ClearView Annual report 2024

Notes to the Financial Statements

Capital position

Statutory fund No. 1 Australian non- participating

Statutory fund No. 2 Australian non- participating

Statutory fund No. 4 Australian non- participating

ClearView Life Assurance Limited

Shareholder’s Fund

2024 2024 $'000 $'000 $'000 $'000 $'000 2024 2024 2024

Net Assets (Common Equity Tier 1 Capital)

399 372,900

663

7,837 381,800

—

Intangibles adjustments 1

Net tangible assets after intangible adjustments

399 372,900

663

7,837 381,800

Capital base adjustments

—

Deferred tax assets Contract liabilities

— (37,406) — (239,218) — 30,000 399 126,276

(16)

(2,332)

(39,754)

— —

— (239,218) — 30,000

Tier 2 capital

647

5,506 132,827

Regulatory capital base

Prescribed Capital Amount (PCA) Available Enterprise Capital (AEC)

(3)

(20,643)

(7)

(3,724)

(24,376)

396 105,633

640 93.8

1,782 108,451

148.6

6.1

1.5

5.4

Capital Adequacy Multiple

Prescribed capital amount comprises of: Insurance Risk

—

Asset Risk

(2)

(6,638)

(4)

(50)

(6,694)

Asset Concentration Risk

—

Operational Risk

— (11,160)

(1)

(3,652)

(14,813)

Aggregation Benefit

—

Combined Stress Scenario Adjustment

(1)

(2,845)

(2) (7)

(21)

(2,869)

(3)

(20,643)

(3,724)

(24,376)

Prescribed Capital Amount

1 Intangible adjustments relate to capitalised software.

Statutory fund No. 1 Australian non- participating

Statutory fund No. 2 Australian non- participating

Statutory fund No. 4 Australian non- participating

ClearView Life Assurance Limited

Shareholder’s Fund

2023 2023 $'000 $'000 $'000 $'000 $'000 2023 2023 2023

Net Assets (Common Equity Tier 1 Capital)

393 458,669

580

9,744 469,386

—

— (2,882)

(2,882)

Intangibles adjustments 1

Net tangible assets after intangible adjustments

393 458,669

580

6,862 466,504

Capital base adjustments Deferred tax assets Deferred acquisition costs

— (2,120) — (386,924) — 30,000

— — —

(68)

(2,188)

— (386,924) — 30,000

Tier 2 capital

393

99,624 (18,576)

580

6,793 107,391

Regulatory capital base

Prescribed Capital Amount (PCA) Available Enterprise Capital (AEC)

(3)

(7)

(3,444)

(22,031)

389 81,048

573 79.2

3,350 85,360

114.2

5.4

2.0

4.9

Capital Adequacy Multiple

Prescribed capital amount comprises of: Insurance Risk

—

Asset Risk

(3)

(5,724)

(7)

(81)

(5,815)

Asset Concentration Risk

—

Operational Risk

— (10,399)

(1)

(3,363)

(13,763)

Aggregation Benefit

—

(3)

(18,576)

(7)

(3,444)

(22,031)

Prescribed Capital Amount

1 Intangible adjustments relate to capitalised software.

150

ClearView Annual Report 2024