective of providing useful information to investors about our Company, and as noted in our 2014
Embedded Value Report
Embedded Value Report 2012 ACHMEA EMBEDDED VALUE REPORT 2012 Contents Management summary 3 Introduction 4 Embedded Value Results 5 Value Added by New Business 6 Analysis of Change 7 Sensitivities 9 Impact
MANDATUM LIFE INSURANCE BALTIC SE
MANDATUM LIFE INSURANCE BALTIC SE INTERIM REPORT 1-4Q/2011 Business name: MANDATUM LIFE INSURANCE BALTIC SE Commercial registry code: 10561490 Address: Viru väljak 2, 10111 Tallinn Telephone: 6812 300
Royal Scottish Assurance Plc
Registered office: 24/25 St Andrews Square, Edinburgh, EH2 1AF 31st December 2004 Annual FSA Insurance Returns for the year ended 31 December 2010 Returns under the Accounts and Statements Rules Index
Consolidated financial statements 2014. Zurich Insurance Group Annual Report 2014
Consolidated financial statements 2014 Annual Report 2014 2 Annual results 2014 Consolidated financial statements Contents Consolidated income statements 3 Consolidated statements of comprehensive income
AvivaSA Emeklilik ve Hayat Anonim Şirketi
BALANCE SHEET AS OF 30 SEPTEMBER 2015 ASSETS Audited I- CURRENT ASSETS Note 31 December 2014 A- Cash and Cash Equivalents 14 431.210.641 394.414.565 1- Cash 14 603 142 2- Cheques Received - - 3- Banks
Management information
Management Information Management information The same consolidation rules are applied for the management information as for the segment reports. This means that, in line with IFRS requirements, group-internal
Disclosure of European Embedded Value as of March 31, 2015
UNOFFICIAL TRANSLATION Although the Company pays close attention to provide English translation of the information disclosed in Japanese, the Japanese original prevails over its English translation in
AvivaSA Emeklilik ve Hayat Anonim Şirketi BALANCE SHEET AS OF 31 MARCH 2015 (Amounts expressed in Turkish Lira ( TL) unless otherwise stated).
BALANCE SHEET AS OF 31 MARCH 2015 ASSETS Audited I- CURRENT ASSETS Note 31 Mart 2015 31 Aralık 2014 A- Cash and Cash Equivalents 2.12, 14 410.052.299 394.414.565 1- Cash 14 799 142 2- Cheques Received
GE Financial Assurance Holdings, Inc. (Exact name of registrant as specified in its charter)
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K/A1 CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported)
NEW YORK LIFE INSURANCE COMPANY FINANCIAL STATEMENTS (STATUTORY BASIS) DECEMBER 31, 2014 and 2013
NEW YORK LIFE INSURANCE COMPANY FINANCIAL STATEMENTS (STATUTORY BASIS) DECEMBER 31, 2014 and 2013 Table of Contents Independent Auditor's Report 1 Statutory Statements of Financial Position 3 Statutory
GLOSSARY. A contract that provides for periodic payments to an annuitant for a specified period of time, often until the annuitant s death.
