TABLE L11: LIFE INSURANCE: SELECTED INDICATORS OF SINGAPORE INSURANCE FUNDS FOR THE YEAR ENDED 31ST DECEMBER 1999 (PER CENT) ---------------------------------------------------------------------------------------------------------------------------------- NEW SUMS NEW ANNUAL INSURED PREMIUMS AS A AS A PERCENTAGE PERCENTAGE OF SUMS OF ANNUAL GROWTH RATE COMMISSION RATE EXPENSE RATE INSURED PREMIUMS OF BUSINESS --------------------- ---------------- IN FORCE IN FORCE IN FORCE INDIVIDUAL GROUP (see 3) AGENCY- AT AT ----------------- -------------- ------ RELATED MANAGEMENT NET RATE 2-YEAR BEGINNING BEGINNING SUMS ANNUAL FIRST EXPENSE EXPENSE OF PERSISTENCY COMPANY OF YEAR OF YEAR INSURED PREMIUMS YEAR RENEWAL RATE RATE RETURN RATE (see 1) (see 2) (see 4) (see 5) (see 6) (see 7) (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) ---------------------------------------------------------------------------------------------------------------------------------- DIRECT INSURERS =============== AIA 18.95 12.32 12.54 1.35 70.81 9.29 10.87 1.17 4.00 5.4 95.3 ASIA LIFE 32.13 13.02 27.86 8.24 69.77 6.12 12.34 0.95 11.49 4.8 83.2 AXA LIFE S'PORE - - - - 57.38 13.94 7.12 1.78 7.99 4.1 91.7 CHINA LIFE 0.00 0.00 -45.00 -45.03 - 0.00 - 0.00 378.54 15.4 - GREAT EASTERN LIFE 9.56 9.64 3.57 4.78 37.36 7.42 3.59 0.46 2.53 3.6 88.4 ICS 12.18 7.64 2.63 2.92 63.73 4.75 8.65 0.81 19.29 4.1 96.2 JOHN HANCOCK 24.64 16.18 15.32 7.82 64.73 12.09 - 3.76 9.02 2.8 86.8 KEPPEL 18.70 16.88 9.73 8.32 50.75 12.40 13.12 0.60 3.97 22.1 91.5 NTUC INCOME 12.86 9.80 10.12 5.79 60.49 3.37 3.49 0.02 3.58 3.9 91.7 OAC 17.31 17.82 3.41 11.03 78.45 4.25 9.65 1.28 7.37 5.3 89.9 OUB MANULIFE 15.73 20.34 7.19 13.33 68.92 6.99 27.06 2.67 9.92 3.3 87.0 PRUDENTIAL 19.77 15.30 14.03 9.52 66.54 11.94 4.97 1.04 3.81 3.2 90.6 TAI PING LIFE - - - - - - - - - -40.2 - UOB LIFE 17.79 25.09 13.26 13.57 4.75 0.11 6.43 0.54 5.44 3.4 99.6 REINSURERS ========== ALLIANZ AG - - - - - - - - - - - COLOGNE RE 28.91 13.88 95.99 -15.48 56.42 51.75 16.05 0.00 4.65 4.4 - ERC FRANKONA REASSURANCE 20.24 17.05 10.80 8.51 30.01 - 50.15 0.00 52.50 3.2 - GERLING GLOBAL RE 120.96 240.32 118.32 165.37 50.00 139.92 38.91 0.00 338.08 -0.9 - LE MANS RE - - - - - - - - - - - LINCOLN NATIONAL 3.34 3.25 0.48 -2.13 - 0.04 - 0.00 114.79 0.0 - MUNICH RE 15.40 32.92 9.45 27.03 25.25 19.01 22.05 11.60 2.15 1.9 - PARTNER RE - - - - 50.04 - - 0.00 3.89 0.4 - SCOR 404.52 294.96 178.50 120.02 21.93 9.90 0.02 0.00 10.37 1.7 - SWISS RE 17.62 57.12 29.15 30.46 90.52 -3.20 11.57 0.00 15.55 2.9 - ---------------------------------------------------------------------------------------------------------------------------------- Notes: 1 FIRST YEAR COMMISSION RATE = FIRST YEAR COMMISSIONS AS A PERCENTAGE OF FIRST YEAR PREMIUMS FOR THE YEAR. 2 RENEWAL COMMISSION RATE = RENEWAL COMMISSIONS AS A PERCENTAGE OF RENEWAL PREMIUMS FOR THE YEAR. 3 GROUP COMMISSION RATE = GROUP COMMISSIONS AS A PERCENTAGE OF GROUP PREMIUMS FOR THE YEAR. 4 AGENCY-RELATED EXPENSE RATE = AGENCY-RELATED EXPENSES AS A PERCENTAGE OF PREMIUM INCOME FOR THE YEAR. 5 MANAGEMENT EXPENSE RATE = MANAGEMENT EXPENSES AS A PERCENTAGE OF PREMIUM INCOME FOR THE YEAR. 6 NET RATE OF RETURN = 2I/(A + B - I) WHERE I = NET INTEREST, ETC EARNINGS FOR THE YEAR; A = BALANCE OF REVENUE ACCOUNTS PLUS RESERVE ACCOUNTS AS AT THE BEGINNING OF THE YEAR; B = BALANCE OF REVENUE ACCOUNTS PLUS RESERVE ACCOUNTS AS AT THE END OF THE YEAR; NO ADJUSTMENT HAS BEEN MADE IN RESPECT OF ANY PROFIT OR LOSS ON REALISATION OR REVALUATION OF ASSETS. 7 AVERAGE 2-YEAR PERSISTENCY RATE = PERCENTAGE OF PREMIUMS IN FORCE AT THE END OF ONE YEAR AFTER THE YEAR OF ISSUE.