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Home > Financial Info > 2006 > Balance sheet
Balance sheet
20th (current) period as at March 31th 2007
19th (precious) period as at March 31th 2006
Company Name: Mirae Asset Life Insurance Co., Ltd.
Summary
(unit : Won)
Accounts 20th period (current period) 19th period (previous period)
Amount Amount
Assets        
I. Cash and Dues from Financial Institutions   243,317,171,109   37,960,632,317
1. Cash and Dues from Financial Institutions   242,317,171,109   37,960,632,317
A. Cash 8,417,060,296   5,806,421,560  
B. Current Deposits 1,326,603,303   1,851,950,403  
C. Deposits on Demand 11,043,879,291   17,002,260,354  
D. Time Deposits 23,650,000,000   800,000,000  
E. Other Due from Financial Institutions 197,879,628,219   12,500,000,000  
2. Trust Accounts   1,000,000,000   -
II. Trading Securities   204,118,755,636   605,544,263,194
1. Government Bonds   -   39,485,478,915
2. Special Purpose Bonds   9,527,037,946   293,903,410,102
3. Corporate Bonds   -   9,829,383,091
4. Beneficiary Interest in Investment Funds   194,591,171,690   262,325,991,086
III. Available for Sale Securities   1,648,390,206,006   1,119,940,224,309
1. Shares   93,116,051,183   73,673,586
2. Capital Stock   90,000,000,000   -
3. Government Bonds   241,096,072,682   271,238,461,350
4. Special Purpose Bonds   301,300,236,287   228,964,068,261
5. Corporate Bonds   274,797,003,346   174,097,037,528
6. Beneficiary Interest in Investment Funds   475,738,467,337   301,512,841,204
7. Foreign Marketable Securities   82,337,340,898   91,488,742,515
8. Other Marketable Securities   90,005,034,273   52,565,399,865
IV. Securities Owned to Maturity   1,000,445,312,716   901,710,418,602
1. Government Bonds   280,410,104,156   268,232,692,601
2. Special Purpose Bonds   324,513,461,894   279,331,077,112
3. Corporate Bonds   158,053,746,666   148,020,648,889
4. Foreign Marketable Securities   141,045,000,000   126,314,500,000
5. New Marketable Securities   96,423,000,000   79,811,500,000
V. Equity Method Investment   58,363,282,238   47,840,000,000
1. Shares   58,363,282,238   47,840,000,000
VI. Loans   986,337,195,177   1,213,503,003,274
(Provision for Bad Debts)   (-)12,112,500,822   (-)15,149,485,991
1. Policy Loans   537,965,083,132   493,622,232,695
2. Loans Secured by Securities   -   2,500,000,000
3. Loans Secured by Real-estate   356,632,247,201   516,456,594,386
4. Unsecured Loans   43,628,884,906   80,796,302,571
5. Loans on Acceptances and Guarantees   14,126,445,451   20,138,006,385
6. Other Loans   46,097,035,309   115,139,353,228
VII. Fixed Assets   164,957,061,087   138,529,753,425
1. Investment Assets   364,160,428   1,405,404,949
(가치하락손실충당금)   (-)340,718,788   -
A. Land   197,962,280   453,390,842
B. Buildings 589,438,296   1,081,834,208  
(Accumulated Depreciation) (-)82,521,360 506,916,936 (-)129,820,101 952,014,107
2. Tangible Assets   148,966,956,545   119,074,167,843
(가치하락손실충당금)   (-)932,927,072   -
A. Land   21,596,599,500   21,596,599,500
B. Buildings 98,122,381,959   86,954,538,867  
(Accumulated Depreciation) (-)11,748,563,974 86,373,817,985 (-)9,990,859,630 76,963,679,237
C. Structures 164,842,550   164,842,550  
(Accumulated Depreciation) (-)39,780,714 125,061,836 (-)33,187,011 131,655,539
D. Vehicles and Transportation Equipment 1,377,575,060   1,209,183,660  
(Accumulated Depreciation) (-)733,357,516 644,217,544 (-)330,111,205 879,072,455
E. Office Equipment 75,559,615,151   49,550,440,577  
(Accumulated Depreciation) (-)42,291,986,600 33,267,628,551 (-)30,928,129,465 18,622,311,112
