HSBC 2011 Annual Report Download - page 316

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
4 – Net earned insurance premiums / 5 – Net insurance claims incurred / 6 – Operating profit
314
4 Net earned insurance premiums
Non-life
insurance
Life
insurance
(non-linked)
Life
insurance
(linked)
Investment
contracts
with DPF1 Total
US$m US$m US$m US$m US$m
2011
Gross earned premiums ................................................ 1,144 6,238 2,801 3,155 13,338
– gross written premiums ......................................... 1,175 6,207 2,804 3,155 13,341
– movement in unearned premiums ......................... (31) 31 (3) – (3)
Reinsurers’ share of gross earned premiums ................ (180) (278) (8) – (466)
– gross written premiums ceded to reinsurers .......... (182) (255) (8) – (445)
– reinsurers’ share of movement in unearned
premiums ............................................................... 2(23) – – (21)
964 5,960 2,793 3,155 12,872
2010
Gross earned premiums ................................................ 1,275 5,427 1,956 2,951 11,609
– gross written premiums ......................................... 1,192 5,357 1,956 2,951 11,456
– movement in unearned premiums ......................... 83 70 – – 153
Reinsurers’ share of gross earned premiums ................ (160) (289) (14) – (463)
– gross written premiums ceded to reinsurers .......... (172) (266) (8) – (446)
– reinsurers’ share of movement in unearned
premiums ............................................................... 12 (23) (6) – (17)
1,115 5,138 1,942 2,951 11,146
2009
Gross earned premiums ................................................ 1,572 5,218 1,427 2,774 10,991
– gross written premiums ......................................... 1,339 5,285 1,427 2,774 10,825
– movement in unearned premiums ......................... 233 (67) – – 166
Reinsurers’ share of gross earned premiums ................ (225) (278) (17) – (520)
– gross written premiums ceded to reinsurers .......... (215) (280) (11) – (506)
– reinsurers’ share of movement in unearned
premiums ............................................................... (10) 2 (6) – (14)
1,347 4,940 1,410 2,774 10,471
1 Discretionary participation features.
5 Net insurance claims incurred and movement in liabilities to policyholders
Non-life
insurance
Life
insurance
(non-linked)
Life
insurance
(linked)
Investment
contracts
with DPF1 Total
US$m US$m US$m US$m US$m
2011
Gross claims incurred and movement in liabilities ........... 435 5,729 2,462 3,005 11,631
– claims, benefits and surrenders paid ..................... 631 1,793 1,129 2,628 6,181
– movement in liabilities .......................................... (196) 3,936 1,333 377 5,450
Reinsurers’ share of claims incurred and
movement in liabilities ............................................ (85) (254) (111) – (450)
– claims, benefits and surrenders paid ..................... (81) (164) (56) – (301)
– movement in liabilities .......................................... (4) (90) (55) – (149)
350 5,475 2,351 3,005 11,181