The glossary contains explanations of certain terms and definitions used in this prospectus in connection with us and our business. The terms and their meanings may not correspond to standard industry
ANNUAL RETURN: FORM 1 - FUND BALANCE SHEET
ANNUAL RETURN: FORM - FUND BALANCE SHEET R98G General: Singapore Insurance Fund Annex Row No. ASSETS Equity securities A Debt securities B Land and buildings C Loans D Cash and deposits 5,96,57 Other invested
AvivaSA Emeklilik ve Hayat Anonim Şirketi
BALANCE SHEET AS OF 31 DECEMBER 2015 ASSETS I- CURRENT ASSETS Notes 31 December 2015 31 December 2014 A- Cash and Cash Equivalents 14 447.814.449 394.414.565 1- Cash 14-142 2- Cheques Received 3- Banks
INSTITUTE AND FACULTY OF ACTUARIES EXAMINATION
INSTITUTE AND FACULTY OF ACTUARIES EXAMINATION 30 April 2015 (am) Subject SA2 Life Insurance Specialist Applications Time allowed: Three hours INSTRUCTIONS TO THE CANDIDATE 1. Enter all the candidate and
Financial Information Package for the Fourth Quarter 2004. As at December 31, 2004
Financial Information Package for the Fourth Quarter 2004 As at December 31, 2004 TABLE OF CONTENTS PAGE HIGHLIGHTS 1 PROFITABILITY 3 Profit (2003 restated) Return on common shareholders' equity (2003
Central Bank Survey. General Provisions
Summary Methodology Central Bank Survey, Credit Institutions Survey, Banking System Survey, Other Financial Institutions Survey, Financial Sector Survey Central Bank Survey, Credit Institutions Survey,
Legal & General Insurance Limited
Annual PRA Insurance Returns for the ended 31 December 2014 IPRU(INS) Appendices 9.1, 9.2, 9.5, 9.6 Balance Sheet and Profit and Loss Account Contents Form 1 Statement of solvency - general insurance
ANNUAL RETURN: FORM 1 - FUND BALANCE SHEET ZURICH INSURANCE COMPANY LTD (SINGAPORE BRANCH) 34,844,737 Land and buildings
ANNUAL RETURN: FORM - FUND BALANCE SHEET I86G General: Singapore Insurance Fund Annex Row No. ASSETS Equity securities A Debt securities B,8,77 Land and buildings C Loans D Cash and deposits 5,6,76 Other
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION (A wholly owned subsidiary of New York Life Insurance Company)
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION (A wholly owned subsidiary of New York Life Insurance Company) FINANCIAL STATEMENTS (STATUTORY BASIS) DECEMBER 31, 2011 and 2010 NEW YORK LIFE INSURANCE
ST ANDREW'S LIFE ASSURANCE PLC
Annual FSA Insurance Returns for the year ended 31 December 2008 Appendices 9.1, 9.3, 9.4, 9.6 Contents Appendix 9.1 Form 2 Statement of solvency - long-term insurance business 1 Form 3 Components of
Consolidated Interim Earnings Report
Consolidated Interim Earnings Report For the Six Months Ended 30th September, 2003 23th Octorber, 2003 Hitachi Capital Corporation These financial statements were prepared for the interim earnings release
(Unofficial Translation) Consolidated Summary Report under Japanese GAAP for the Nine Months Ended December 31, 2011 February 13, 2012
(Unofficial Translation) Consolidated Summary Report under Japanese GAAP for the Nine Months Ended December 31, 2011 February 13, 2012 Company Name: The Dai-ichi Life Insurance Company, Limited Stock exchange
Anadolu Hayat Emeklilik Anonim Şirketi Consolidated Balance Sheet As At 31 December 2015 (Currency: Turkish Lira (TRY))
Consolidated Balance Sheet As At ASSETS I- Current Assets A- Cash and Cash Equivalents 14 302,999,458 216,428,429 1- Cash 14 3,385 27,952 2- Cheques Received 3- Banks 14 145,598,543 87,301,020 4- Cheques
Milliman Long-Term Care Services. Industry-Leading Actuarial Services for Long-Term Care Insurance Products
Industry-Leading Actuarial Services for Long-Term Care Insurance Products A Long-Term Commitment to Long-Term Care Whether you re entering the long-term care (LTC) insurance market for the first time or
THE EQUITABLE LIFE ASSURANCE SOCIETY
THE EQUITABLE LIFE ASSURANCE SOCIETY Annual PRA Insurance Returns for the year ended 31 December 2013 Appendices 9.1, 9.3, 9.4, 9.4A & 9.6 from the Interim Prudential Sourcebook for Insurers Registered
Introduction. Coverage. Principle 1: Embedded Value (EV) is a measure of the consolidated value of shareholders interests in the covered business.
Introduction Principle 1: Embedded Value (EV) is a measure of the consolidated value of shareholders interests in the covered business. G1.1 The EV Methodology ( EVM ) described here is applied to the
SOA Annual Symposium Shanghai. November 5-6, 2012. Shanghai, China. Session 2a: Capital Market Drives Investment Strategy.
