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MAS Insurance Company Return · FY2021

Allianz Singapore

As filed with the Monetary Authority of Singapore. This page mirrors the insurer's own statutory return: the balance sheet (Form A1), the revenue account (Form A2) and capital adequacy (Form A4). Every figure is broken out by insurance fund, with the company total in the last column — a fund figure is not the company's. Amounts in Singapore dollars, exactly as filed.

Financial yearFY2025FY2024FY2023FY2022FY2021FY2020

At a glance

Company total, FY2021
Total assets
S$83.4m
Form A1, line 27
Policy liabilities
S$26.9m
Form A1, line 28
Net assets
S$37.2m
assets − liabilities
Capital adequacy
367.9%
Form A4 · RBC2 · min 100%
Gross premiums
S$33.3m
Form A2, line 1
Net premiums
S$28.9m
of reinsurance
Investment income
S$38k
Form A2, line 22
Net income
S$-13.9m
after tax

Capital adequacy

Form A4, FY2021
Capital adequacy ratio
367.88%
RBC2 · MAS requires at least 100%
Financial resources
S$29.7m
capital available
Total risk requirements
S$8.1m
capital MAS requires

Financial resources ÷ total risk requirements: Allianz Singapore held 3.68× the capital MAS requires against its risks.

Balance sheet

Form A1 — statement of assets and liabilities
LineNon-insuranceTotal
Assets
Equity securities5S$2.0mS$19.0m
Debt securities9——
Cash and deposits10S$8.1mS$49.4m
Other investments11——
Loans15——
Property, plant and equipment18—S$813k
Outstanding premiums19—S$8.5m
Reinsurers’ share of policy liabilities21—S$1.2m
Other assets26S$1S$4.2m
Total assets27S$10.2mS$83.4m
Liabilities
Policy liabilities (gross of reinsurance)28—S$26.9m
Outstanding claims29—S$1.5m
Financial liabilities34——
Other liabilities38S$108kS$6.1m
Total liabilities39S$108kS$46.2m
Net assets & equity
Net assets (assets − liabilities)40S$10.1mS$37.2m
Paid-up capital41S$87.9mS$87.9m
Surplus / retained earnings42S$-77.8mS$-50.7m
Other reserves43——
Total equity44S$10.1mS$37.2m

Profit & loss

Form A2 — revenue account
LineNon-insuranceTotal
Premiums
Gross premiums1—S$33.3m
Less: outward reinsurance premiums2—S$4.5m
Net premiums written3—S$28.9m
Claims & policy liabilities
Gross claims settled4—S$3.6m
Less: reinsurance recoveries5—S$174k
Net claims settled6—S$3.4m
Increase / (decrease) in policy liabilities7—S$20.4m
Expenses
Management expenses16S$143kS$22.3m
Distribution expenses17—S$4.7m
Other expenses19S$13.8mS$14.6m
Total outgo20S$14.0mS$62.2m
Result
Other income21S$22.7mS$22.7m
Net investment income22S$4kS$38k
Net income before tax23S$8.7mS$-13.9m
Taxation24——
Net income after tax25S$8.7mS$-13.9m

Capital across the years

Capital adequacy, as filed
YearCARFinancial resourcesRisk requirementsBasis
FY2020626.08%S$13.6mS$2.2mRBC2
FY2021367.88%S$29.7mS$8.1mRBC2
FY2022223.82%S$44.6mS$19.9mRBC2
FY2023252.36%S$83.3mS$33.0mRBC2
FY2024248.84%S$103.9mS$41.7mRBC2
FY2025283.31%S$121.1mS$42.8mRBC2

Business written & persistency

MAS annual statistics, FY2024

This section comes from a different MAS publication — the annual insurance statistics — which covers the Singapore Insurance Fund onlyand runs a year behind the statutory return above. Amounts are in S$'000, and the figures are not directly comparable with the company totals above.

2-yr persistency
100.0%
as filed (table L11)
Policies in force
0
Surrenders
0
Lapses
0

Individual business by product type

CategoryNew policiesNew annual prem.Policies in force
Whole life0S$0k0
Endowment0S$0k0
Term0S$0k0
Accident & health0S$0k0
Annuity0S$0k0
Other0S$0k0

Source: Monetary Authority of Singapore. Balance sheet, revenue account and capital adequacy from Allianz Singapore's Insurance Company Return for FY2021 (Forms A1, A2 and A4); business mix and persistency from the MAS annual insurance statistics for FY2024. All figures are as filed by the insurer and are reproduced without adjustment. This site is not affiliated with MAS.