MAA Assurance's Annual Report 2005 - Zurich

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General Insurance Revenue Account For The Financial Year Ended 31 December 2004 Marine, Motor Motor Aviation Misce- Note Fire vehicles cycles & Transit llaneous Total RM'000 RM'000 RM'000 RM'000 RM'000 RM’000 Gross premium 58,972 184,016 34,603 13,376 73,786 364,753 Reinsurance (39,028) (25,368) (4,850) (10,405) (24,777) (104,428) Net premium 19,944 158,648 29,753 2,971 49,009 260,325 (Increase)/decrease in unearned premium reserves 10 (822) 25,300 3,530 300 (355) 27,953 Earned premium 19,122 183,948 33,283 3,271 48,654 288,278 Net claims incurred 23 (12,463) (125,505) (25,939) (1,690) (25,400) (190,997) Net commission 62 (15,364) (2,658) (159) (7,339) (25,458) Underwriting surplus before management expenses 6,721 43,079 4,686 1,422 15,915 71,823 Management expenses 18 (71,061) Underwriting surplus 762 Investment income 16(b) 22,370 Other operating expenses – net 17(b) (5,795) 31 Surplus transferred to Income Statement 17,337 The accompanying notes are an integral part of these financial statements.
Life Fund Balance Sheet As At 31 December <strong>2005</strong> Note <strong>2005</strong> 2004 RM'000 RM'000 ASSETS Property, plant and equipment 3(b) 31,674 36,443 Investments 4(b) 3,916,680 3,847,737 Loans 5 852,175 751,162 Tax recoverable 10,994 5,374 Deferred tax assets 6 11,095 1,806 Receivables 7(b) 161,297 89,031 Cash and bank balances 23,518 41,745 Investment-linked fund assets 24 296,049 236,936 TOTAL LIFE FUND ASSETS 5,303,482 5,010,234 LIABILITIES Provision for outstanding claims 8 12,336 14,103 Payables 9(b) 495,673 594,217 Current tax liabilities 149 5,786 Deferred tax liabilities 6 - 152 Provision for life agents’ retirement benefits 14 5,001 5,575 Investment-linked fund liabilities 24 9,648 6,645 TOTAL LIFE FUND LIABILITIES 522,807 626,478 32 LIFE POLICYHOLDERS’ FUND 11 4,780,675 4,383,756 TOTAL LIFE FUND LIABILITIES AND LIFE POLICYHOLDERS’ FUND 5,303,482 5,010,234 The accompanying notes are an integral part of these financial statements.
Page 2 and 3: 2 Financial Highlights 4 MAA Branch
Page 4 and 5: Financial 0 Highlights (continued)
Page 6 and 7: PERAK • No.23, 1st & 2nd Floor, J
Page 8 and 9: 3 4 5 Datuk Ramlan bin Abdul Rashid
Page 10 and 11: Corporate Information BOARD OF DIRE
Page 12 and 13: Chief Executive Officer’s Stateme
Page 14 and 15: Chief Executive Officer’s Stateme
Page 16 and 17: Appraisal Value On The Life Insuran
Page 18 and 19: Appraisal Value On The Life Insuran
Page 20 and 21: Directors’ Report The directors h
Page 22 and 23: Directors’ Report (continued) COR
Page 24 and 25: Directors’ Report (continued) COR
Page 26 and 27: Directors’ Report (continued) DIR
Page 28 and 29: Report Of The Auditors To The Membe
Page 30 and 31: Income Statement For The Financial
Page 34 and 35: Life Insurance Revenue Account For
Page 36 and 37: Cash Flow Statement For The Financi
Page 38 and 39: Notes To The Financial Statements -
Page 80 and 81: THIS PAGE HAS BEEN INTENTIONALLY LE

MAA Assurance's Annual Report 2005 - Zurich

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