HSBC 2012 Annual Report Download - page 238

HSBC HOLDINGS PLC
Report of the Directors: Operating and Financial Review (continued)
Risk > Risk management of insurance operations > Balance sheet of insurance manufacturing subsidiaries
236
Balance sheet of insurance manufacturing subsidiaries by type of contract
(Audited)
Insurance contracts Investment contracts
With
DPF
Unit-
linked
Annu-
ities
Term
assur-
ance61 Non-life
With
DPF59
Unit-
linked Other
Other
assets62 Total
US$m US$m US$m US$m US$m US$m US$m US$m US$m US$m
At 31 December 2012
Financial assets .................. 24,288 12,619 1,785 4,350 356 23,620 8,780 4,315 4,692 84,805
– trading assets ................ – – 4– –– – – – 4
– financial assets
designated at fair value . 2,333 12,440 571 756 196 6,043 8,206 1,486 987 33,018
– derivatives .................... 40 4 –6 –117 13 86 69 335
– financial investments ... 18,283 – 932 3,315 73 16,022 – 1,853 2,928 43,406
– other financial assets .... 3,632 175 278 273 87 1,438 561 890 708 8,042
Reinsurance assets ............. 124 593 494 320 14 – – – 22 1,567
PVIF63 ................................ – – – – – – – – 4,847 4,847
Other assets and
investment properties ...... 448 7 34 110 11 754 24 28 2,420 3,836
Total assets ......................... 24,860 13,219 2,313 4,780 381 24,374 8,804 4,343 11,981 95,055
Liabilities under investment
contracts:
– designated at fair value – – – – – – 8,691 3,765 – 12,456
– carried at amortised cost – – – – – – – 455 – 455
Liabilities under
insurance contracts .......... 24,477 13,056 2,287 3,920 81 24,374 – – – 68,195
Deferred tax ....................... 13 – 13 12 1 – – – 1,161 1,200
Other liabilities .................. – – – – – – – – 2,760 2,760
Total liabilities ................... 24,490 13,056 2,300 3,932 82 24,374 8,691 4,220 3,921 85,066
Total equity ........................ – – – – – – – – 9,989 9,989
Total equity and
liabilities64 ...................... 24,490 13,056 2,300 3,932 82 24,374 8,691 4,220 13,910 95,055
At 31 December 2011
Financial assets .................. 20,520 10,355 2,531 3,398 1,656 20,745 7,843 4,103 7,219 78,370
– trading assets ................ – – 3 – 24 – – – – 27
– financial assets
designated at fair value . 1,730 10,101 426 594 206 5,491 7,191 1,515 1,616 28,870
– derivatives .................... 23 1 – – – 231 7 89 7 358
– financial investments ... 15,523 1 1,778 2,540 791 13,732 – 1,913 4,008 40,286
– other financial assets .... 3,244 252 324 264 635 1,291 645 586 1,588 8,829
Reinsurance assets ............. 12 903 441 196 250 – – – 42 1,844
PVIF63 ................................ – – – – – – – – 4,092 4,092
Other assets and
investment properties ...... 384 6 14 188 169 744 28 34 753 2,320
Total assets ......................... 20,916 11,264 2,986 3,782 2,075 21,489 7,871 4,137 12,106 86,626
Liabilities under investment
contracts:
– designated at fair value – – – – – – 7,813 3,586 – 11,399
– carried at amortised cost – – – – – – – 435 – 435
Liabilities under
insurance contracts .......... 20,782 11,210 2,882 3,262 1,635 21,488 – – – 61,259
Deferred tax ....................... 15 – 21 6 1 – – – 931 974
Other liabilities .................. – – – – – – – – 1,930 1,930
Total liabilities ................... 20,797 11,210 2,903 3,268 1,636 21,488 7,813 4,021 2,861 75,997
Total equity ........................ – – – – – – – – 10,629 10,629
Total equity and
liabilities64 ...................... 20,797 11,210 2,903 3,268 1,636 21,488 7,813 4,021 13,490 86,626
For footnotes, see page 249.