2008 - Business scale - Profitability - Stability - Capital adequacy - Balance sheet - Profit & Loss account   2007   2006   2005   2004 Home > Financial Info > 2008 > Balance sheet Balance sheet 22th (current) period as at March 31th 2009 21th (current) period as at March 31th 2008 Company Name: Mirae Asset Life Insurance Co., Ltd. Summary (unit : Won) Accounts 22th period (current period) 21th period (previous period) Amount Amount Assets         I. Cash and Dues from Financial Institutions   195,806,883,869   463,254,910,145 1. Cash and Dues from Financial Institutions 188,263,402,134   463,254,910,145   A. Cash 4,734,876   4,703,282   B. Current Deposits 842,602,060   604,461,692   C. Deposits on Demand 33,533,167,574   44,273,638,981   D. Time Deposits 91,000,000,000   131,520,000,000   E. Other Due from Financial Institutions 62,882,897,624   286,852,106,190   2. Due from Financial Institutions 7,543,481,735   -   II. Marketable Securities   3,580,821,833,626   3,003,649,335,352 1. Trading Securities 248,356,462,723   513,833,159   A. Government Bonds 10,377,313,300   -   B. Special Purpose Bonds 237,979,149,423   513,833,159   2. Available for Sale Securities 2,225,710,386,767   1,990,520,905,993   A. Shares 95,712,043,046   152,193,839,908   B. Capital Stock 131,310,000,000   130,060,180,000   C. Government Bonds 374,734,582,052   193,354,176,691   D. Special Purpose Bonds 433,056,672,155   144,570,876,656   E. Bank Debenture 45,065,210,532   74,559,738,730   F. Corporate Bonds 287,271,562,738   301,401,663,824   G. Beneficiary Interest in Investment Funds 773,549,430,943   885,227,694,204   H. Foreign Marketable Securities 45,624,102,301   57,676,129,717   I. Other Marketable Securities 39,386,783,000   51,476,606,263   3. Securities Owned to Maturity 1,039,715,894,431   898,825,443,305   A. Government Bonds 328,412,636,937   276,044,579,268   B. Special Purpose Bonds 415,139,825,819   234,728,805,140   C. Bank Debenture 40,000,000,000   79,476,426,863   D. Corporate Bonds 118,453,431,675   138,107,632,034   E. Foreign Marketable Securities 137,710,000,000   170,468,000,000   4. Equity Method Investment 67,039,089,705   113,789,152,895   A. Shares 67,039,089,705   113,789,152,895   III. Loans   818,319,062,934   863,404,798,087 (Provision for Bad Debts) (7,402,860,634)   (8,650,993,031)   1. Policy Loans 615,937,559,530   573,645,600,270   2. Loans Secured by Real-estate 142,406,326,579   220,862,070,919   3. Unsecured Loans 36,946,591,466   42,695,740,599   4. Loans on Acceptances and Guarantees 9,661,420,229   10,640,457,335   5. Other Loans 20,770,025,764   24,211,921,995   IV. Tangible Assets   248,047,686,866   161,521,863,139 1. Land 117,578,649,331   20,992,931,500   2. Buildings 116,785,158,372   96,254,184,689   (Accumulated Depreciation) (15,541,022,060)   (13,376,410,339)   3. Structures 141,842,550   141,842,550   (Accumulated Depreciation) (44,688,111)   (39,014,409)   4. Vehicles and Transportation Equipment 1,148,908,960   1,267,601,000   (Accumulated Depreciation) (974,602,250)   (930,913,611)   5. Office Equipment 95,751,383,197   93,949,026,941   (Accumulated Depreciation) (70,336,810,596)   (59,623,136,948)   6. Leasehold Improvements 2,439,974,750   2,439,974,750   (Accumulated Depreciation) (772,658,675)   (284,663,725)   7. Building Account 965,701,398   19,824,590,741   8. Other Tangible Assets 905,850,000   905,850,000   V. Other Assets   1,198,546,271,529   1,148,938,873,398 1. Investment Assets 523,417,545   359,870,980   A. Land 365,846,000   197,962,280   Accumulated unrecoverable losses (20,299,495)   (20,299,495)   B. Buildings 589,438,296   589,438,296   (Accumulated Depreciation) (91,147,963)   (86,810,808)   Accumulated unrecoverable losses (320,419,293)   (320,419,293)   2. Intangible Assets 36,980,834,485   14,073,666,135   A. Software 6,380,104,741   3,553,951,698   B. Other Intangible Assets 30,600,729,744   10,519,714,437   3. Insurance Receivables 47,933,197,832   52,411,666,658   (Provision for Bad Debts) (108,049,485)   (57,406,501)   4. Non-trade Receivables 9,217,536,306   38,279,780,091   (Provision for Bad Debts) (1,049,088,468)   (921,381,529)   5. Accrued Revenues 55,613,171,317   53,946,052,060   (Provision for Bad Debts) (70,711,755)   (72,518,265)   6. Prepayments 399,549,204   136,040,875   7. Advance Expenses 2,674,447,603   1,774,152,519   8. Income Tax Refund Receivable -   3,783,230,830   9. Deferred Income Tax Assets 33,961,445,407   -   10. Deposits Received 101,560,348,204   116,354,829,104   11. Acquisition Costs of New or Renewal Insurance Contracts 910,193,525,493   862,343,497,834   12. Derivative Assets 716,647,841   6,527,392,607   VI. Sspecial Asset Account   3,591,583,706,024   2,755,055,111,915 1. Saparate Account Payables (119,729,643,880)   (83,154,193,975)   2. Retirement Insurance 776,924,181,990   845,374,341,548   3. Retirement Pension 137,473,261,058   91,822,222,607   4. Variable Insurance 2,796,915,906,856   1,901,012,741,735   Total Assets   9,633,125,444,848   8,395,824,892,036 Liabilities         I. Insurance Reserve   5,269,047,086,447   4,893,421,042,000 Reserve Adjustment Account for Reinsurance Ceded (3,307,509,906)   (3,456,881,899)   1. Premium Reserve 5,110,437,109,841   4,733,351,580,488   2. Unearned Premium Reserve 1,239,233,520   1,552,030,757   3. Reserve for Outstanding Claims 142,131,608,530   142,542,964,415   4. Reserve for Participating Policyholders' Dividends 17,039,767,980   17,683,449,397   A. Reserve for Interest Rate Difference Guarantee 6,688,228,061   6,873,940,833   B. Dividend Reserves for Differences Due to Risk 7,889,353,216   8,254,845,962   C. Dividend Reserves for Difference in Interest 2,447,922,905   2,538,838,855   D. Special Reserve for Long-term Maintenance 14,263,798   15,823,747   5. Unallocated Divisible Surplus to Future Policyholders 1,506,876,482   1,428,702,217   6. Participating Insurance Indemnification Reserve -   319,196,625   II. Policy Reserve Adjustment   12,122,725,627   794,690,671 1. Gain on Valuation of Available-for-sale Securities 569,386,608   -   2. Changes in Capital Variation of Equity Method 80,886,693   794,690,671   3. Share of Associates' Other Changes in Net Assets (983,725)   -   4. Gains on revaluation of land 11,473,436,051   -   III. Borrowings   -   45,000,000,000 1. Borrowings -   45,000,000,000   IV. Other Liabilities   181,079,377,790   214,294,532,933 1. Insurance Claims Payable 26,756,653,267   41,746,088,335   2. Accounts Payable 1,862,670,192   7,439,584,827   3. Accrued Expense 57,888,431,643   77,228,690,132   4. Income Taxes Payable 1,924,139,084   -   5. Unearned Revenue 17,302,792   77,334,959   6. Deposits 13,767,524,196   25,557,761,202   7. Prepaid Insurance 19,285,301,996   34,028,972,475   8. Deferred Income Tax Liabilities -   239,221,947   9. Lease Deposits 4,512,932,892   3,543,221,260   10. Provision for Severance Pay 2,396,514,760   23,246,192,190   National Pension Conversion Fund -   (288,710,350)   Reserve for Severance Benefits -   (22,520,174,766)   Retirement Pension Assets (2,396,514,760)   -   11. Derivative Liabilities 36,334,799,318   10,409,291,988   12. Minimum Guarantee Reserves for Death 2,320,649,748   1,086,647,751   13. Minimum Guarantee Reserves for Annuities 9,350,265,780   5,116,253,118   14. Other Liabilities 7,058,706,882   7,384,157,865   V. Separate Account Liabilities   3,697,068,943,785   2,831,371,896,188 1. Separate Account Receivables (16,743,490,756)   (6,837,409,702)   2. Retirement Insurance 