F. Other Tangible Assets   905,850,000   880,850,000
G. Building Account   6,986,708,201   -
3. Intangible Assets   15,625,944,114   18,050,180,633
A. Software   1,964,203,678   1,739,370,515
B. Other Intangible Assets   13,661,740,436   16,310,810,118
VIII. Other Assets   2,237,939,029,703   1,503,490,093,961
1. Insurance Receivables 57,180,544,473   38,093,821,240  
(Provision for Bad Debts) (-)118,386,051 57,062,158,422 (-)30,431,463 38,063,389,777
2. Non-trade Receivables 7,119,556,538   4,427,292,664  
(Provision for Bad Debts) (-)1,080,276,730 6,039,279,808 (-)1,025,828,667 3,401,463,997
3. Accrued Revenues 45,888,554,519   44,569,611,154  
(Provision for Bad Debts) (-)85,583,947 45,802,970,572 (-)258,372,830 44,311,238,324
4. Prepayments   254,480,000   817,239,742
5. Advance Expenses   1,291,551,236   1,355,289,824
6. Income Tax Refund Receivable   12,846,204,200   -
7. Deposits Received   96,724,744,008   49,673,485,621
8. Acquisition Costs of New or Renewal Insurance Contracts   582,617,024,804   429,790,089,143
9. Subsidiary Special Account   2,511,991,883   1,763,575,404
10. Derivative Assets   36,181,083,784   43,047,127,191
11. Subsidiary Asset Account   1,396,607,540,986   891,267,194,938
Total Assets   6,543,868,013,672   5,568,518,389,082
Liabilities        
I. Insurance Reserve   4,549,625,812,526   4,152,924,076,417
Reserve Adjustment Account for Reinsurance Ceded   (-)3,150,531,966   (-)3,117,075,950
1. Premium Reserve   4,398,466,699,767   3,993,595,200,516
2. Unearned Premium Reserve   1,804,637,792   2,071,553,033
3. Reserve for Outstanding Claims   133,449,659,718   140,551,025,954
4. Reserve for Participating Policyholders' Dividends   18,634,671,439   19,823,334,619
A. Reserve for Interest Rate Difference Guarantee 7,210,964,518   7,580,955,436  
B. Dividend Reserves for Differences Due to Risk 8,726,460,951   9,390,798,922  
C. Dividend Reserves for Difference in Interest 2,680,139,153   2,833,491,834  
D. Special Reserve for Long-term Maintenance 17,106,817   18,088,427  
5. Unallocated Divisible Surplus to Future Policyholders   294,484,517   38,245
6. Participating Insurance Indemnification Reserve   126,191,259   -
II. Policy Reserve Adjustment   6,515,137,781   -
1. Gain on Valuation of Available-for-sale Securities   6,191,230,471   -
2. 지분법자동변동   323,907,310   -
III. Other Liabilities   1,641,092,944,303   1,114,045,279,459
1. Insurance Claims Payable   39,636,078,013   37,954,520,313
2. Accounts Payable   3,799,576,973   2,766,955,943
3. Accrued Expense   53,491,134,841   37,807,964,708
4. Income Taxes Payable   -   10,424,208,281
5. Borrowings   45,000,000,000   45,000,000,000
6. Unearned Revenue   84,101,963   539,089,650
7. Deposits   14,290,259,201   5,744,203,805
8. Prepaid Insurance   14,292,637,446   7,720,379,455
9. Subsidiary Credit Account   42,972,274,532   19,162,484,436
10. Deferred Income Tax Liabilities   19,789,015,573   39,451,959,534
11. Lease Deposits   4,403,143,960   5,380,355,450
12. Provision for Severance Pay 19,813,708,600   18,587,195,640  
National Pension Conversion Fund (-)324,907,950   (-)364,587,750  
Reserve for Severance Benefits (-)17,869,988,530 1,618,812,120 (-)11,782,608,605 6,439,999,285
13. Derivative Liabilities   100,095,473   -
14. Minimum Guarantee Reserves for Death   283,761,757   40,349,849
15. Minimum Guarantee Reserves for Annuities   1,705,678,582   304,034,286
16. Other Liabilities   3,018,832,883   4,041,579,526
17. Subsidiary Liability Account   1,396,607,540,986   891,267,194,938