SOA Annual Symposium Shanghai November 5-6, 2012 Shanghai, China Session 2a: Capital Market Drives Investment Strategy Genghui Wu Capital Market Drives Investment Strategy Genghui Wu FSA, CFA, FRM, MAAA
Forward Looking Statements 2. Condensed Consolidated Financial Statements
Mutual of Omaha Insurance Company and Subsidiaries Executive Summary and Analysis of Financial Condition as of September 30, 2015 and December 31, 2014 and Results of Operations for the Nine Months Ended
Hamilton Life Assurance Company Limited
Hamilton Life Assurance Company Limited Registered office: 2 Rougier Street, York, YO90 1UU Annual FSA Insurance 31st December Returns 2004 for the ended 31 December 2009 FN 02 001 Returns under the Accounts
Draft for consultation as part of CP18/16, available at: www.bankofengland.co.uk/pra/pages/publications/cp/2016/cp1816.aspx
Draft for consultation as part of CP18/16, available at: www.bankofengland.co.uk/pra/pages/publications/cp/2016/cp1816.aspx Form 1 Statement of solvency general insurance business Global business/uk branch
Net Income From Kansas Life Insurance Company
Kansas City 4Life Insurance Company 2012 Fourth Quarter Report Includes our subsidiaries: Sunset Life Insurance Company of America Old American Insurance Company Sunset Financial Services, Inc. Post Office
Starr Insurance & Reinsurance Limited and Subsidiaries
Starr Insurance & Reinsurance Limited and Subsidiaries Financial Statements Table of Contents Page Independent Auditors Report 1 Financial Statements Consolidated Balance Sheet 2 Consolidated Statement
Disclosure of Market Consistent Embedded Value as at March 31, 2015
May 20, 2015 Sompo Japan Nipponkoa Himawari Life Insurance, Inc. Disclosure of Market Consistent Embedded Value as at March 31, 2015 Sompo Japan Nipponkoa Himawari Life Insurance, Inc. ( Himawari Life,
Allianz Malaysia Berhad (12428-W) Financial Results 4Q 2015. Analyst Briefing 29 February 2016
Allianz Malaysia Berhad (12428-W) Financial Results 4Q 2015 Analyst Briefing 29 February 2016 1 AMB Group Results Allianz Malaysia Berhad (12428-W) Resilient Growth Operating revenue Group operating revenue
American International Group, Inc.
Financial Supplement Fourth Quarter 2013 All financial information in this document is unaudited. This report should be read in conjunction with AIG s Annual Report on Form 10-K for the year ended December
The Standard Life Assurance Company 2006
The Standard Life Assurance Company 2006 Annual PRA Insurance Returns for the financial year ended 31 December 2014 Prepared in accordance with the Accounts and Statements Rules (Appendices 9.1, 9.3, 9.4
NN GROUP FINANCIAL SUPPLEMENT 4Q2014
NN GROUP FINANCIAL SUPPLEMENT 4Q2014 NN GROUP FINANCIAL SUPPLEMENT 4Q2014 INTRODUCTION The Financial Supplement includes quarterly financial trend data and is published on a quarterly basis. Rounding could
MANDATUM LIFE INSURANCE BALTIC SE
MANDATUM LIFE INSURANCE BALTIC SE INTERIM REPORT 1Q/2015 Business name: MANDATUM LIFE INSURANCE BALTIC SE Commercial registry code: 10561490 Address: Viru väljak 2, 10111 Tallinn Telephone: 6812 300 Fax:
Icelandic insurance companies Annual accounts Accounting year 2000
Icelandic insurance companies Annual accounts Accounting year 2000 FME (Financial Supervisory Authority) 14 August 2001 The Financial Supervisory Authority (FME) publishes the annual accounts of Icelandic
