HSBC 2007 Annual Report Download - page 421
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419
29 Other liabilities
HSBC HSBC Holdings
2007 2006 2007 2006
US$m US$m US$m US$m
Amounts due to investors in funds consolidated
by HSBC ................................................................... 3,548 966 – –
Obligations under finance leases (Note 42) .................. 703 707 – –
Dividend declared and payable by HSBC Holdings .... 1,393 1,507 1,393 1,507
Endorsements and acceptances ..................................... 12,248 9,577 – –
Other liabilities ............................................................. 17,121 15,262 12 10
35,013 28,019 1,405 1,517
30 Liabilities under insurance contracts
Gross
Reinsurers’
share Net
US$m US$m US$m
2007
Non-life insurance liabilities
Unearned premium provision .......................................................................... 1,279 (181) 1,098
Notified claims ................................................................................................. 1,063 (380) 683
Claims incurred but not reported ..................................................................... 420 (49) 371
Other ................................................................................................................ 92 (43) 49
2,854 (653) 2,201
Life insurance policyholders’ liabilities
Life (non-linked) .............................................................................................. 14,370 (605) 13,765
Investment contracts with discretionary participation features1 ...................... 18,983 – 18,983
Life (linked) ..................................................................................................... 6,399 (57) 6,342
39,752 (662) 39,090
Total liabilities under insurance contracts ....................................................... 42,606 (1,315) 41,291
2006
Non-life insurance liabilities
Unearned premium provision .......................................................................... 1,262 (176) 1,086
Notified claims ................................................................................................. 949 (355) 594
Claims incurred but not reported ..................................................................... 460 (58) 402
Other ................................................................................................................ 268 (76) 192
2,939 (665) 2,274
Life insurance policyholders’ liabilities
Life (non-linked) .............................................................................................. 11,026 (1,046) 9,980
Investment contracts with discretionary participation features1 ...................... 20 – 20
Life (linked) ..................................................................................................... 3,685 (58) 3,627
14,731 (1,104) 13,627
Total liabilities under insurance contracts ....................................................... 17,670 (1,769) 15,901
1 Though investment contracts with discretionary participation features are financial instruments, HSBC continued to treat them as
insurance contracts as permitted by IFRS 4.