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Home > Financial Info > 2005 > Balance sheet
Balance sheet
19th (current) period as at March 31th 2006
18th (precious) period as at March 31th 2005
Company Name: Mirae Asset Life Insurance Co., Ltd.
Summary
(unit : Won)
Accounts 19th period (current period) 18th period (previous period)
Amount Amount
Assets        
I. Cash and Dues from Financial Institutions   37,960,632,317   26,374,672,767
1. Cash and Dues from Financial Institutions   37,960,632,317   26,323,208,344
A. Cash 5,806,421,560   6,353,613,950  
B. Current Deposits 1,851,950,403   649,503,574  
C. Deposits on Demand 17,002,260,354   16,188,421,127  
D. Time Deposits 800,000,000   -  
E. Other Due from Financial Institutions 12,500,000,000   3,131,669,693  
2. Deposits for Futures and Options Transaction   -   37,713,758
3. Other Due from Financial Institutions   -   13,750,665
II. Trading Securities   605,544,263,194   599,916,432,448
1. Government Bonds   39,485,478,915   39,796,165,737
2. Special Purpose Bonds   293,903,410,102   152,240,165,614
3. Corporate Bonds   9,829,383,091   -
4. Beneficiary Interest in Investment Funds   262,325,991,086   351,117,452,368
5. Other Marketable Securities   -   56,762,648,729
III. Available for Sale Securities   1,167,780,224,309   711,496,061,418
1. Shares   47,913,673,586   41,380,240,550
2. Government Bonds   271,238,461,350   254,760,457,876
3. Special Purpose Bonds   228,964,068,261   150,868,856,568
4. Corporate Bonds   174,097,037,528   146,055,939,694
5. Beneficiary Interest in Investment Funds   301,512,841,204   -
6. Foreign Marketable Securities   91,488,742,515   97,115,169,489
7. Other Marketable Securities   52,565,399,865   21,315,397,241
IV. Securities Owned to Maturity   901,710,418,602   657,672,406,963
1. Government Bonds   268,232,692,601   132,520,254,670
2. Special Purpose Bonds   279,331,077,112   211,926,438,286
3. Corporate Bonds   148,020,648,889   108,494,214,007
4. Foreign Marketable Securities   126,314,500,000   132,008,500,000
5. New Marketable Securities   79,811,500,000   72,723,000,000
V. Loans   1,213,503,003,274   1,455,115,405,132
((Provision for Bad Debts))   (-)15,149,485,991   (-)29,780,588,056
1. Call Loans   -   68,900,000,000
2. Policy Loans   493,622,232,695   447,546,655,483
3. Loans Secured by Securities   2,500,000,000   -
4. Loans Secured by Real-estate   516,456,594,386   638,607,631,861
5. Unsecured Loans   80,796,302,571   107,465,546,690
6. Loans on Acceptances and Guarantees   20,138,006,385   25,988,004,897
7. Other Loans   115,139,353,228   196,388,154,257
VI. Fixed Assets   138,529,753,425   137,402,408,031
1. Investment Assets   1,405,404,949   1,427,041,630
A. Land   453,390,842   453,390,842
B. Buildings 1,081,834,208   1,081,834,208  
(Accumulated Depreciation) (-)129,820,101 952,014,107 (-)108,183,420 973,650,788
2. Tangible Assets   119,074,167,843   113,810,070,032
A. Land   21,596,599,500   21,596,599,500
B. Buildings 86,954,538,867   86,954,538,867  
(Accumulated Depreciation) (-)9,990,859,630 76,963,679,237 (-)8,251,768,849 78,702,770,018
C. Structures 164,842,550   164,842,550  
(Accumulated Depreciation) (-)33,187,011 131,655,539 (-)26,593,309 138,249,241
D. Vehicles and Transportation Equipment 1,209,183,660   295,694,000  
(Accumulated Depreciation) (-)330,111,205 879,072,455 (-)234,301,398 61,392,602
E. Office Equipment 49,550,440,577   37,482,401,499  
(Accumulated Depreciation) (-)30,928,129,465 18,622,311,112 (-)25,052,192,828 12,430,208,671
