HSBC 2011 Annual Report Download - page 176

HSBC HOLDINGS PLC
Report of the Directors: Operating and Financial Review (continued)
Risk > Insurance risk > Balance sheet of insurance manufacturing subsidiaries > Financial risks
174
Balance sheet of insurance manufacturing subsidiaries by type of contract (continued)
Insurance contracts Investment contracts
With
DPF
Unit-
linked
Annu-
ities
Term
assur-
ance70
Non-life
With
DPF68
Unit-
linked Other
Other
assets71 Total
US$m US$m US$m US$m US$m US$m US$m US$m US$m US$m
At 31 December 2010
Financial assets .................. 17,665 9,763 2,615 2,671 2,231 21,511 8,338 3,927 7,157 75,878
– trading assets ................ – – – – 11 – – – – 11
– financial assets
designated at fair value 1,206 9,499 413 523 180 5,961 7,624 1,486 1,452 28,344
– derivatives .................... 53 – 1 6 – 229 7 1 4 301
– financial investments ... 14,068 – 1,847 1,661 692 14,465 – 1,804 4,495 39,032
– other financial assets .... 2,338 264 354 481 1,348 856 707 636 1,206 8,190
Reinsurance assets ............. 10 760 400 263 432 – – – 79 1,944
PVIF72 ................................ – – – – – – – – 3,440 3,440
Other assets and
investment properties ...... 189 6 21 398 213 565 14 56 712 2,174
Total assets ......................... 17,864 10,529 3,036 3,332 2,876 22,076 8,352 3,983 11,388 83,436
Liabilities under investment
contracts:
– designated at fair value. – – – – – – 8,321 3,379 – 11,700
– carried at amortised cost – – – – – – – 439 – 439
Liabilities under
insurance contracts .......... 17,808 10,496 2,884 2,891 2,456 22,074 – – – 58,609
Deferred tax ....................... 11 – 20 4 6 – – 1 793 835
Other liabilities .................. – – – – – – – – 2,075 2,075
Total liabilities ................... 17,819 10,496 2,904 2,895 2,462 22,074 8,321 3,819 2,868 73,658
Total equity ........................ – – – – – – – – 9,778 9,778
Total equity and
liabilities73 ...................... 17,819 10,496 2,904 2,895 2,462 22,074 8,321 3,819 12,646 83,436
For footnotes, see page 185.
Balance sheet of insurance manufacturing subsidiaries by geographical region66
(Audited)
Europe
Hong
Kong
Rest of
Asia-
Pacific
North
America
Latin
America
Total
US$m US$m US$m US$m US$m US$m
At 31 December 2011
Financial assets ................................................... 34,163 30,126 2,093 2,414 9,574 78,370
– trading assets ............................................... –––– 27 27
– financial assets designated at fair value ...... 15,583 5,875 1,155 – 6,257 28,870
– derivatives ................................................... 244 114 –– – 358
– financial investments ................................... 15,531 19,858 617 1,846 2,434 40,286
– other financial assets ................................... 2,805 4,279 321 568 856 8,829
Reinsurance assets .............................................. 746 912 39 19 128 1,844
PVIF72 ................................................................. 1,097 2,322 282 65 326 4,092
Other assets and investment properties .............. 909 946 31 24 410 2,320
Total assets ......................................................... 36,915 34,306 2,445 2,522 10,438 86,626
Liabilities under investment contracts:
– designated at fair value ................................ 6,961 4,405 33 – – 11,399
– carried at amortised cost .............................. – – – – 435 435
Liabilities under insurance contracts .................. 25,795 25,160 1,802 1,079 7,423 61,259
Deferred tax ........................................................ 352 408 60 28 126 974
Other liabilities ................................................... 1,200 269 69 13 379 1,930
Total liabilities .................................................... 34,308 30,242 1,964 1,120 8,363 75,997
Total equity ......................................................... 2,607 4,064 481 1,402 2,075 10,629
Total equity and liabilities73 ............................... 36,915 34,306 2,445 2,522 10,438 86,626