5. Technical provisions

Unearned premiums

For short-term insurance contracts, such as most property and casualty insurance policies, premiums relating to future years are reported as unearned premiums in line with the applicable regulations of . The amount of these unearned premiums corresponds to the insurance cover granted proportionally in future periods. levied upon entering into certain long-term contracts (e.g. upfront fees) are recognised as unearned premiums. In line with the applicable regulations of US GAAP, these fees are recorded in the same manner as the redemption of deferred acquisition costs. These unearned premiums are in principle calculated for each individual policy and exactly to the day. If they are attributable to life insurance, they are included in insurance provision.

Insurance provisions

Insurance provisions are essentially established in the life and health insurance lines. Their carrying amount is determined based on actuarial principles on the basis of the present value determined prospectively of future benefits to be paid by the insurer less the present value of future net premiums the insurer expects to receive on an individual contract basis. Insurance provisions are also established in the property and casualty lines that cover life-long obligations (accident pensions as well as pensions in motor liability insurance). The insurance provision of the life insurer is calculated by taking into account prudent and contractually agreed calculation principles, which are explained in more detail under the actuarial risks in chapter 43, “Risk profile”. These calculation principles take into account assumptions related to costs, mortality, invalidity and interest rate changes. Reasonable safety margins are included here in order to account for the risk of adjustments, errors and contingencies over the term of the contract.

For policies that are mainly of investment character (e.g. unit-linked life insurance), the provisions of 97 are used to measure insurance provision. is arrived at by combining the invested amounts, the change in value of the underlying investments and the withdrawals under the policy.

Insurance provisions for health insurance are determined based on calculation principles that correspond to the “best estimate”, taking into account safety margins. Once calculation principles have been determined, they have to be applied to the corresponding partial portfolio for the whole duration (locked-in principle).

Provisions for unsettled claims

The provision for unsettled claims includes both the provision for claims already reported by the reporting date as well as the provision for damage that has not yet been reported but which has already occurred.

The provision in property and casualty insurance is determined based on a best estimate. Standard actuarial methods are used to calculate the claim reserves with the parameters for these based on historical data. The assumptions made are reviewed continuously and adjusted if necessary. Examples of material assumptions include growth in claims frequency and in average claims expenses. The settlement patterns for the individual lines of business which can be impacted by various factors represent a further material assumption. Assumptions regarding the future progress of claims inflation are only made to the extent that the future development is extrapolated based on historical observations. In insurance lines where historical values do not allow the application of statistical methods, calculations are made on the basis of market data or expert assessments.

Discounting of claims reserves only takes place with respect to a small section of the annuity reserves for which an insurance provision is also formed. Recourse payments expected in future are deducted from the provision for unsettled claims. Costs of settling the claim that are directly attributable to the claim event such as costs of an expert report are already included in the calculation for the provision. Provisions for internal settlement expense are determined in a separate calculation procedure. The calculation of the provision for unsettled claims involves uncertainty on account of the contingency risk in the underlying assumptions. Further information on this can be found in chapter 43, “Risk profile”.

For health insurance, provisions for unsettled claims are estimated on the basis of past experience, taking into consideration the known arrears in claim payments.

Life insurance is calculated on an individual loss basis with the exception of the provision for unreported claims.

Provision for the assumed reinsurance business generally complies with the figures of the cedents.

Provisions for premium refunds and profit participation

The provision for premium refunds includes the amounts for profit-related and non-profit related profit participation to which the policyholders are entitled on the basis of statutory or contractual provisions.

In life insurance, policies with a discretionary participation feature, differences between local measurement and measurement in accordance with are presented with deferred profit participation taken into account, whereby this is also reported in profit/(loss) for the period or in other comprehensive income depending on the recognition of the change in the underlying measurement differences. The amount of the provision for deferred profit participation generally comes to 85 per cent of the valuation differentials before tax.

Other technical provisions

This item contains provision for contingent losses for acquired reinsurance portfolios as well as provision for expected cancellations and premium defaults.

Liability Adequacy Test

The Liability Adequacy Test evaluates whether the established IFRS reserves are sufficient. For the life insurance portfolio, a best estimate reserve is compared with the IFRS reserve less the deferred acquisition costs plus unearned revenue liability (URL). This calculation is done separately each quarter for mixed insurance policies, pension policies, risk insurance policies, and unit-linked and index-linked policies.