F. Other Tangible Assets   880,850,000   880,850,000
3. Intangible Assets   18,050,180,633   22,165,296,369
A. Software   1,739,370,515   1,139,738,473
B. Other Intangible Assets   16,310,810,118   21,025,557,896
VII. Other Assets   1,503,490,093,961   1,171,836,659,366
1. Insurance Receivables 38,093,821,240   37,269,639,906  
(Provision for Bad Debts) (-)30,431,463 38,063,389,777 - 37,269,639,906
2. Non-trade Receivables 4,427,292,664   3,303,679,902  
(Provision for Bad Debts) (-)1,025,828,667 3,401,463,997 (-)1,129,955,984 2,173,723,918
3. Deposits Received   49,673,485,621   37,650,271,409
4. Accrued Revenues 44,569,611,154   44,860,034,639  
(Provision for Bad Debts) (-)258,372,830 44,311,238,324 (-)311,968,805 44,548,065,834
5. Advance Expenses   1,355,289,824   1,117,688,424
6. Income Tax Refund Receivable   -   9,759,715,670
7. Prepayments   817,239,742   168,013,600
8. Acquisition Costs of New or Renewal Insurance Contracts   429,790,089,143   408,993,085,124
9. Subsidiary Debit Account   1,763,575,404   1,721,477,444
10. Derivative Assets   43,047,127,191   55,815,918,765
11. Subsidiary Asset Account   891,267,194,938   572,619,059,272
Total Assets   5,568,518,389,082   4,759,814,046,125
Liabilities        
I. Insurance Reserve   4,152,924,076,417   3,744,631,128,116
Reserve Adjustment Account for Reinsurance Ceded   (-)3,117,075,950   (-)2,915,502,565
1. Premium Reserve   3,993,595,200,516   3,587,387,891,542
2. Unearned Premium Reserve   2,071,553,033   2,388,737,026
3. Reserve for Outstanding Claims   140,551,025,954   136,522,960,791
4. Reserve for Participating Policyholders' Dividends   19,823,334,619   21,247,003,077
A. Reserve for Interest Rate Difference Guarantee 7,580,955,436   8,057,861,316  
B. Dividend Reserves for Differences Due to Risk 9,390,798,922   10,122,841,152  
C. Dividend Reserves for Difference in Interest 2,833,491,834   3,046,359,905  
D. Special Reserve for Long-term Maintenance 18,088,427   19,940,704  
5. Unallocated Divisible Surplus to Future Policyholders   38,245   38,245
II. Policy Reserve Adjustment   -   10,897,464,786
1. Gain on Valuation of Available-for-sale Securities   -   10,897,464,786
III. Other Liabilities   1,114,045,279,459   894,551,530,704
1. Insurance Claims Payable   37,954,520,313   31,502,444,393
2. Accounts Payable   2,766,955,943   192,053,400
3. Accrued Expense   37,807,964,708   30,292,813,745
4. Income Taxes Payable   10,424,208,281   -
5. Borrowings   45,000,000,000   160,000,000,000
6. Unearned Revenue   539,089650   1,106,235,240
7. Deposits   5,744203805   4,871,050,255
8. Prepaid Insurance   7,720379455   3,216,885,333
9. Subsidiary Credit Account   19,162484436   4,062,737,784
10. Deferred Income Tax Liabilities   39,451959534   61,686,441,629
11. Lease Deposits   5,380355450   5,471,715,600
12. Provision for Severance Pay 18,587,195,640   22,238,587,890  
National Pension Conversion Fund (-)364,587,750   (-)535,598,050  
Reserve for Severance Benefits (-)11,782,608,605 6,439999285 (-)2,257,892,866 19,445,096,974
13. Derivative Liabilities   -   84,291,231
14. Minimum Guarantee Reserves for Death   40,349849   705,848
15. Minimum Guarantee Reserves for Annuities   304,034286   -
16. Other Liabilities   4,041579526   -
17. Subsidiary Liability Account   891267194938   572,619,059,272
Total Liabilities   5,266969355876   4,650,080,123,606
Capital        
I. Equity   421275000000   271,275,000,000
1. Ordinary Shares   421275000000   271,275,000,000
