IAG Annual Report 2015 - page 86

NOTE 25. NON-CONTROLLING INTERESTS
A. SUMMARISED FINANCIAL INFORMATION
Set out below is summarised financial information for the material non-controlling interests, being Insurance Manufacturers of
Australia Pty Limited of which the Group's beneficial interest is 70%. The amounts disclosed are before intercompany eliminations.
INSURANCE
MANUFACTURERS OF
AUSTRALIA PTY LIMITED
2015
2014
$m
$m
I. Summarised statement of comprehensive income
Net premium revenue
2,686
2,633
Profit/(loss) after tax attributable to IAG shareholders
237
238
Profit/(loss) after tax attributable to non-controlling interest
101
102
Other comprehensive income
3
2
Total comprehensive income
341
342
II. Summarised balance sheet
Total assets
3,498
3,459
Total liabilities
(2,845)
(2,716)
Net assets
653
743
Carrying amount of non-controlling interest
196
223
III. Summarised cash flow
Net cash flows from operating and investing activities
444
204
Dividends paid to other Group entities
(302)
(189)
Dividends paid to non-controlling interest
(129)
(81)
Total net cash flows
13
(66)
NOTE 26. INVESTMENT IN JOINT VENTURE AND ASSOCIATES
A. INTERESTS IN JOINT VENTURE AND ASSOCIATES
Summarised information of interests in material joint venture and associates accounted for on an equity basis is as follows:
CONSOLIDATED
TABLE
NOTE
REPORTING
DATE
COUNTRY OF
INCORPORATION
/FORMATION PRINCIPAL ACTIVITY
CARRYING
VALUE
OWNERSHIP
INTEREST
2015 2015
2014
$m %
%
AmGeneral Holdings Berhad
(AmGeneral)
A 31 March
Malaysia
Insurance underwriting
358 49.00
49.00
SBI General Insurance Company
Limited (SBI General)
A 31 March
India
Insurance underwriting
118 26.00
26.00
Bohai Property Insurance
Company Ltd (Bohai Insurance)
B 31 December China
Insurance underwriting
67 20.00
20.00
Other
18
561
TABLE NOTE
A
B
Audited by accounting firms not affiliated with KPMG.
Audited by overseas KPMG firms.
None of the associates are listed on a stock exchange. Those entities that do not have a 30 June financial year end are equity
accounted using financial information for the reporting year to 30 June which includes, at least in part, unaudited management
results.
There is no unrecognised share of losses arising from the above joint venture or associates, both for the reporting year and
cumulatively.
86 IAG ANNUAL REPORT 2015
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