7.6.7Net finance income and expenses from (re)insurance contracts

See accounting policy W4.

The table on the next page shows the sources of finance income and expenses recognised in profit or loss and other comprehensive income in relation to the total net finance expenses from (re)insurance contracts.

Investment and (re)insurance finance result current period
2024Non-LifeLife GMMLife VFAOtherTotal
Investment income
Direct investment income4805,424114366,351
Net fair value gains (and losses)2031,0683,218-294,459
Net impairment (loss)/reversal on financial assets1--1
Amounts recognised in other comprehensive income57180-7243
Total investment income7406,6713,22941411,054
Net finance expenses from insurance contracts
Changes in fair value of underlying items of direct participating contracts---3,232--3,232
Effects of risk mitigation option--180-180
Interest accreted-312-2,023-24--2,360
Effect of changes in interest rates and other financial assumptions44-3234--275
Effect of measuring changes in estimates at current rates and adjusting the CSM at rates on initial recognition-4-67---71
Net foreign exchange loss-----
Total net finance expenses from insurance contracts-272-2,414-3,072--5,757
Net finance income from reinsurance contracts
Interest accreted119--20
Other-17--6
Total net finance income from reinsurance contracts1016--26
Total4784,2731574145,322
Investment and (re)insurance finance result prior period
2023Non-LifeLife GMMLife VFAOtherTotal
Investment income
Direct investment income3923,583101524,137
Net fair value gains (and losses)1862,2452,325-94,747
Net impairment (loss)/reversal on financial assets-1--23-22
Amounts recognised in other comprehensive income56162-10227
Total investment income6345,9912,3351309,089
Net finance expenses from insurance contracts
Changes in fair value of underlying items of direct participating contracts---2,288--2,288
Effects of risk mitigation option---239--239
Interest accreted-225-1,348-19--1,592
Effect of changes in interest rates and other financial assumptions-33-1,23210--1,255
Effect of measuring changes in estimates at current rates and adjusting the CSM at rates on initial recognition5164--169
Total net finance expenses from insurance contracts-253-2,416-2,536--5,205
Net finance income from reinsurance contracts
Interest accreted8-3--5
Other2-14---11
Total net finance income from reinsurance contracts10-16---6
Total3913,558-2011303,878

See section 7.6.5 for more information regarding net fair value gains and (losses).

Amounts recognised in other comprehensive income relate to revaluation of equity and debt instruments held at FVOCI.