The Prudential Assurance Company Limited
The Prudential Assurance Company Limited Annual PRA Insurance Returns for the year ended 31 December 2015 IPRU(INS) Appendices 9.1, 9.2, 9.3, 9.4, 9.4A, 9.5, 9.6 Balance Sheet and Profit and Loss Account
Interim Management Statement for the period from 1 January 2012 to 17 May 2012
Chesnara plc Interim Management Statement Chesnara plc Interim Management Statement for the period from 1 January 2012 to 17 May 2012 18 May 2012 Increase in EEV to 312.7m (at ) from 294.5m (at year end),
LIFE INSURANCE RATING METHODOLOGY CREDIT RATING AGENCY OF
LIFE INSURANCE RATING METHODOLOGY CREDIT RATING AGENCY OF BANGLADESH LIMITED 1 CRAB S RATING PROCESS An independent and professional approach of the CRAB is designed to ensure reliable, consistent and
TIAA-CREF LIFE INSURANCE COMPANY
Audited Statutory Basis Financial Statements as of December 31, 2015 and 2014 and for the three years ended December 31, 2015 INDEX TO STATUTORY - BASIS FINANCIAL STATEMENTS Page Independent Auditor s
Statutory Basis Financial Statements. Superior Insurance Company. For the six months ended June 30, 2011 with Accountants Compilation Report
Statutory Basis Financial Statements Superior Insurance Company with Accountants Compilation Report Statutory Basis Financial Statements Contents Accountants Compilation Report...1 Compiled Financial Statements
Key performance indicators
The information included in the following sheets of this Excel file forms an integral part of the Aegon press release on the Q2 results 2013 as published on August 8, 2013. Cautionary note regarding non-ifrs
ANNEX I INDIVIDUAL PUBLIC FINANCIAL STATEMENTS OF CREDIT INSTITUTIONS
ANNEX I INDIVIDUAL PUBLIC FINANCIAL STATEMENTS OF CREDIT INSTITUTIONS ANNEX I.1 PUBLIC BALANCE SHEET ASSETS 1. Cash and balances with central banks 2. Financial assets held for trading 2.1. Loans and advances
Forward Looking Statements 2. Condensed Consolidated Financial Statements
Mutual of Omaha Insurance Company and Subsidiaries Executive Summary and Analysis of Financial Condition as of March 31, 2016 and December 31, 2015 and Results of Operations for the Three Months Ended
NEW YORK LIFE INSURANCE COMPANY FINANCIAL STATEMENTS. DECEMBER 31, 2013 and 2012
NEW YORK LIFE INSURANCE COMPANY FINANCIAL STATEMENTS (STATUTORY BASIS) DECEMBER 31, 2013 and 2012 Table of Contents Independent Auditor's Report 1 Statutory Statements of Financial Position 3 Statutory
MANDATUM LIFE INSURANCE BALTIC SE
MANDATUM LIFE INSURANCE BALTIC SE INTERIM REPORT 1-2Q/2015 Business name: MANDATUM LIFE INSURANCE BALTIC SE Commercial registry code: 10561490 Address: Viru väljak 2, 10111 Tallinn Telephone: 6812 300
Table of Contents. 1. Company description 1-1 1.1 Organization structure 1-1
Clal Insurance Enterprises Holdings Ltd Financial Statements As At September 30,, 2014 Board of Directors' Report..11 Condensed consolidated interim financial statements....21 Financial data from the consolidated
Kansas City 4Life Insurance Company
Kansas City 4Life Insurance Company 2009 Fourth Quarter Report Includes our subsidiaries: Sunset Life Insurance Company of America Old American Insurance Company Sunset Financial Services, Inc. Post Office
Standard Life Assurance Limited