Because UNIQA already uses the best estimate approach for calculating loss reserves in non-life, only unearned premiums are tested. Business lines that feature a surplus in the annual calculation of less than 10 per cent from future premiums less claims and costs expected in future are reviewed each quarter. In non-life insurance, the business lines tested are motor vehicle liability insurance, general liability insurance and other.

Gross

In € thousand

Unearned premiums

Insurance provision

Provision for unsettled claims

Provision for non-profit related premium refunds

Provision for profit-related premium refunds and/or policy­holder profit partici­pation

Other technical pro­visions

Total

Property and casualty insurance

 

 

 

 

 

At 1 January 2018

563,515

12,550

2,492,366

28,242

1,771

14,308

3,112,751

Foreign exchange differences

–3,499

–383

–7,791

–52

1

–75

–11,799

Portfolio changes

–515

 

–808

 

 

–2,269

–3,592

Additions

 

319

 

1,186

501

3,015

5,020

Disposals

 

–185

 

–124

–954

–3,136

–4,399

Premiums written

2,774,435

 

 

 

 

 

2,774,435

Premiums earned

–2,741,750

 

 

 

 

 

–2,741,750

Claims reporting year

 

 

1,769,180

 

 

 

1,769,180

Claims payments reporting year

 

 

–863,108

 

 

 

–863,108

Change in claims previous years

 

 

–46,449

 

 

 

–46,449

Claims payments previous years

 

 

–744,127

 

 

 

–744,127

At 31 December 2018

592,185

12,301

2,599,264

29,251

1,319

11,843

3,246,163

 

 

 

 

 

 

 

 

Health insurance

 

 

 

 

 

 

 

At 1 January 2018

10,727

2,799,040

165,494

11,580

51,545

657

3,039,042

Foreign exchange differences

–200

–105

81

–12

0

–2

–238

Portfolio changes

492

 

97

 

 

–158

431

Additions

 

133,208

 

10,571

20,000

218

163,997

Disposals

 

–23

 

–9,056

–20,651

 

–29,730

Premiums written

1,086,444

 

 

 

 

 

1,086,444

Premiums earned

–1,084,569

 

 

 

 

 

–1,084,569

Claims reporting year

 

 

741,200

 

 

 

741,200

Claims payments reporting year

 

 

–571,444

 

 

 

–571,444

Change in claims previous years

 

 

–8,868

 

 

 

–8,868

Claims payments previous years

 

 

–143,344

 

 

 

–143,344

At 31 December 2018

12,894

2,932,119

183,216

13,082

50,894

715

3,192,921

 

 

 

 

 

 

 

 

Life insurance

 

 

 

 

 

 

 

At 1 January 2018

 

10,207,610

169,477

4,829

843,708

4,655

11,230,279

Foreign exchange differences

 

–14,236

–1,063

–14

–776

–98

–16,187

Portfolio changes

 

50,017

–422

 

–3,307

–102

46,186

Additions

 

147,563

 

164

26,881

1,397

176,006

Disposals

 

–411,471

 

–49

–158,687

–495

–570,701

Claims reporting year

 

 

1,224,385

 

 

 

1,224,385

Claims payments reporting year

 

 

–1,044,615

 

 

 

–1,044,615

Change in claims previous years

 

 

11,324

 

 

 

11,324

Claims payments previous years

 

 

–159,402

 

 

 

–159,402

At 31 December 2018

 

9,979,484

199,684

4,931

707,819

5,357

10,897,274

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

At 1 January 2018

574,242

13,019,200

2,827,337

44,650

897,024

19,620

17,382,072

Foreign exchange differences

–3,699

–14,724

–8,772

–78

–775

–175

–28,224

Portfolio changes

–24

50,017

–1,133

 

–3,307

–2,529

43,025

Additions

 

281,090

 

11,921

47,382

4,630

345,023

Disposals

 

–411,679

 

–9,230

–180,291

–3,631

–604,831

Premiums written

3,860,879

 

 

 

 

 

3,860,879

Premiums earned

–3,826,319

 

 

 

 

 

–3,826,319

Claims reporting year

 

 

3,734,766

 

 

 

3,734,766

Claims payments reporting year

 

 

–2,479,167

 

 

 

–2,479,167

Change in claims previous years

 

 

–43,993

 

 

 

–43,993

Claims payments previous years

 

 

–1,046,874

 

 

 

–1,046,874

At 31 December 2018

605,079

12,923,904

2,982,164

47,264

760,032

17,915

17,336,358

Reinsurers’ share

In € thousand

Unearned premiums

Insurance provision

Provision for unsettled claims

Provision for non-profit related premium refunds

Provision for profit-related premium refunds and/or policy­holder profit partici­pation

