ING Direct 2011 Annual Report Download - page 213
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Notes to the consolidated annual accounts of ING Group continued
Deferred acquisition costs (Restated)
Changes in deferred acquisition costs
Investment
contracts Life insurance
Non-life
insurance Total
Opening balance 1 January 2009 89 12,635 265 12,989
Capitalised 91,609 12 1,630
Amortisation and unlocking –11 –1,789 –12 –1,812
Effect of unrealised revaluations in equity –1,140 –1,140
Transfer to VOBA
Changes in the composition of the group –104 58 –231 –277
Exchange rate differences 17 –209 9–183
Disposal of portfolios 1 1
Closing balance 31 December 2009 011,165 43 11, 20 8
Insurance and investment contracts, Reinsurance contracts (Restated)
Insurance and investment contracts, reinsurance contracts
Provision net of reinsurance Reinsurance contracts Insurance and investment contracts
31 December
2009
1 January
2009
31 December
2009
1 January
2009
31 December
2009
1 January
2009
Provision for non-participating life policy liabilities 69,789 68,489 4,798 4,822 74,587 73,311
Provision for participating life policy liabilities 50,102 55,266 200 217 50,302 55,483
Provision for (deferred) profit sharing and rebates 1,600 147 3 2 1,603 149
Life insurance provisions excluding provisions
for risk of policyholders 121,491 123,902 5,001 5,041 126,492 128,943
Provision for life insurance for risk of policyholders 99,299 84,279 374 541 99,673 84,820
Life insurance provisions 220,790 20 8,181 5,375 5,582 226,165 213,763
Provision for unearned premiums
and unexpired risks 361 1,756 413 365 1,769
Reported claims provision 2,580 3,995 96 202 2,676 4,197
Claims incurred but not reported (IBNR) 493 1,345 5498 1,345
Claims provisions 3,073 5,340 101 202 3,174 5,542
Other insurance provisions
Total provisions for insurance contracts 224,224 215,277 5,480 5,797 229,704 221,074
Investment contracts for risk of company 5,896 9,804 5,896 9,804
Investment contracts for risk of policyholders 5,406 11,281 5,406 11,281
Total provisions for investment contracts 11, 3 02 21,085 11,302 21,085
Total 235,526 236,362 5,480 5,797 241,006 242,159
1 Who we are 2 Report of the Executive Board 3 Corporate governance 4 Consolidated annual accounts 5 Parent company annual accounts 6 Other information 7 Additional information
211ING Group Annual Report 2011