Standard Life Assurance Limited Annual PRA Insurance Returns for the financial year ended 31 December 2014 Prepared in accordance with the Accounts and Statements Rules (Appendices 9.1, 9.3, 9.4, 9.4A
GN8: Additional Guidance on valuation of long-term insurance business
GN8: Additional Guidance on valuation of long-term insurance business Classification Practice Standard MEMBERS ARE REMINDED THAT THEY MUST ALWAYS COMPLY WITH THE PROFESSIONAL CONDUCT STANDARDS (PCS) AND
Aviva Insurance Limited
Annual FSA Insurance Returns for the ended st December (Appendices 9.1, 9.2, 9.5, 9.6) Produced using BestESP Services - UK Year ended st December Contents Page Appendix 9.1 Form 1 Statement of solvency
ANNUAL RETURN: FORM 1 - FUND BALANCE SHEET
ANNUAL RETURN: FORM - FUND BALANCE SHEET Life: SIF - Participating Annex Row No. ASSETS Equity securities A Debt securities B Land and buildings C Loans D Cash and deposits Other invested assets E 6 Investment
Forward Looking Statements 2. Condensed Consolidated Financial Statements
Mutual of Omaha Insurance Company and Subsidiaries Executive Summary and Analysis of Financial Condition as of March 31, 2015 and December 31, 2014 and Results of Operations for the Three Months Ended
MANDATUM LIFE INSURANCE BALTIC SE
MANDATUM LIFE INSURANCE BALTIC SE INTERIM REPORT 1Q/2012 Business name: MANDATUM LIFE INSURANCE BALTIC SE Commercial registry code: 10561490 Address: Viru väljak 2, 10111 Tallinn Telephone: 6812 300 Fax:
NN GROUP FINANCIAL SUPPLEMENT 1Q2016
NN GROUP FINANCIAL SUPPLEMENT 1Q2016 NN GROUP FINANCIAL SUPPLEMENT 1Q2016 INTRODUCTION The Financial Supplement includes quarterly financial trend data and is published on a quarterly basis. Figures are
SUMMARY INTERIM REPORT 1Q2015
1st QUARTER REPORT 2015 1 SUMMARY INTERIM REPORT 1Q2015 The result for Norwegian Hull Club (NHC) in the first quarter of 2015 is minus USD 9.3 million. Technical result of insurance operations is minus
Rating Methodology for Domestic Life Insurance Companies
Rating Methodology for Domestic Life Insurance Companies Introduction ICRA Lanka s Claim Paying Ability Ratings (CPRs) are opinions on the ability of life insurance companies to pay claims and policyholder
Filings: An original hardcopy CARF and other required documents must be filed along with an electronic copy of the completed CARF.
NORTH CAROLINA DEPARTMENT OF INSURANCE Form C-200 Captive Annual Report Form Instructions (All captive insurers except association captive insurers and risk retention groups) A. GENERAL INSTRUCTIONS This
MANDATUM LIFE INSURANCE BALTIC SE
MANDATUM LIFE INSURANCE BALTIC SE INTERIM REPORT 1-3Q/2010 Business name: MANDATUM LIFE INSURANCE BALTIC SE Commercial registry code: 10561490 Address: Viru väljak 2, 10111 Tallinn Telephone: 6812 300
PNB Life Insurance Inc. Risk Management Framework
1. Capital Management and Management of Insurance and Financial Risks Although life insurance companies are in the business of taking risks, the Company limits its risk exposure only to measurable and
2014 Head office: Ballam Road, Lytham St.Annes, FY8 4JZ Annual PRA Insurance Returns for the year ended 31 December 2014 IPRU(INS) Appendices 9.1, 9.2, 9.3, 9.4, 9.4A, 9.5, 9.6 Balance Sheet and Profit
Course 2A Life Insurance Syllabus
Course 2A Life Insurance Syllabus This course provides the student with the basics needed to operate in the Australian life insurance market - legislation, taxation, and market and product information.
