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Business Scale
Profitability
Stability
Capital Adequacy
Balance Sheet
Profit & Loss Account
18th (current) period as at March 31th 2005
17th (precious) period as at March 31th 2004
Company Name: SK Life Insurance Co., Ltd.
Summary
(unit : Won,)
Accounts 18th period (current period)
1st Quarter		 17th period (previous period)
Amount Amount
Assets
I. Cash and Dues from Financial Institutions
26,374,672,767 51,900,205,844
1. Cash and Dues from Financial Institutions
26,323,208,344 51,814,292,599
2. Deposits for Futures and Options Transaction
37,713,758 72,634,945
3. Other Due from Financial Institutions
13,750,665 13,278,300
II. Trading Securities
599,916,432,448 471,489,448,398
1. Shares
- 770,900,000
2. Government Bonds
39,796,165,737 20,019,721,740
3. Special Purpose Bonds
152,240,165,614 60,330,493,072
4. Corporate Bonds
- 9,914,880,323
5. Beneficiary Interest in Investment Funds
351,117,452,368 244,075,593,214
6. Other Marketable Securities
56,762,648,729 136,377,860,049
III. Available for Sale Securities
711,496,061,418 532,109,853,417
1. Shares
41,380,240,550 38,234,487,000
2. Government Bonds
254,760,457,876 139,137,637,903
3. Special Purpose Bonds
150,868,856,568 101,184,979,997
4. Corporate Bonds
146,055,939,694 95,503,573,622
5. Foreign Marketable Securities
97,115,169,489 114,508,282,795
6. Other Marketable Securities
21,315,397,241 43,540,892,100
IV. Securities Owned to Maturity
657,672,406,963 450,722,799,954
1. Government Bonds
132,520,254,670 65,254,432,391
2. Special Purpose Bonds
211,926,438,286 181,329,483,004
3. Corporate Bonds
108,494,214,007 123,126,884,559
4. Foreign Marketable Securities
132,008,500,000 -
5. New Marketable Securities
72,723,000,000 81,012,000,000
V Loans
1,484,895,993,188 1,540,143,226,097
(Provision for Bad Debts)
(-)29,780,588,056 (-)27380322407
(Current Discounted Value)
_ (-)2204502253
1. Call Loans
68,900,000,000 -
2. Policy Loans
447,546,655,483 355,111,817,916
3. Loans Secured by Real-estate
638,607,631,861 729,619,899,509
4. Unsecured Loans
107,465,546,690 216,831,927,255
5. Loans on Acceptances and Guarantees
25,988,004,897 48,809,595,301
6. Other Loans
196,388,154,257 189,769,956,116
VI. Fixed Assets
137,402,408,031 162,195,469,524
(1) Investment Assets
1,427,041,630 -
1. Land
453,390,842 -
2. Buildings
1,081,834,208
Accumulated Depreciation
(-)108,183,420 973,650,788 -
(2) Tangible assets
113,810,070,032 148,277,429,273
1. Land
21,596,599,500 32,906,227,263
2. Buildings
86,954,538,867 105,975,336,386
Accumulated Depreciation
(-)8,251,768,849 78,702,770,018 (-)7,944,917,622 98,030,418,764
3. Structures
164,842,550 971,992,479
Accumulated Depreciation
(-)26,593,309 138,249,241 (-)141,072,099 830,920,380
4. Vehicles and Transportation Equipment
295,694,000 468,011,540
Accumulated Depreciation
(-)234,301,398 61,392,602 (-)391,575,941 76,435,599
5. Office Equipment
37,482,401,499 52,704,761,715
Accumulated Depreciation
(-)25,052,192,828 12,430,208,671 (-)38,841,835,566 13,862,926,149
6. Construction in Progress
- 720,114,874
7. Other Tangible Assets
880,850,000 1,850,386,244
(3) Intangible Assets
22,165,296,369 13,918,040,251
1. Software
1,139,738,473 270,417
2. Other Intangible Assets
21,025,557,896 13,917,769,834
VII. Other Assets
1,171,836,659,366 1,055,938,226,156
1. Insurance Receivables
37,269,639,906 39,592,984,129
2. Non-trade Receivables
3,303,679,902 16,647,911,714
(Provision for Bad Debts)
(-)1,129,955,984 2,173,723,918 (-)5,461,022,563 11,186,889,151
3. Deposits Received
37,650,271,409 38,522,170,388
4. Accrued Revenues
44,860,034,639 34,675,557,544
(Provision for Bad Debts)
(-)311,968,805 44,548,065,834 (-)349,063,519 34,326,494,025
5. Advance Expenses
1,117,688,424 1,032,970,889
6. Prepaid Income Tax
9,759,715,670 12,926,049,590
7. Prepayments
168,013,600 17,049,472,050
8. Derivative Assets
55,815,918,765 12,408,578,253
9. Subsidiary Asset Account
572,619,059,272 496,100,900,612
10. Acquisition Costs of New or Renewal Insurance Contracts
408,993,085,124 390,149,669,995
11. Subsidiary Debit Account
1,721,477,444 2,642,047,074
Total Assets
4,759,814,046,125 4,234,914,404,730
Liabilities
I. Insurance Reserve
3,747,546,630,681 3,360,423,378,728
Reserve Adjustment Account for Reinsurance Ceded
(-)2,915,502,565 (-)2,776,972,527
1. Premium Reserve
3,587,387,891,542 3,189,095,912,400
2. Unearned Premium Reserve
2,388,737,026 3,155,385,525
3. Reserve for Outstanding Claims
136,522,960,791 145,007,657,437
4. Reserve for Participating Policyholders' Dividends
21,247,003,077 23,164,385,121
A. Reserve for Interest Rate Difference Guarantee
8,057,861,316 8743205138
B. Dividend Reserves for Differences Due to Risk
10,122,841,152 11044749878
C. Dividend Reserves for Difference in Interest
3,046,359,905 3354176894
D. Special Reserve for Long-term Maintenance
19,940,704 22253211
5. Unallocated Divisible Surplus to Future Policyholders
38,245 38,245
II. Policy Reserve Adjustment
10,897,464,786 4,583,708,992
1. Gain on Valuation of Available-for-sale Securities
10,897,464,786 4,583,708,992
III. Other Liabilities
894,551,530,704 802,162,721,590
1. Borrowings
160,000,000,000 160,000,000,000
2. Insurance Claims Payable
31,502,444,393 35,896,225,459
3. Accounts Payable
192,053,400 2,046,073,410
4. Accrued Expense
30,292,813,745 24,257,845,378
5. Advances from Customers
- 267,919,906
6. Unearned Revenue
1,106,235,240 731,389,110
7. Deposits
4,871,050,255 6,920,748,757
8. Prepaid Insurance
3,216,885,333 3,514,283,551
9. Lease Deposits
5,471,715,600 5,184,753,600
10. Derivative Liabilities
84,291,231 2,707,056,784
11. Deferred Income Tax Liabilities
61,686,441,629 42,750,106,774
12. Subsidiary Liability Account
572,619,059,272