Other technical pro­visions

Total

Property and casualty insurance

 

 

 

 

 

 

 

At 1 January 2018

25,903

12

145,312

 

 

1,791

173,019

Foreign exchange differences

223

0

173

 

 

–22

374

Portfolio changes

17

 

–856

 

 

 

–839

Additions

 

10

 

 

 

831

841

Premiums written

157,498

 

 

 

 

 

157,498

Premiums earned

–156,085

 

 

 

 

 

–156,085

Claims reporting year

 

 

142,869

 

 

 

142,869

Claims payments reporting year

 

 

–18,784

 

 

 

–18,784

Change in claims previous years

 

 

–699

 

 

 

–699

Claims payments previous years

 

 

–22,587

 

 

 

–22,587

At 31 December 2018

27,557

22

245,429

 

 

2,600

275,608

 

 

 

 

 

 

 

 

Health insurance

 

 

 

 

 

 

 

At 1 January 2018

200

1,159

31

 

 

 

1,391

Foreign exchange differences

3

–68

–2

 

 

 

–67

Portfolio changes

466

–457

456

 

 

 

464

Additions

 

 

 

 

 

4

4

Disposals

 

–68

 

 

 

 

–68

Premiums written

3,611

 

 

 

 

 

3,611

Premiums earned

–3,656

 

 

 

 

 

–3,656

Claims reporting year

 

 

789

 

 

 

789

Claims payments reporting year

 

 

–391

 

 

 

–391

Change in claims previous years

 

 

872

 

 

 

872

Claims payments previous years

 

 

–891

 

 

 

–891

At 31 December 2018

624

566

863

 

 

4

2,057

 

 

 

 

 

 

 

 

Life insurance

 

 

 

 

 

 

 

At 1 January 2018

 

136,223

5,477

 

 

17

141,716

Foreign exchange differences

 

–85

–18

 

 

 

–104

Portfolio changes

 

–192

–1

 

 

 

–193

Additions

 

237

 

 

 

0

238

Disposals

 

–5,593

 

 

 

 

–5,593

Claims reporting year

 

 

22,023

 

 

 

22,023

Claims payments reporting year

 

 

–19,685

 

 

 

–19,685

Change in claims previous years

 

 

2,463

 

 

 

2,463

Claims payments previous years

 

 

–5,169

 

 

 

–5,169

At 31 December 2018

 

130,590

5,089

 

 

17

135,696

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

At 1 January 2018

26,103

137,394

150,820

 

 

1,808

316,126

Foreign exchange differences

227

–154

153

 

 

–22

204

Portfolio changes

483

–649

–401

 

 

 

–567

Additions

 

248

 

 

 

835

1,083

Disposals

 

–5,661

 

 

 

 

–5,661

Premiums written

161,109

 

 

 

 

 

161,109

Premiums earned

–159,741

 

 

 

 

 

–159,741

Claims reporting year

 

 

165,681

 

 

 

165,681

Claims payments reporting year

 

 

–38,860

 

 

 

–38,860

Change in claims previous years

 

 

2,637

 

 

 

2,637

Claims payments previous years

 

 

–28,647

 

 

 

–28,647

At 31 December 2018

28,181

131,178

251,381

 

 

2,621

413,361

Net

In € thousand

Unearned premiums

Insurance provision

Provision for unsettled claims

Provision for non-profit related premium refunds

Provision for profit-related premium refunds and/or policy­holder profit partici­pation

Other technical pro­visions

Total

Property and casualty insurance

 

 

 

 

 

 

At 1 January 2018

537,612

12,538

2,347,053

28,242

1,771

12,516

2,939,732

Foreign exchange differences

–3,722

–382

–7,964

–52

1

–53

–12,173

Portfolio changes

–532

 

48

 

 

–2,269

–2,753

Additions

 

308

 

1,186

501

2,184

4,179

Disposals

 

–185

 

–124

–954

–3,136

–4,399

Premiums written

2,616,937

 

 

 

 

 

2,616,937

Premiums earned

–2,585,666

 

 

 

 

 

–2,585,666

Claims reporting year

 

 

1,626,311

 

 

 

1,626,311

Claims payments reporting year

 

 

–844,324

 

 

 

–844,324

Change in claims previous years

 

 

–45,750

 

 

 

–45,750

Claims payments previous years

 

 

–721,540

 

 

 

–721,540

At 31 December 2018

564,628

12,279

2,353,835

29,251

1,319

9,243

2,970,555

 

