HSBC 2010 Annual Report Download - page 274

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
4 – Net earned insurance premiums / 5 – Net insurance claims incurred / 6 – Net operating income
272
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
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
2008
Gross earned premiums ................................................ 1,834 6,086 1,825 2,802 12,547
– gross written premiums ......................................... 1,776 6,257 1,825 2,802 12,660
– movement in unearned premiums ......................... 58 (171) – – (113)
Reinsurers’ share of gross earned premiums ................ (263) (851) (583) – (1,697)
– gross written premiums ceded to reinsurers .......... (260) (878) (564) – (1,702)
– reinsurers’ share of movement in unearned
premiums ............................................................... (3) 27 (19) – 5
1,571 5,235 1,242 2,802 10,850
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
2010
Gross claims incurred and movement in liabilities ........... 625 5,108 2,520 3,716 11,969
– claims, benefits and surrenders paid ..................... 815 1,355 507 2,023 4,700
– movement in liabilities .......................................... (190) 3,753 2,013 1,693 7,269
Reinsurers’ share of claims incurred and
movement in liabilities ............................................ (100) (201) 99 – (202)
– claims, benefits and surrenders paid ..................... (114) (143) (45) – (302)
– movement in liabilities .......................................... 14 (58) 144 – 100
525 4,907 2,619 3,716 11,767