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Sun Life Assurance Society Plc Sun Life Assurance Society Plc Annual FSA Insurance Returns for the year ended 31st December 2009 (Appendices 9.1, 9.3, 9.4, 9.6) Produced using BestESP® Services - UK Sun Life Assurance Society Plc Year ended 31st December 2009 Contents Page Appendix 9.1 Form 2 Statement of solvency – long-term insurance business 1 Covering sheet to Form 2 2 Form 3 Components of capital resources 3 Form 13 Analysis of admissible assets 6 Form 14 Long-term insurance business liabilities and margins 12 Form 15 Liabilities (other than long-term insurance business) 13 Form 16 Profit and loss account (non-technical account) 14 Form 17 Analysis of derivative contracts 15 Form 18 With-profits insurance capital component for the fund 16 Form 19 Realistic balance sheet 17 Appendix 9.3 Form 40 Long-term insurance business: Revenue account 19 Form 41 Long-term insurance business: Analysis of premiums 20 Form 42 Long-term insurance business: Analysis of claims 21 Form 43 Long-term insurance business: Analysis of expenses 22 Form 44 Long-term insurance business: Linked funds balance sheet 23 Form 46 Long-term insurance business: Summary of new business 24 Form 47 Long-term insurance business: Analysis of new business 25 Form 48 Long-term insurance business: Assets not held to match linked liabilities 31 Form 49 Long-term insurance business: Fixed and variable interest assets 32 Form 50 Long-term insurance business: Summary of mathematical reserves 33 Form 51 Long-term insurance business : Valuation summary of non-linked contracts 34 (other than accumulating with-profit contracts) Form 52 Long-term insurance business: Valuation summary of accumulating 41 with-profits contracts Form 53 Long-term insurance business: Valuation summary of property linked 44 contracts Form 54 Long-term insurance business: Valuation summary of index linked contracts 51 Form 56 Long-term insurance business: index linked business 57 Form 57 Long-term insurance business - analysis of valuation interest rate 58 Form 58 Long-term insurance business: distribution of surplus 59 Form 59A Long-term insurance business: With-profits payouts on maturity (normal 60 retirement) Form 59B Long-term insurance business: With-profits payouts on surrender 61 Form 60 Long-term insurance capital requirement 62 Notes to the Return 63 Appendix 9.4 Abstract of Valuation Report 73 Sun Life Assurance Society Plc Year ended 31st December 2009 Contents Page Appendix 9.4 (continued) Abstract of Valuation Report for Realistic Valuation 89 Additional information on Derivative Contracts 102 Additional information on Controllers 103 Information on the Appointed Actuary 104 Appendix 9.6 Certificate by Directors 105 Report of the Auditors 106 29032010:08:00:00 Statement of solvency - long-term insurance business Form 2 Name of insurer Sun Life Assurance Society Plc Global business Financial year ended 31st December 2009 Solo solvency calculation Company GL/ registration UK/ number CM day month year units R2 776273 GL 31 12 2009 £000 As at end of As at end of this financial year the previous year 1 2 Capital resources Capital resources arising within the long-term insurance fund 11 933646 715117 Capital resources allocated towards long-term insurance business arising outside 12 246156 224883 the long-term insurance fund Capital resources available to cover long-term insurance business capital 13 1179802 940000 resources requirement (11+12) Guarantee fund Guarantee fund requirement 21 110259 128432 Excess (deficiency) of available capital resources to cover guarantee fund 22 1069543 811568 requirement Minimum capital requirement (MCR) Long-term insurance capital requirement 31 330777 385296 Resilience capital requirement 32 Base capital resources requirement 33 3128 2518 Individual minimum capital requirement 34 330777 385296 Capital requirements of regulated related undertakings 35 Minimum capital requirement (34+35) 36 330777 385296 Excess (deficiency) of available capital resources to cover 50% of MCR 37 1014413 747352 Excess (deficiency) of available capital resources to cover 75% of MCR 38 931719 651028 Enhanced capital requirement With-profits insurance capital component 39 490433 149912 Enhanced capital requirement 40 821210 535208 Capital resources requirement (CRR) Capital resources requirement (greater of 36 and 40) 41 821210 535208 Excess (deficiency) of available capital resources to 42 358592 404792 cover long-term insurance business CRR (13-41) Contingent liabilities Quantifiable contingent liabilities in respect of long-term 51 insurance business as shown in a supplementary note to Form 14 1 29032010:08:00:00 Covering sheet to Form 2 Form 2 Name of insurer Sun Life Assurance Society Plc Global business Financial year ended 31st December 2009 ............................................................ P. J. Evans Chief Executive ............................................................ A. M. Parsons Director ............................................................ A. J. Purvis Director London 2 29032010:08:00:00 Components of capital resources Form 3 (Sheet 1) Name of insurer Sun Life Assurance Society Plc Global business Financial year ended 31st December 2009 Company GL/ registration UK/ number CM day month year units R3 776273 GL 31 12 2009 £000 General Long-term Total as at the Total as at the insurance insurance end of this end of the business business financial year previous year 1 2 3 4 Core tier one capital Permanent share capital 11 2973 2973 2973 Profit and loss account and other reserves 12 331381 331381 314598 Share premium account 13 4023 4023 4023 Positive valuation differences 14 1013297 1013297 315397 Fund for future appropriations 15 293871 293871 874003 Core tier one capital in related undertakings 16 Core tier one capital (sum of 11 to 16) 19 1645545 1645545 1510994 Tier one waivers Unpaid share capital / unpaid initial funds and calls for 21 supplementary contributions Implicit items 22 Tier one waivers in related undertakings 23 Total tier one waivers as restricted 24 (21+22+23) Other tier one capital Perpetual non-cumulative preference shares as restricted 25 Perpetual non-cumulative preference shares in related 26 undertakings Innovative tier one capital as restricted 27 Innovative tier one capital in related undertakings 28 Total tier one capital before deductions 31 1645545 1645545 1510994 (19+24+25+26+27+28) Investments in own shares 32 Intangible assets 33 Amounts deducted from technical provisions for discounting 34 Other negative valuation differences 35 Deductions in related undertakings 36 Deductions from tier one (32 to 36) 37 Total tier one capital after deductions 39 1645545 1645545 1510994 (31-37) 3 29032010:08:00:00 Components of capital resources Form 3 (Sheet 2) Name of insurer Sun Life Assurance Society Plc Global business Financial year ended 31st December 2009 Company GL/ registration UK/ number CM day month year units R3 776273 GL 31 12 2009 £000 General Long-term Total as at the Total as at the insurance insurance end of this end of the business business financial year previous year 1 2 3 4 Tier two capital Implicit items, (tier two waivers and amounts excluded 41 from line 22) Perpetual non-cumulative preference 42 shares excluded from line 25 Innovative tier one capital excluded from line 27 43 Tier two waivers, innovative tier one capital and perpetual non-cumulative preference shares treated 44 as tier two capital (41 to 43) Perpetual cumulative preference shares 45 Perpetual subordinated debt and securities 46 Upper tier two capital in related undertakings 47 Upper tier two capital (44 to 47) 49 Fixed term preference shares 51 Other tier two instruments 52 Lower tier two capital in related undertakings 53 Lower tier two capital (51+52+53) 59 Total tier two capital before restrictions (49+59) 61 Excess tier two capital 62 Further excess lower tier two capital 63 Total tier two capital after restrictions, 69 before deductions (61-62-63) 4 29032010:08:00:00 Components of capital resources Form 3 (Sheet 3) Name of insurer Sun Life Assurance Society Plc Global business Financial year ended 31st December 2009 Company GL/ registration UK/ number CM day month year units R3 776273 GL 31 12 2009 £000 General Long-term Total as at the Total as at the insurance insurance end of this end of the business business financial year previous year 1 2 3 4 Total capital resources Positive adjustments for regulated 71 non-insurance related undertakings Total capital resources before deductions 72 1645545 1645545 1510994 (39+69+71) Inadmissible assets other than 73 364882 364882 460343 intangibles and own shares Assets in excess of market risk and counterparty limits 74 100854 100854 110626 Deductions for related ancillary services undertakings 75 7 7 25 Deductions for regulated non-insurance related undertakings 76 Deductions of ineligible surplus capital 77 Total capital resources after deductions 79 1179802 1179802 940000 (72-73-74-75-76-77) Available capital resources for GENPRU/INSPRU tests Available capital resources for guarantee fund requirement 81 1179802 1179802 940000 Available capital resources for 50% MCR requirement 82 1179802 1179802 940000 Available capital resources for 75% MCR requirement 83 1179802 1179802 940000 Financial engineering adjustments Implicit items 91 Financial reinsurance – ceded 92 Financial reinsurance – accepted 93 78054 78054 94024 Outstanding contingent loans 94 Any other charges on future profits 95 Sum of financial engineering adjustments 96 (78054) (78054) (94024) (91+92-93+94+95) 5 29032010:08:00:00 Analysis of admissible
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