38.5 Technical provisions in life insurance
Reference Areas:
Health
Investments
Banking
Best Pratices in PZU
| Movement in the life insurance provision, provision for bonuses and discounts and other technical provisions – insurance contracts | 1 January – 31 December 2017 | 1 January – 31 December 2016 | ||||
| gross | reinsurers’ share | net | gross | reinsurers’ share | net | |
| Beginning of the period | 16,254 | - | 16,254 | 16,606 | - | 16,606 |
| Increase (reduction) of provisions relating to policies concluded in the current year | 333 | - | 333 | 316 | - | 316 |
| Increase (reduction) of provisions relating to policies concluded in previous years | (218) | - | (218) | (668) | - | (668) |
| Foreign exchange differences | (17) | - | (17) | - | - | - |
| End of the period | 16,352 | - | 16,352 | 16,254 | - | 16,254 |
| Gross movement in life insurance provisions – unit-linked contracts | 1 January – 31 December 2017 | 1 January – 31 December 2016 | ||||
| gross | reinsurers’ share | net | gross | reinsurers’ share | net | |
| Beginning of the period | 4,917 | - | 4,917 | 4,744 | - | 4,744 |
| Fund increases due to premiums | 1,411 | - | 1,411 | 956 | - | 956 |
| Fees charged | (90) | - | (90) | (91) | - | (91) |
| Income on fund’s investments | 287 | - | 287 | 131 | - | 131 |
| Fund reductions due to claims, surrenders etc. | (952) | - | (952) | (799) | - | (799) |
| Other changes | (58) | - | (58) | (24) | - | (24) |
| End of the period | 5,515 | - | 5,515 | 4,917 | - | 4,917 |
| Gross movement in claims provisions | 1 January – 31 December 2017 | 1 January – 31 December 2016 | ||||
| gross | reinsurers’ share | net | gross | reinsurers’ share | net | |
| Beginning of the period | 542 | - | 542 | 558 | - | 558 |
| Claims provisions used during the year | (572) | - | (572) | (562) | - | (562) |
| Claims provisions recognized during the year | 627 | - | 627 | 546 | - | 546 |
| End of the period | 597 | - | 597 | 542 | - | 542 |
