HSBC 2005 Annual Report Download - page 308
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HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
306
28 Other liabilities
HSBC HSBC Holdings
2005 2004 2005 2004
US$m US$m US$m US$m
Amounts due to investors in funds consolidated by
HSBC ...................................................................... 683 –––
Current taxation ........................................................... 1,640 1,648 ––
Obligations under finance leases ................................. 639 695 ––
Dividend declared and payable by HSBC Holdings .... 1,193 1,189 1,193 1,189
Endorsements and acceptances ................................... 8,033 –––
Other liabilities ............................................................ 14,327 17,049 10 9
26,515 20,581 1,203 1,198
Obligations under finance leases falling due:
– within 1 year ........................................................ 25 25 ––
– between 1 and 5 years .......................................... 54 40 ––
– over 5 years .......................................................... 560 630 ––
639 695 ––
29 Liabilities under insurance contracts issued
2005
Gross
Reinsurers’
share Net
US$m US$m US$m
Non-life insurance liabilities
Unearned premium provision ....................................................................... 1,346 (202) 1,144
Notified claims ............................................................................................. 872 (335) 537
Claims incurred but not reported .................................................................. 424 (130) 294
Other ............................................................................................................ 229 (2) 227
2,871 (669) 2,202
Life insurance policyholders’ liabilities
Life (non-linked) .......................................................................................... 8,369 (807) 7,562
Investment contracts with discretionary participation features1 .................... 9–9
Life (linked) .................................................................................................. 2,895 (69) 2,826
11,273 (876) 10,397
Total liabilities under insurance contracts issued ......................................... 14,144 (1,545) 12,599
1Though investment contracts with discretionary participation features are financial instruments, HSBC continued to treat them as
insurance contracts as permitted by IFRS 4.