 

 

 

 

 

 

 

Health insurance

 

 

 

 

 

 

 

At 1 January 2018

10,526

2,797,881

165,463

11,580

51,545

657

3,037,651

Foreign exchange differences

–203

–37

83

–12

0

–2

–172

Portfolio changes

26

457

–359

 

 

–158

–34

Additions

 

133,208

 

10,571

20,000

214

163,993

Disposals

 

45

 

–9,056

–20,651

 

–29,662

Premiums written

1,082,834

 

 

 

 

 

1,082,834

Premiums earned

–1,080,912

 

 

 

 

 

–1,080,912

Claims reporting year

 

 

740,411

 

 

 

740,411

Claims payments reporting year

 

 

–571,052

 

 

 

–571,052

Change in claims previous years

 

 

–9,741

 

 

 

–9,741

Claims payments previous years

 

 

–142,453

 

 

 

–142,453

At 31 December 2018

12,270

2,931,554

182,353

13,082

50,894

711

3,190,864

 

 

 

 

 

 

 

 

Life insurance

 

 

 

 

 

 

 

At 1 January 2018

 

10,071,387

164,000

4,829

843,708

4,638

11,088,563

Foreign exchange differences

 

–14,151

–1,045

–14

–776

–98

–16,083

Portfolio changes

 

50,209

–421

 

–3,307

–102

46,379

Additions

 

147,326

 

164

26,881

1,396

175,768

Disposals

 

–405,878

 

–49

–158,687

–495

–565,108

Claims reporting year

 

 

1,202,363

 

 

 

1,202,363

Claims payments reporting year

 

 

–1,024,930

 

 

 

–1,024,930

Change in claims previous years

 

 

8,861

 

 

 

8,861

Claims payments previous years

 

 

–154,234

 

 

 

–154,234

At 31 December 2018

 

9,848,894

194,595

4,931

707,819

5,340

10,761,578

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

At 1 January 2018

548,138

12,881,806

2,676,517

44,650

897,024

17,812

17,065,946

Foreign exchange differences

–3,926

–14,570

–8,925

–78

–775

–153

–28,428

Portfolio changes

–507

50,666

–731

 

–3,307

–2,529

43,593

Additions

 

280,842

 

11,921

47,382

3,795

343,940

Disposals

 

–406,018

 

–9,230

–180,291

–3,631

–599,169

Premiums written

3,699,770

 

 

 

 

 

3,699,770

Premiums earned

–3,666,578

 

 

 

 

 

–3,666,578

Claims reporting year

 

 

3,569,085

 

 

 

3,569,085

Claims payments reporting year

 

 

–2,440,306

 

 

 

–2,440,306

Change in claims previous years

 

 

–46,630

 

 

 

–46,630

Claims payments previous years

 

 

–1,018,226

 

 

 

–1,018,226

At 31 December 2018

576,898

12,792,727

2,730,783

47,264

760,032

15,294

16,922,997

Gross

In € thousand

Unearned premiums

Insurance provision

Provision for unsettled claims

Provision for non-profit related premium refunds

Provision for profit-related premium refunds and/or policy­holder profit partici­pation

Other technical pro­visions

Total

Property and casualty insurance

 

 

 

 

 

 

At 1 January 2017

541,701

12,273

2,287,500

26,815

1,399

15,096

2,884,784

Foreign exchange differences

7,773

9

16,375

–2

46

366

24,566

Portfolio changes

12,508

–17

116,717

 

 

 

129,208

Additions

 

376

 

1,617

327

1,169

3,488

Disposals

 

–91

 

–188

 

–2,323

–2,603

Premiums written

2,639,699

 

 

 

 

 

2,639,699

Premiums earned

–2,638,167

 

 

 

 

 

–2,638,167

Claims reporting year

 

 

1,651,428

 

 

 

1,651,428

Claims payments reporting year

 

 

–840,646

 

 

 

–840,646

Change in claims previous years

 

 

–76,821

 

 

 

–76,821

Claims payments previous years

 

 

–662,186

 

 

 

–662,186

At 31 December 2017

563,515

12,550

2,492,366

28,242

1,771

14,308

3,112,751

 

 

 

 

 

 

 

 

Health insurance

 

 

 

 

 

 

 

At 1 January 2017

7,780

2,660,066

158,203

10,684

44,621

561

2,881,916

Foreign exchange differences

–52

170

–489

–1

0

8

–363

Portfolio changes

16

3,582

1,265

 

