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8 AWEMainta Diaranson, 30 September 2020 Diaranson, 30 September 2020 AWEMainta 9

In-
On December 22, 2017, the U.S. government enacted comprehen-
the
reduces
modifies Reform
Summary Statutory Statements of Admitted Assets, Liabilities, and Capital and Surplus
significantly sive tax legislation commonly referred to as the Tax Cuts and Jobs legislation Tax amended. as the corporate tax rate from a graduated set of rates with a max- imum 35% tax rate to a flat 21% tax rate effective January 1, 2018. Deferred tax assets can only be admitted in an amount calculated under SSAP No. 101. The amount admitted is equal to the sum of (a) federal income taxes paid

(5,509)
973
127,984
(5,895)
1,820
3,736
13,666
113,760
192,421
10,518
171,276
1,579
5,140
867
2,092
730
36,585
64,001
12,699
1,389
243
1,498
18,331
2019 2018 133,015 125,304 28,429 13,294 315,902 309,804 40,974 26 118,908 138,528 315,902 309,804 322,537 265,973 1,337 1,503 260,898 185,031 91,637 276,668 (15,770) 4,837 5,474 (6,889) (7,874) (5) Federal Income Taxes
Reinsurance commisions payable 19,131 9,550
BUPA INSURANCE COMPANY
As of December 31, 2019 and 2018 (In USD ‘000)
Summary Statutory Statements of Income (Tax Act ternal observable the Company. provisions provi- com- consid- historical medi- factors. and low- to Manage- and to disclose.
$ Years ended December 31, 2019 and 2018 (In USD ‘000) Change in unearned premium reserves and reserve for rate credits (10,146) (6,578) 984 386 are as and claims are estimates that changes, relevant 2019 during attributed reasonable
1,536 1 1,601 123,969 1,696 4,521 1,066 3,350 686 127,984 (19,594) $ BUPA INSURANCE COMPANY $ Aggregate write-ins for other healthcare-related revenue 313,728 215,531 112,411 (14,214) 0 832 (51) Net loss from operations before federal income taxes reflect market data obtained from independent sour

Admitted Assets Bonds $ 10,538 Common stocks Cash, cash equivalents, and short-term investments Investment income due and accrued 1,765 Premiums due and unpaid Amounts receivable under reinsurance contracts 0 Deferred tax asset – net Receivable from subsidiaries and affiliates,754 Loan receivable from subsidiaries and affiliates 267 Other assets Total Admitted Assets $ Liabilities and Capital and Surplus $ Claims unpaid Aggregate life policy reserves Unearned health premium reserves Premium

relat- Taxes. all for er, cal er

and balances Income 101,

Summary mary statutory financial statements are consistent, in all material respects, with the audited statutory financial statements based on our procedures, which were conducted in accordance with auditing standards generally accepted in the United States of America. The procedures consisted principally of comparing the summary statu- tory financial statements with the related information in the audit- ed statutory financial statements from which the summary statutory financial statements have been derived, and evaluating whether the summar

on they have been derived, on the basis described in note 1. December 31, 2019 and 2018 includes annuity reserves. determines accordance on the provisions in paragraph 11 of SSAP No. 101. the contract meets the requirements for reinsurance accounting. 100% of both premiums and losses written by Cruz Blanca. contracts meet the requirements for reinsurance accounting. assets by a charge to statutory surplus. (m) Fair Value of Financial Instruments (n) Fair Value Measurement

Report Opinion Miami, Florida September 29, 2020 (i) Claims Unpaid (j) Income Taxes Company The in disclosures (k) Reinsurance (l) Nonadmitted Assets

Auditors’ Financial Statements sum- the which be can of from www.bupasalud.com ed Assets Invested the including stocks, are subsidiary, are stocks or bonds rec- are losses recognized not 2018. or 2019 participating annuities,

Independent The Board of Directors BUPA Insurance Company: The accompanying summary statutory financial statements, which comprise the summary statutory statements of admitted assets, lia- bilities, and capital and surplus as of December 31, 2019 and Decem- ber 31, 2018, the summary statutory statements of income, for the years then ended, and the related notes, are derived from the audited statutory financial statements of BUPA Insurance Company as of and for the years ended December 31, 2019 and December 31, 2018. We expressed an unmodified audit opinion on the statutory ba

BUPA Insurance Company. Financial Statements Auditors’ Responsibility Statements statutory audited The financial statutory mary the at accessed readily (b) Organization (c) Basis of Presentation scribed by insurance regulators. (d) Use of Estimates Cash Cash, (e) or gains Unrealized the of stock common any If surplus. signed than other deemed realized as ognized temporary than other (f) Investment in Mexican Subsidiary t