See accounting policies J, K, P and W.
| Gross | Of which reinsurance | ||
---|---|---|---|---|
| 31 December 2022 | 31 December 2021 | 31 December 2022 | 31 December 2021 |
Provision for unearned premiums | 310 | 307 | 4 | 8 |
Provision for claims (including IBNR) | 6,716 | 6,744 | 208 | 256 |
| | | | |
Non-life insurance contracts | 7,027 | 7,050 | 212 | 263 |
| | | | |
Life insurance contracts excluding own pension contracts | 22,606 | 30,747 | 145 | 154 |
| | | | |
Total liabilities arising from insurance contracts | 29,633 | 37,797 | 357 | 417 |
| Gross | Of which reinsurance | ||
---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 |
Provision for unearned premiums | | | | |
At 1 January | 307 | 323 | 8 | 19 |
Changes in provision for unearned premiums | 4 | -16 | -3 | -11 |
Provision for unearned premiums as at 31 December | 310 | 307 | 4 | 8 |
| | | | |
Provision for claims (including IBNR) | | | | |
At 1 January | 6,744 | 6,522 | 256 | 307 |
Claims paid | -2,866 | -2,595 | -112 | -73 |
Changes in provision for claims | 3,276 | 3,064 | 63 | 23 |
Changes in shadow accounting through equity | -159 | -179 | 0 | 0 |
Changes in shadow accounting through income | -278 | -67 | 0 | 0 |
Provision for claims (including IBNR) as at 31 December | 6,716 | 6,744 | 208 | 256 |
| | | | |
Non-life insurance contracts as at 31 December | 7,027 | 7,050 | 212 | 263 |
| 31 December 2022 | 31 December 2021 |
---|---|---|
Claims reported | 4,229 | 4,516 |
IBNR | 2,487 | 2,228 |
| | |
Total provisions for claims | 6,716 | 6,744 |
| Gross | Of which reinsurance | ||
---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 |
At 1 January | 30,748 | 34,614 | 156 | 160 |
Premiums received / paid | 668 | 696 | 0 | 0 |
Regular interest added | 566 | 566 | 3 | 3 |
Realised gains and losses | -303 | 263 | 0 | 0 |
Amortisation of realised gains | -279 | -313 | 0 | 0 |
Benefits | -1,475 | -1,622 | -9 | -11 |
Technical result | -96 | -69 | -3 | 3 |
Release of cost recovery | -118 | -124 | 0 | 0 |
Changes in shadow accounting through equity | -1,600 | -1,081 | 0 | 0 |
Changes in shadow accounting through income | -5,489 | -2,183 | 0 | 0 |
Other changes | -13 | 0 | 0 | 0 |
At 31 December | 22,610 | 30,748 | 147 | 156 |
| | | | |
Interest margin participation to be written down | | | | |
At 1 January | -13 | -11 | -2 | -2 |
Write-down recognised in profit or loss | 2 | 1 | 0 | 0 |
Other changes | -2 | -3 | 0 | 0 |
At 31 December | -13 | -13 | -2 | -2 |
| | | | |
Provision for discretionary profit sharing, bonusses and discounts | | | | |
At 1 January | 12 | 12 | 0 | 0 |
Profit sharing, bonuses and discounts granted in the financial year | -2 | 0 | 0 | 0 |
At 31 December | 10 | 12 | 0 | 0 |
| | | | |
Total life insurance contracts at 31 December | 22,606 | 30,747 | 145 | 154 |
In accordance with a.s.r.’s accounting policy, the LAT is performed and the shadow accounting adjustments related to instruments with a revaluation reserve amount below cost that are made to the level that the LAT will not get triggered (i.e. shows a positive margin). The insurance liabilities are deemed to be adequate following the performance of the LAT taking into account the UFR of 3.45% for 2022 (2021: 3.60%). The changes in shadow accounting through equity in the amount of € -1,600 million include a reversal of shadow accounting related to instruments with a revaluation reserve amount below cost for an amount of € 1,433 million. See accounting policy A.
In 2022, technical result increased, reflecting a positive impact of further optimisation of the strategic asset mix in the investment portfolio including renewable energy investments. Furthermore, mortality results increased compared to 2021, partly due to excess mortality in some portfolios. Disability result in pensions also improved, partly due to an improved estimation of claims. This was partly offset by a sharp decline in equity markets and considerably higher interest rates, resulting in strengthened provisions for unit linked liabilities with guarantees by € 39 million.