Total Liabilities   6,197,233,894,610   5,266,969,355,876
Capital        
I. Equity   421,275,000,000   421,275,000,000
1. Ordinary Shares   421,275,000,000   421,275,000,000
II. Deficit   (-)16,408,733,804   (-)51,027,639,321
1. Deficits Before Adjustment   (-)16,408,733,804   (-)51,027,639,321
Net profit
current period: 29,066,514,547 won
previous period: 43,219,570,879 won		        
III. Capital Adjustment   (-)58,232,147,134   (-)68,698,327,473
1. Discount on Shares   (-)65,807,035,128   (-)65,788,837,128
2. Gain on Valuation of Available-for-sale Securities   7,198,294,024   -
3. Loss on Valuation of Available-for-sale Securities   -   (-)2,909,490,345
4. 지분법자동변동   376,593,970   -
Total Equity   346,634,119,062   301,549,033,206
Total Liabilities & Equity   6,543,868,013,672   5,568,518,389,082
Special Accounts
(unit : Won)
Accounts The 20th Period Month Ending March 2007 The 19th Period Month Ending March 2006
Amount Amount
I. Cash and Dues from Financial Institutions 0 92,022,698,908 0 21,643,083,034
1. Cash 0 0 0 0
2. Current Deposits 0 0 0 0
3. Deposits on Demand 1,286,076,769 0 7,486,986,384 0
4. Time Deposits 50,050,000,000 0 13,000,000,000 0
5. Other Due from Financial Institutions 39,327,383,139 0 0 0
6. Trust Accounts 0 0 0 0
7. Margin 1,359,239,000 0 1,156,096,650 0
II. Marketable Securities 0 1,146,114,149,146 0 809,888,557,632
1. Shares 217,739,753,150 0 115,205,603,735 0
2. Government Bonds 146,825,159,670 0 163,604,097,718 0
3. Special Purpose Bonds 418,655,933,423 0 350,230,243,626 0
4. Corporate Bonds 29,906,010,120 0 89,689,063,715 0
5. Beneficiary Interest in Investment Funds 304,411,690,042 0 91,159,548,838 0
6. Foreign Marketable Securities 0 0 0 0
7. Futures and Options 0 0 0 0
8. Other Marketable Securities 28,575,602,741 0 0 0
III. Loans 0 100,782,296,076 0 31,290,549,047
(Provision for Bad Debts) -141,183,032 0 -94,226,444 0
Current discounted value 0 0 0 0
1. Call Loans 81,600,000,000 0 18,600,000,000 0
2. Policy Loans 7,824,420,000 0 255,980,000 0
3. Loans Secured by Securities 0 0 0 0
4. Loans Secured by Real-estate 0 0 0 0
5. Loans on Discounted Notes 0 0 0 0
6. Unsecured Loans 11,499,059,108 0 12,528,795,491 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 14,716,122,324 0 9,282,520,789
1. Non-trade Receivables 6,990,000 0 4,100,407,232 0
2. Interest Receivable 9,378,896,199 0 4,378,352,647 0
3. Dividends Receivable 2,184,485,445 0 803,760,910 0
4. Advance Expenses 0 0 0 0
5. Prepaid Withholding Tax 3,145,750,680 0 0 0
6. Miscellaneous 0 0 0 0
VI. General Account Debit 0 42,972,274,532 0 19,162,484,436
Total Assets 0 1,396,607,540,986 0 891,267,194,938
I. Other Liabilities 0 49,468,751,435 0 51,127,660,980
1. Accounts Payable 2,190,575,560 0 1,290,304,600 0
2. Accrued Expense 1,975,470,679 0 1,619,999,573 0
3. Interest on Bank Overdrafts 0 0 0 0
4. Borrowings 0 0 0 0
5. Unearned Revenue 29,315,797 0 23,080,822 0
6. Deposits 0 0 0 0
7. Withholding Taxes Payable 75,714,340 0 103,065,850 0
8. Futures and Options liabilities 0 0 0 0
9. Miscellaneous 45,197,675,059 0 48,091,210,135 0
II. General Account Credit 0 2,511,991,883 0 1,763,575,404
Total Liabilities 0 51,980,743,318 0 52,891,236,384
III. Policyholder Reserves 0 1,344,626,797,668 0 838,375,958,554
1. Premium Reserve 1,337,986,884,665 0 833,855,388,183 0
2. Reserve for Participating Policyholders' Dividends 6,215,035,478 0 3,162,457,457 0
3. Unallocated Divisible Surplus to Future Policyholders 424,877,525 0 1,358,112,914 0
Provision for Reserves 0 0 0 0
Total Liabilities & Reserves 0 1,396,607,540,986 0 891,267,194,938