778,262,099,010   845,374,341,548   3. Retirement Pension 138,634,428,675   91,822,222,607   4. Variable Insurance 2,796,915,906,856   1,901,012,741,735   Total Liabilities   9,159,318,133,649   7,984,882,161,792 Capital         I. Equity   525,900,000,000   463,400,000,000 1. Ordinary Shares 525,900,000,000   463,400,000,000   II. Capital Surplus   78,744,826,078   - 1. Paid-in Capital in Excess of Par Value 78,744,826,078   -   III. Capital Adjustment       (7,551,999,708) 1. Discount on Shares     (7,551,999,708)   IV. Accumulated Other Comprehensive Income   (128,555,587,993)   (32,901,415,567) 1. Loss on Valuation of Securities Available for Sale (146,921,560,582)   (34,266,691,392)   2. Loss on Valuation of Securities Held to Maturity -   (31,917,502)   3. Share of Associates' Other Changes in Net Assets 141,850,349   1,397,193,327   4. Share of Associates' Other Changes in Net Assets (1,725,157)   -   5. Gains on revaluation of land 20,120,872,705   -   6. Saparate Account Accumulated Other Comprehensive Income (1,895,025,308)   -   V. Deficit   (2,281,926,886)   (12,003,854,481) 1. Ddeficits Before Adjustment (2,281,926,886)   (12,003,854,481)   Total Equity   473,807,311,199   410,942,730,244 Total Liabilities & Equity   9,633,125,444,848   8,395,824,892,036 Special Accounts (unit : Won) Accounts 22th period (current period) 21th period (previous period) Amount Amount I. Cash and Dues from Financial Institutions 0 331,419,969,738 0 222,685,892,701 1. Cash 0 0 0 0 2. Current Deposits 0 0 0 0 3. Deposits on Demand 119,434,460,030 0 1,125,359,440 0 4. Time Deposits 180,000,000,000 0 191,400,000,000 0 5. Other Due from Financial Institutions 14,213,730,008 0 28,635,273,261 0 6. Trust Accounts 0 0 0 0 7. Margin 17,771,779,700 0 1,525,260,000 0 II. Marketable Securities 0 3,119,603,988,322 0 2,268,022,288,786 1. Trading Securities 3,052,174,516,924 0 2,238,464,141,709 0 (1). Shares 453,589,644,130 0 361,883,025,390 0 (2). Bonds 1,242,559,726,851 0 851,702,200,185 0 (3) Beneficiary Interest in Investment Funds 1,354,845,376,193 0 1,023,591,608,299 0 (4) Foreign Marketable Securities 1,179,769,750 0 1,287,307,835 0 (5) Other Marketable Securities 0 0 0 0 2. Available-for-sale Securities 57,411,674,622 0 9,402,106,205 0 (1) Shares 0 0 0 0 (2) Bonds 52,074,937,481 0 0 0 (3) Beneficiary Interest in Investment Funds 5,336,737,141 0 9,402,106,205 0 (4) Foreign Marketable Securities 0 0 0 0 (5) Other Marketable Securities 0 0 0 0 3. Securities Owned To Maturity 10,017,796,776 0 20,156,040,872 0 (1) Bonds 10,017,796,776 0 20,156,040,872 0 (2) Beneficiary Interest in Investment Funds 0 0 0 0 (3) Foreign Marketable Securities 0 0 0 0 (4) Other Marketable Securities 0 0 0 0 III. Loans 0 100,293,780,025 0 240,480,648,736 (Provision for Bad Debts) (636,873,143) 0 (475,319,009) 0 Current Discounted Value 0 0 0 0 1. Call Loans 0 0 164,100,000,000 0 2. Policy Loans 48,751,169,001 0 27,239,130,000 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 52,179,484,167 0 49,616,837,745 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 V. Other Assets 0 40,265,967,939 0 23,866,281,692 1. Non-trade Receivables 11,912,714,803 0 4,001,691,649 0 2. Interest Receivable 22,130,700,657 0 16,591,357,569 0 3. Dividends Receivable 4,727,868,289 0 3,273,232,474 0 4. Advance Expenses 0 0 0 0 5. Prepaid Withholding Tax 1,494,684,190 0 0 0 6. Derivative Assets 0 0 0 0 7. Miscellaneous 0 0 0 0 VI. General Account Debit 0 119,729,643,880 67,713,992,199 83,154,193,975 Total Assets 0 3,711,313,349,904 0 2,838,209,305,890 I. Other Liabilities 0 52,565,399,536 0 61,982,242,980 1. Accounts Payable 9,438,812,940 0 7,309,116,550 0 2. Accrued Expense 3,680,840,105 0 3,164,139,344 0 Total Liabilities & Reserves 0 3,711,313,349,904 0 2,838,209,305,890