The table below is a ten-year summary of movements in gross cumulative claims in connection with the Non-life portfolio for the period from 2013 to 2022.
| Claims year | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
31 December 2022 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | Total |
At year end | | | | | | | | | | | |
1st claim year | 2,109 | 2,020 | 2,067 | 2,256 | 2,275 | 2,383 | 2,453 | 2,652 | 3,065 | 3,356 | |
2014 | 2,061 | | | | | | | | | | |
2015 | 2,047 | 1,962 | | | | | | | | | |
2016 | 2,043 | 1,965 | 2,026 | | | | | | | | |
2017 | 2,057 | 1,955 | 2,057 | 2,271 | | | | | | | |
2018 | 2,051 | 1,948 | 2,066 | 2,315 | 2,322 | | | | | | |
2019 | 2,037 | 1,938 | 2,055 | 2,299 | 2,382 | 2,375 | | | | | |
2020 | 2,019 | 1,913 | 2,050 | 2,318 | 2,387 | 2,452 | 2,471 | | | | |
2021 | 2,002 | 1,898 | 2,030 | 2,297 | 2,354 | 2,513 | 2,536 | 2,628 | | | |
2022 | 2,006 | 1,889 | 2,019 | 2,269 | 2,328 | 2,494 | 2,539 | 2,659 | 3,063 | | |
Gross claims as at 31 December 2022 | 2,006 | 1,889 | 2,019 | 2,269 | 2,328 | 2,494 | 2,539 | 2,659 | 3,063 | 3,356 | |
Cumulative gross paid claims | 1,824 | 1,712 | 1,787 | 1,971 | 1,966 | 1,986 | 1,928 | 1,920 | 2,116 | 1,481 | |
Gross outstanding claims liabilities (including IBNR) | 182 | 178 | 232 | 298 | 362 | 508 | 610 | 739 | 948 | 1,876 | 5,931 |
Claims liabilities prior years | | | | | | | | | | | 839 |
Shadow accounting | | | | | | | | | | | -54 |
| | | | | | | | | | | |
Total claim liabilities | | | | | | | | | | | 6,716 |
| Claims year | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
31 December 2021 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | Total |
At year end: | | | | | | | | | | | |
1st claims year | 2,213 | 2,109 | 2,020 | 2,067 | 2,256 | 2,275 | 2,383 | 2,453 | 2,652 | 3,065 | |
2013 | 2,121 | | | | | | | | | | |
2014 | 2,127 | 2,061 | | | | | | | | | |
2015 | 2,110 | 2,047 | 1,962 | | | | | | | | |
2016 | 2,111 | 2,043 | 1,965 | 2,026 | | | | | | | |
2017 | 2,124 | 2,057 | 1,955 | 2,057 | 2,271 | | | | | | |
2018 | 2,109 | 2,051 | 1,948 | 2,066 | 2,315 | 2,322 | | | | | |
2019 | 2,091 | 2,037 | 1,938 | 2,055 | 2,299 | 2,382 | 2,375 | | | | |
2020 | 2,088 | 2,019 | 1,913 | 2,050 | 2,318 | 2,387 | 2,452 | 2,471 | | | |
2021 | 2,098 | 2,002 | 1,898 | 2,030 | 2,297 | 2,354 | 2,513 | 2,536 | 2,628 | | |
Gross claims as at 31 December 2021 | 2,098 | 2,002 | 1,898 | 2,030 | 2,297 | 2,354 | 2,513 | 2,536 | 2,628 | 3,065 | |
Cumulative gross paid claims | 1,902 | 1,796 | 1,683 | 1,748 | 1,929 | 1,909 | 1,913 | 1,842 | 1,785 | 1,366 | |
Gross outstanding claims liabilities (including IBNR) | 196 | 206 | 215 | 281 | 368 | 445 | 601 | 693 | 842 | 1,699 | 5,546 |
Claims liabilities prior years | | | | | | | | | | | 803 |
Shadow accounting | | | | | | | | | | | 394 |
| | | | | | | | | | | |
Total claim liabilities | | | | | | | | | | | 6,744 |
For the acquired entities gross claims in the claims development table includes claims from the original date of the claim.
| 2022 | 2021 |
---|---|---|
At 1 January | 14,566 | 13,137 |
Premiums received | 1,098 | 1,042 |
Interest added | 85 | 85 |
Benefits | -842 | -1,362 |
Effect of fair value changes related to financial assets | -1,939 | 1,636 |
Technical result | 31 | 24 |
Release of cost recovery | -69 | -75 |
Other changes | 76 | 80 |
At 31 December | 13,007 | 14,566 |
At year-end 2022, the liabilities included a guarantee provision for a carrying amount of € 84 million (2021: € 46 million) and a provision related to unit-linked insurance contracts and pension contracts for a carrying amount of € 42 million (2021: € 43 million). These provisions relate to compensation for the cost of these contracts.
An amount of € 119 million (2021: € 89 million) of the liabilities arising from insurance contracts on behalf of policyholders is related to the a.s.r. DC pension plans.
Other changes relates to the transfer of insurance contracts to insurance contracts on behalf of policyholders due to new product features provided.
Liabilities arising from insurance contracts on behalf of policyholders also include liabilities where conversions and switches have occurred in the insurance contract administration. The insurance contract still meets the definition of and continues to be classified as an insurance contract on behalf of policyholders and therefore continues to be included in the insurance contracts on behalf of policyholders administration. However, as a result of the conversion and switches, liabilities arising from insurance contracts on behalf of policyholders amounting to € 2,999 million (2021: € 2,919 million) are, in the classification and subsequent presentation, not backed directly with investments on behalf of policyholders. The related investments are included and presented in investments (available for sale) and loans and receivables.