The Company as incorporated in Singapore prepares its financial statements based on the Singapore Financial Reporting Standards (SFRS). As a financial institution in Singapore, the Company is regulated by the Monetary Authority of Singapore (MAS) and operates based on a set of regulatory requirements namely, the Insurance Act and the Insurance Regulations as issued by the regulator. The above are done for the Company’s financial year ended 31 December for each year. As part of the overall AIA Group (the AIA Group), of which the ultimate parent company, AIA Group Limited is incorporated in Hong Kong, the Company also prepares financial information based on International Financial Reporting Standards (IFRS) and supplementary information for consolidation of results at the AIA Group level. This set of IFRS financial information is prepared based on the AIA Group’s financial year ended 30 November. The Company’s financial information based on IFRS and supplementary information for the financial year ended 30 November 2014 are as follows.