ING Direct 2013 Annual Report Download - page 159
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Notes to the consolidated annual accounts of ING Group continued
24 GROSS PREMIUM INCOME
Gross premium income
2013 2012 2011
Gross premium income from life insurance policies 7,848 8,973 9,597
Gross premium income from non-life insurance policies 1,682 1,733 1,695
9,530 10,706 11,292
Gross premium income has been presented before deduction of reinsurance and retrocession premiums granted. Gross premium income
excludes premium received for investment contracts, for which deposit accounting is applied.
Effect of reinsurance on premiums written
Non-life Life Total
2013 2012 2011 2013 2012 2011 2013 2012 2011
Direct gross premiums written 1,656 1,709 1,672 7,842 8,973 9,592 9,498 10,682 11,264
Reinsurance assumed gross
premiums written 26 24 23 6–1 532 23 28
Total gross premiums written 1,682 1,733 1,695 7,848 8,972 9,597 9,530 10,705 11, 292
Reinsurance ceded –40 –40 –39 –103 –100 –103 –143 –140 –142
1,642 1,693 1,656 7,745 8,872 9,494 9,387 10,565 11,150
Effect of reinsurance on non-life premiums earned
2013 2012 2011
Direct gross premiums earned 1,657 1,731 1,699
Reinsurance assumed gross premiums earned 26 24 23
Total gross premiums earned 1,683 1,755 1,722
Reinsurance ceded –40 –40 –39
1,643 1,715 1,683
See Note 31 ‘Underwriting expenditure’ for disclosure on reinsurance ceded.
157ING Group Annual Report 2013
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