II. Deficit   (-)51,027,639,321   (-)80,094,153,868
1. Deficits Before Adjustment   (-)51,027,639,321   (-)80,094,153,868
Net profit
current period: 29,066,514,547 won
previous period: 43,219,570,879 won		        
III. Capital Adjustment   (-)68,698,327,473   (-)81,446,923,613
1. Discount on Shares   (-)65,788,837,128   (-)93,794,801,128
2. Gain on Valuation of Available-for-sale Securities   -   12,347,877,515
3. Loss on Valuation of Available-for-sale Securities   (-)2,909,490,345   -
Total Equity   301,549,033,206   109,733,922,519
Total Liabilities & Equity   5,568,518,389,082   4,759,814,046,125
Special Accounts
(unit : Won)
Accounts The 19th Period Month Ending March 2006 The 18th Period Month Ending March 2005
Amount Amount
I. Cash and Dues from Financial Institutions 0 21,643,083,034 0 176,019,252
1. Cash 0 0 0 0
2. Current Deposits 0 0 0 0
3. Deposits on Demand 7,486,986,384 0 4,082,252 0
4. Time Deposits 13,000,000,000 0 0 0
5. Other Due from Financial Institutions 0 0 0 0
6. Trust Accounts 0 0 0 0
7. Margin 1,156,096,650 0 171,937,000 0
II. Marketable Securities 0 809,888,557,632 0 545,005,796,899
1. Shares 115,205,603,735 0 6,571,521,660 0
2. Government Bonds 163,604,097,718 0 109,903,188,277 0
3. Special Purpose Bonds 350,230,243,626 0 282,009,271,550 0
4. Corporate Bonds 89,689,063,715 0 125,985,277,584 0
5. Beneficiary Interest in Investment Funds 91,159,548,838 0 20,532,537,828 0
6. Foreign Marketable Securities 0 0 0 0
7. Futures and Options 0 0 0 0
8. Other Marketable Securities 0 0 0 0
9. Valuation Gain/Loss Adjustment 0 0 0 0
(Valuation Gain Adjustments) 0 0 0 0
(Valuation Loss Adjustment) 0 0 0 0
III. Loans 0 31,290,549,047 0 16,594,523,174
(Provision for Bad Debts) 94,226,444 0 119,964,079 0
(Current discounted value) 0 0 0 0
1. Call Loans 18,600,000,000 0 0 0
2. Policy Loans 255,980,000 0 840,000 0
3. Loans Secured by Securities 0 0 0 0
4. Loans Secured by Real-estate 0 0 10,000,000 0
5. Loans on Discounted Notes 0 0 0 0
6. Unsecured Loans 12,528,795,491 0 16,703,647,353 0
7. Loans on Acceptances and Guarantees 0 0 0 0
8. Other Loans 0 0 0 0
IV. Fixed Assets 0 0 0 0
1. Investment Assets 0 0 0 0
2. Tangible Assets 0 0 0 0
V. Other assets 0 9,282,520,789 0 6,779,982,063
1. Non-trade Receivables 4,100,407,232 0 25,800,000 0
2. Interest Receivable 4,378,352,647 0 3,452,784,003 0
3. Dividends Receivable 803,760,910 0 60,937,110 0
4. Advance Expenses 0 0 0 0
5. Prepaid Withholding Tax 0 0 3,240,460,950 0
6. Miscellaneous 0 0 0 0
VI. General Account Debit 0 19,162,484,436 0 4,062,737,784
Total Assets 0 891,267,194,938 0 572,619,059,272
I. Other Liabilities 0 51,127,660,980 0 12,713,776,208
1. Accounts Payable 1,290,304,600 0 1,050,000 0
2. Accrued Expense 1,619,999,973 0 1,370,801,290 0
3. Interest on Bank Overdrafts 0 0 0 0
4. Borrowings 0 0 0 0
5. Unearned Revenue 23,080,822 0 27,829,864 0
6. Deposits 0 0 61,560,970 0
7. Withholding Taxes Payable 103,065,850 0 0 0
8. Futures and Options liabilities 0 0 0 0
9. Miscellaneous 48,091,210,135 0 11,252,534,084 0
II. General Account Credit 0 1,763,575,404 0 1,721,477,444
Total Liabilities 0 52,891,236,384 0 14,435,253,652
III. Policyholder Reserves 0 838,375,958,554 0 558,183,805,620
1. Premium Reserve 833,855,388,183 0 550,167,762,108 0
2. Reserve for Participating Policyholders' Dividends 3,162,457,457 0 6,028,910,815 0
3. Unallocated Divisible Surplus to Future Policyholders 1,358,112,914 0 1,987,132,697 0
Provision for Reserves 0 0 0 0
Total Liabilities & Reserves 0 891,267,194,938 0 572,619,059,272