Profit & Loss (PDF 22KB)
advertisement
APRA Seminar March/April 2008 LRF 310.1 Statement of Financial Performance Topic Area 2 - Profit & Loss Australian Business Number Institution Name ABC Friendly Society Reporting Period 30/06/2008 Scale Factor Reporting Consolidation Benefit Funds - Income Statements, Part i Part B Benefit Fund Name: BF1 BF1 Australian Business Overseas Business 207 37 Total Business Life Ins Operating Income BP1 Investment Income BP2 Less Direct Investment Expense BP3 Net Investment Income Revenue Component of Life Insurance Contract Contributions BP4 BP4A BP5 BP6 Revenue $ 220 11 Fees for Management Services Rendered Other Income (Detail in Note 1 on form B3) Total Net Income 1. Insurance Policy Revenue 209 1.1. Life Insurance Direct Premiums............................................................................ 219 1.2. Policy Conversions - inwards................................................................................ 244 - 116 1.3. Inwards Life Reinsurance Premium Revenue........................................................ - 0 1.4. Total Premiums from Non-Life Insurance Business............................................... 544 1.5. Outward Reinsurance Premiums Expense............................................................ (21) (4) (25) 1.6. Total insurance policy revenue, net of reinsurance......................................... 186 33 219 99 17 116 - 2. Fees for Management Services Rendered 2.1. Premium-Related Fees Revenue.......................................................................... 2.2. Non-Premium Related Fees.................................................................................. - 2.3. Fees reported as movement in Policy Liability (Net Movement in liability for Defd Fee Rev)........................................................... 2.4. Total fees for management services rendered.................................................. - 99 17 116 3.1.1. Cash holdings............................................................................................... 12 2 15 3.1.2. Investment Property...................................................................................... 26 5 30 3.1.3. Equity securities............................................................................................ 20 3 23 3.1.4. Debt securities.............................................................................................. 121 21 142 179 32 210 9 2 3. Investment Revenue 3.1. Investment Income (excluding capital gains or losses) from 3.1.5. Other investment assets............................................................................... 3.1.6. Total Investment Income (excluding capital gains or losses).................. - 3.2. Realised and Unrealised Capital Gains (or losses) from 3.2.1. Investment Property...................................................................................... 3.2.2. Equity securities............................................................................................ - 3.2.3. Debt securities.............................................................................................. 3.2.4. Other investment assets............................................................................... - 3.2.5. Total Realised and Unrealised Capital Gains (or losses)......................... 9 2 10 3.3. Total investment revenue................................................................................... 187 33 220 4. Other Revenue............................................................................................................ 5. Total Revenue............................................................................................................. Ongoing Management Fees Other Management Fees Claims Expense Change in Net Policy Liabilities 472 83 555 12 6. Insurance Policy Expense Other Expenses (Detail in Note 2 on form B4) Total Expenses Operating Surplus/(Deficit) BP13 Operating Profit/(Loss) before Tax BP14 Income Tax Expense BP15 Life Insurance Act Operating Profit/(Loss) after Tax 709 6.1. Death and Disability Claims................................................................................... 29 5 34 -201 6.2. Maturities.............................................................................................................. 109 19 128 0 6.3. Annuities............................................................................................................... 11 2 13 520 6.4. Surrenders and Terminations................................................................................ 401 71 472 6.5. Policy Conversions - outwards.............................................................................. 29 6 35 6.6. Other Claims......................................................................................................... 23 4 24 B1 27 6.7. Inwards Reinsurance Claims Expense (including current year bonus)................... - 8 6.8. Total Non-Life Policy Expense.............................................................................. - 16 6.9. Outward Reinsurance Claims Revenue................................................................. 6.10. Total insurance policy expense, net of reinsurance....................................... Page 1 of 2 - Expenses Less: Operating Expenses BP7 BP8 BP9 BP10 BP11 BP12 10 - - 602 107 709 APRA Seminar March/April 2008 7. Operating Expenses 7.1. Policy Acquisition - Commission and Other Incremental Expenses....................... Topic Area 2 - Profit & Loss 7.2. Policy Acquisition - Other Expenses...................................................................... 7.3. Policy Maintenance - Commission and Other Incremental Expenses.................... 