OPBT Rollforward Analysis
Summary
| Fee Based Income | Insurance Operating Income | |
| Beginning | – | |
| Last Year One-off | – | |
| Claims Experience | Actual claim profits – Expected claim profits, from basic and UDR products | Actual claim profits – Expected claim profits, from PPR products |
| Expense Experience | Actual expense profits – Expected expense profits | |
| Lapse and Persistency Experience | Anything else that are difficult to explain | |
| Profit Growth from In-force | Expected profit from in-forced policies (separated by previous cohorts) | |
| Profit from New Business | Expected profit from new policies (separated by current cohort) | |
| Current Year One-off (Technical Initiatives) | – | |
| Current Year One-off (Others) | – | |
| Ending | – | |
| Par and Spread | |
| Beginning | – |
| Last Year One-off | – |
| Business Growth | – |
| Change in LTIRA | – |
| Change in Fixed Income Yield | – |
| Change in Asset Mix | – |
| Change in Interest Required on Liability | Expected interest required |
| Current Year One-off (Technical Initiatives) | – |
| Current Year One-off (Others) | – |
| Ending | – |
| Return on Surplus Assets | |
| Beginning | – |
| Last Year One-off | – |
| Normalized Surplus Growth | – |
| Market Fluctuation | – |
| Change in LTIRA | – |
| Change in Fixed Income Yield | – |
| Change in Asset Mix | – |
| Current Year One-off (Technical Initiatives) | – |
| Current Year One-off (Others) | – |
| Ending | – |
Claims Experience
| Claim Profit | Fee Based Income | Insurance Operating Income | |
|
(+) (Actual – Expected) COI (Basic + UDR) |
|||
| (-) (Actual – Expected) Claims | (-) Claims (Basic, lead to decrement) | ||
| (-) Claims (Basic, not lead to decrement) | |||
| (-) Claims (UDR) | |||
| (+) (Actual – Expected) Release in reserve from decrement | |||
| (+/-) (Actual – Expected) Net amortization attributed to claims margin in gross profit (AGP – EGP) | |||
| (+/-) Retrospective true-up impact attributed to claims variance | |||
| (+) Increase In Mort & Morb Reserve | |||
| (-) (Actual – Expected) Reinsurance profits | (-) Outward reinsurance | ||
| (+) Outward reinsurance claims | |||
Expense Experience
| Expense Profit | Fee Based Income | Insurance Operating Income |
|
(+) (Actual – Expected) Premium charges |
||
|
(+) (Actual – Expected) Foundation charges |
||
| (+) (Actual – Expected) Fund management fees | ||
| (+) (Actual – Expected) Policy fees & policy admin fees | ||
| (-) Ultimate premium charges | ||
| (-) Ultimate commissions | ||
| (-) (Actual – Expected) Maintenance expenses | ||
| (-) (Actual – Expected) Non-deferrable & overhead expenses | ||
| (+) (Actual – Expected) Net amortization attributed to expense margin in gross profit (AGP – EGP) | ||
| (+) Retrospective true-up impact attributed to expense variance | ||
| (+) (Actual – Expected) Net amortization attributed to flooring margin in gross profit (AGP – EGP) | ||
| (+) Retrospective true-up impact attributed to flooring variance | ||
| (+) Finance costs |
Lapse and Persistency Experience
| Lapse and Persistency Experience | Fee Based Income | Insurance Operating Income |
|
(+) (Actual – Expected) Surrender charges |
||
| (+) (Actual – Expected) Annual premium hold (APH) charges | ||
| (+) (Actual – Expected) Reserve release | ||
| (+) (Actual – Expected) Net amortization attributed to surrender margin in gross profit (AGP – EGP) | ||
| (+) Retrospective true-up impact attributed to surrender variance |
Investment Gains / Losses
| Investment Profit | Fee Based Income | Insurance Operating Income |
|
(+) (Actual – Expected) Investment spreads |
||
| (+) (Actual – Expected) Fund house rebates | ||
| (-) (Actual – Expected) Interest credited to other policyholder’s account (DA/CA/Premium deposit) | ||
| (+/-) (Actual – Expected) Net amortization attributed to investment margin in gross profit (AGP – EGP) | ||
| (+/-) Retrospective true-up impact attributed to investment variance |
Expected Profits
| Expected Profits |
Fee Based Income | Insurance Operating Income | |
|
(+) Expected profits |
(+) Expected COI (basic & UDR) |
||
|
(+) Expected premium charges |
|||
|
(+) Expected foundation charges |
|||
|
(+) Expected fund management fees |
|||
|
(+) Expected policy fees & policy admin fees |
|||
|
(+) Expected surrender charges |
|||
|
(+) Expected annual premium hold (APH) charges |
|||
|
(+) Expected investment spreads |
|||
|
(+) Fund house rebates |
|||
|
(-) Expected claims (basic & UDR) |
|||
|
(-) Ultimate premium charges |
|||
|
(-) Ultimate commissions |
|||
|
(-) Expected Maintenance expenses |
|||
| (+) Expected Premium paying rider (PPR) gain/loss | (+) Expected premiums | ||
| (-) Expected claims | |||
| (+) Increase in policy reserves | |||
| (+) Opening balance adjustments | |||
| (+) One-Off | |||