HSBC 2012 Annual Report Download - page 479

477
Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
Gross
Reinsurers’
share Net
US$m US$m US$m
2011
Unearned premium reserve (‘UPR’)
At 1 January ................................................................................................................ 727 (129) 598
Changes in UPR recognised as (income)/expense ..................................................... 31 (2) 29
Gross written premiums ......................................................................................... 1,175 (182) 993
Gross earned premiums .......................................................................................... (1,144) 180 (964)
Exchange differences and other movements .............................................................. (137) 19 (118)
At 31 December .......................................................................................................... 621 (112) 509
Notified and incurred but not reported claims
At 1 January ................................................................................................................ 1,624 (305) 1,319
Notified claims ....................................................................................................... 879 (230) 649
Claims incurred but not reported ............................................................................ 745 (75) 670
Claims paid in current year ......................................................................................... (631) 81 (550)
Claims incurred in respect of current year ................................................................. 481 (99) 382
Claims incurred in respect of prior years ................................................................... (46) 14 (32)
Disposals ..................................................................................................................... (317) 129 (188)
Exchange differences and other movements .............................................................. (152) 38 (114)
At 31 December .......................................................................................................... 959 (142) 817
Notified claims ....................................................................................................... 510 (91) 419
Claims incurred but not reported ............................................................................ 449 (51) 398
Other ........................................................................................................................... 55 4 59
Total non-life insurance liabilities .............................................................................. 1,635 (250) 1,385
Life insurance liabilities to policyholders
Gross
Reinsurers’
share Net
US$m US$m US$m
2012
Life (non-linked)
At 1 January ................................................................................................................ 26,926 (649) 26,277
Benefits paid ............................................................................................................... (1,566) 160 (1,406)
Increase in liabilities to policyholders ........................................................................ 6,558 (479) 6,079
Exchange differences and other movements .............................................................. (1,234) 30 (1,204)
At 31 December .......................................................................................................... 30,684 (938) 29,746
Investment contracts with discretionary participation features
At 1 January ................................................................................................................ 21,488 – 21,488
Benefits paid ............................................................................................................... (2,525) – (2,525)
Increase in liabilities to policyholders ........................................................................ 3,645 – 3,645
Exchange differences and other movements1 ............................................................. 1,766 – 1,766
At 31 December .......................................................................................................... 24,374 – 24,374
Life (linked)
At 1 January ................................................................................................................ 11,210 (903) 10,307
Benefits paid ............................................................................................................... (1,810) 681 (1,129)
Increase in liabilities to policyholders ........................................................................ 3,984 223 4,207
Exchange differences and other movements2 ............................................................. (328) (456) (784)
At 31 December .......................................................................................................... 13,056 (455) 12,601
Total liabilities to policyholders ................................................................................. 68,114 (1,393) 66,721