2 0 2 7.4. Policy Maintenance - Other Expenses................................................................... 8 1 10 7.5. Investment Management Expenses...................................................................... 9 2 11 7.6. Acquisition Expenses reported as movement in Policy Liability (Net Movement in DAC).......................................................................................... - 7.7. Other Administration Expenses............................................................................. - 7.8. Interest Expense on Subordinated Debt................................................................ 7.9. Interest Expense on Other Borrowings.................................................................. - 7.10. Total Non-Life Operating Expenses..................................................................... 7.11. Total operating expenses................................................................................. - 20 3 23 (17) (3) (20) 8. Movement in Net Policy Liabilities 8.1. Increase/(Decrease) in Net Policy Liabilities.......................................................... 9. Adjustment to Movement in Net Policy Liabilities - Policy Revenue Part B Benefit Funds - Members' Details Benefit Fund Name Statement of Value of Benefit Entitlements BM1 Value of Policy Liabilities at the Beginning of the Period BM2 Contributions (Deposit Component) BM2A BM3 BM4 BM5 BM6 BM7 BM8 BM9 BM10 Transfer of business Distribution of Profit to Policyholders 9.1. Contractual Direct Premiums................................................................................ 393 69 462 BF1 9.2. Policy Conversions - inwards................................................................................ 92 16 109 Life Ins 9.3. Inwards Reinsurance Premium Revenue.............................................................. $ 9.4. Total Non-Life Insurance Premiums...................................................................... - 9.5. Outward Reinsurance Premiums Expense............................................................ (23) (4) (27) 435 9.6. Total policy revenue, net of reinsurance........................................................... 462 82 544 10.1. Death and Disability Claims................................................................................. 13 2 16 78 10.2. Maturities............................................................................................................ 50 9 59 219 10.3. Annuities............................................................................................................. 5 1 6 16 10.4. Surrenders and Terminations.............................................................................. 186 33 219 10.5. Policy Conversions - outwards............................................................................ 43 8 50 10.6. Other Claims....................................................................................................... 11 2 58 - Interim 10. Adjustment to Movement in Net Policy Liabilities - Policy Expense Policy Expense recognised as Withdrawal of Deposit or change in Policy Liability -201 - Maturities - Surrenders - Death Claims - Withdrawal Fees Value of Policy Liabilities at the End of the Period 3,210 End of period values : BM11 Total Number of Policies BM11A Number of Members BM12 Unit Price BM13 - 3,230 - Final Policy Liability Revaluation Less Withdrawal Components of Policy Revenue recognised as a Deposit or as a change in Policy Liability 10.7. Inwards Reinsurance Claims Expense (including current year bonus)................. - 0 10.8. Total Non-Life Policy Expense............................................................................. - 10.9. Outward Reinsurance Claims Revenue............................................................... - 10.10. Policy Acquisition - Commission and Other Incremental Expenses.................... - - Buy 10.11. Policy Acquisition - Other Expenses.................................................................. - Sell 10.12. Total policy expense, net of reinsurance....................................................... B8 13 0 11. Effective movement in Net Policy Liabilities........................................................... - 309 54 363 (171) (30) (201) 12. Change in Policy Owner Retained Profits 12.1. Increase/(Decrease) in Policy Owner Retained Profits........................................ 13. Other Expenses........................................................................................................ - 14. Total Expenses......................................................................................................... 451 80 531 15. Profit/(Loss) before Income Tax.............................................................................. 21 3 24 7 1 16. Tax 16.1. Income Tax Attributable to Profit/(Loss) - Shareholders...................................... 16.2. Income Tax Attributable to Profit/(Loss) - Policy Owners..................................... 16.3. Total Tax............................................................................................................ 7 1 8 17. Profit/(Loss) after Income Tax................................................................................. 14 2 16 18. Increase/(Decrease) in Unallocated Benefit Fund reserves................................... 14 2 16 19. Profit/(Loss) after Income Tax attributable to Shareholders.................................. Annual Return Reconciliations (Only complete for annual returns) 20. Reconciliation adjustments...................................................................................... 21. Operating Profit/(Loss) after Tax, per general purpose accounts - Profit & Loss Account.......................................... Page 2 of 2 8 -