MANDATUM LIFE INSURANCE BALTIC SE
MANDATUM LIFE INSURANCE BALTIC SE INTERIM REPORT 1-3Q/2014 Business name: MANDATUM LIFE INSURANCE BALTIC SE Commercial registry code: 10561490 Address: Viru väljak 2, 10111 Tallinn Telephone: 6812 300
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION (A wholly owned subsidiary of New York Life Insurance Company)
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION (A wholly owned subsidiary of New York Life Insurance Company) FINANCIAL STATEMENTS (STATUTORY BASIS) DECEMBER 31, 2010 and 2009 J pwc To the Board of Directors
Antigonish Farmers Mutual Insurance Company. Consolidated financial statements. December 31, 2014
Consolidated financial statements Contents Page Management s statement of responsibility for financial reporting 1 Independent auditor s report 2 Consolidated statement of financial position 3 Consolidated
Commercial Union Life Assurance Company Limited
Commercial Union Life Assurance Limited Registered office: St Helen s, 1 Undershaft, London, EC3P 3DQ Annual FSA Insurance Returns for the year ended 31st December 2002 Accounts and statements pursuant
ANNUAL RETURN: FORM 1 - FUND BALANCE SHEET. 112,711,604 Debt securities. 465,886,983 Land and buildings. 20,730,216 Cash and deposits
ANNUAL RETURN: FORM - FUND BALANCE SHEET Life: SIF - Participating Annex Row No. ASSETS Equity securities A,7,6 Debt securities B 6,886,98 Land and buildings C Loans D,7,6 Cash and deposits 9,8,88 Other
COACHMAN INSURANCE COMPANY. Annual Report 2013
COACHMAN INSURANCE COMPANY Annual Report 2013 RESPONSIBILITY FOR FINANCIAL STATEMENTS The financial statements are the responsibility of Management and have been prepared in conformity with International
Insurance (General Insurance Business Solvency) Rules 2007 (Consolidated version with amendments as at 31 December 2010)
The text below is an internet version of the rules issued by the Financial Services Commission under the Insurance Act 2005 and is for information purpose only. Whilst reasonable care has been taken to
American International Group, Inc. Financial Supplement Fourth Quarter 2005
Financial Supplement Fourth Quarter 2005 This report should be read in conjunction with AIG's Annual Report on Form 10-K for the year ended December 31, 2005 filed with the Securities and Exchange Commission.
Supplement No. 2 published with Extraordinary Gazette No. 129 dated 20 th December, 2012. THE INSURANCE LAW, 2010 (LAW 32 OF 2010)
CAYMAN ISLANDS Supplement No. 2 published with Extraordinary Gazette No. 129 dated 20 th December, 2012. THE INSURANCE LAW, 2010 (LAW 32 OF 2010) THE INSURANCE (CAPITAL AND SOLVENCY) (CLASS A INSURERS)
Actuarial Guidance Note 9: Best Estimate Assumptions
ACTUARIAL SOCIETY OF HONG KONG Actuarial Guidance Note 9: Best Estimate Assumptions 1. BACKGROUND AND PURPOSE 1.1 Best estimate assumptions are an essential and important component of actuarial work. The
Pricing exercise based on a collection of actuarial assumptions Assumptions generally divided into two sets
Whole Life Pricing Pricing exercise based on a collection of actuarial assumptions Assumptions generally divided into two sets Company specific: Mortality, Lapsation, Expenses, Dividends, etc. Prescription
Jackson National Life Global Funding U.S. $9,000,000,000
BASE PROSPECTUS SUPPLEMENT Jackson National Life Global Funding U.S. $9,000,000,000 GLOBAL DEBT ISSUANCE PROGRAM This supplement (this Base Prospectus Supplement ) is supplemental to and must be read in
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY INDEX TO FINANCIAL STATEMENTS
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY INDEX TO FINANCIAL STATEMENTS Statements of Financial Position - December 31, 2010 and 2009 B-1 Statements of Operations and Comprehensive Income Years ended
SIMPLIFIED CONSOLIDATED BALANCE SHEET PROFIT AND LOSS ACCOUNT
SIMPLIFIED CONSOLIDATED BALANCE SHEET PROFIT AND LOSS ACCOUNT SIMPLIFIED CONSOLIDATED BALANCE SHEET ASSETS in thousand euro Year 2002 A. SUBSCRIBED CAPITAL UNPAID 0 0 of which called-up capital ( 0 ) B.
Finansinspektionen s Regulatory Code
Finansinspektionen s Regulatory Code Publisher: Finansinspektionen, Sweden, www.fi.se ISSN 1102-7460 This document is furnished for informational purposes only and is not itself a legal document. Finansinspektionen
PricewaterhouseCoopers, Chartered Accountants, P.O. Box HM 1171, Hamilton HM EX, Bermuda T: +1 (441) 295 2000, F: +1 (441) 295 1242, pwc.
1 April 27, 2012 Report of Independent Auditors To the Shareholder of XL Re Ltd In our opinion, the accompanying consolidated balance sheets and the related consolidated statements of income, retained