 

 

4,863

Additions

 

135,247

 

9,797

26,404

102

171,549

Disposals

 

–26

 

–8,900

–19,480

–14

–28,420

Premiums written

1,041,964

 

 

 

 

 

1,041,964

Premiums earned

–1,038,981

 

 

 

 

 

–1,038,981

Claims reporting year

 

 

648,054

 

 

 

648,054

Claims payments reporting year

 

 

–551,643

 

 

 

–551,643

Change in claims previous years

 

 

52,083

 

 

 

52,083

Claims payments previous years

 

 

–141,980

 

 

 

–141,980

At 31 December 2017

10,727

2,799,040

165,494

11,580

51,545

657

3,039,042

 

 

 

 

 

 

 

 

Life insurance

 

 

 

 

 

 

 

At 1 January 2017 adjusted

 

10,774,952

139,844

3,923

953,228

4,795

11,876,742

Foreign exchange differences

 

–1,798

298

–1

368

0

–1,132

Portfolio changes

 

22,454

–103

 

–7,109

 

15,242

Additions

 

160,605

 

907

5,353

1,002

167,867

Disposals

 

–748,603

 

 

–108,132

–1,142

–857,877

Claims reporting year

 

 

1,608,701

 

 

 

1,608,701

Claims payments reporting year

 

 

–1,455,481

 

 

 

–1,455,481

Change in claims previous years

 

 

32,473

 

 

 

32,473

Claims payments previous years

 

 

–156,255

 

 

 

–156,255

At 31 December 2017 adjusted

 

10,207,610

169,477

4,829

843,708

4,655

11,230,279

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

At 1 January 2017 adjusted

549,482

13,447,291

2,585,547

41,422

999,247

20,452

17,643,442

Foreign exchange differences

7,721

–1,619

16,184

–3

415

374

23,071

Portfolio changes

12,524

26,019

117,879

 

–7,109

 

149,314

Additions

 

296,228

 

12,320

32,083

2,273

342,904

Disposals

 

–748,720

 

–9,089

–127,612

–3,479

–888,900

Premiums written

3,681,663

 

 

 

 

 

3,681,663

Premiums earned

–3,677,148

 

 

 

 

 

–3,677,148

Claims reporting year

 

 

3,908,183

 

 

 

3,908,183

Claims payments reporting year

 

 

–2,847,770

 

 

 

–2,847,770

Change in claims previous years

 

 

7,735

 

 

 

7,735

Claims payments previous years

 

 

–960,422

 

 

 

–960,422

At 31 December 2017 adjusted

574,242

13,019,200

2,827,337

44,650

897,024

19,620

17,382,072

Reinsurers’ share

In € thousand

Unearned premiums

Insurance provision

Provision for unsettled claims

Provision for non-profit related premium refunds

Provision for profit-related premium refunds and/or policy­holder profit partici­pation

Other technical pro­visions

Total

Property and casualty insurance

 

 

 

 

 

 

At 1 January 2017

23,021

13

151,227

 

 

2,158

176,419

Foreign exchange differences

588

0

505

 

 

–2

1,092

Portfolio changes

657

 

1,034

 

 

 

1,691

Disposals

 

–1

 

 

 

–366

–366

Premiums written

143,175

 

 

 

 

 

143,175

Premiums earned

–141,538

 

 

 

 

 

–141,538

Claims reporting year

 

 

30,932

 

 

 

30,932

Claims payments reporting year

 

 

–14,339

 

 

 

–14,339

Change in claims previous years

 

 

2,169

 

 

 

2,169

Claims payments previous years

 

 

–26,215

 

 

 

–26,215

At 31 December 2017

25,903

12

145,312

 

 

1,791

173,019

 

 

 

 

 

 

 

 

Health insurance

 

 

 

 

 

 

 

At 1 January 2017

281

995

582

 

 

 

1,857

Foreign exchange differences

9

–21

0

 

 

 

–12

Portfolio changes

9

 

 

 

 

 

9

Additions

 

262

 

 

 

 

262

Disposals

 

–76

 

 

 

 

–76

Premiums written

1,116

 

 

 

 

 

1,116

Premiums earned

–1,214

 

 

 

 

 

–1,214

Claims reporting year

 

 

920

 

 

 

920

Claims payments reporting year

 

 

–893

 

 

 

–893

Change in claims previous years

 

 

1,019

 

 

 

1,019

Claims payments previous years

 

 

–1,598

 

 

 

–1,598

At 31 December 2017

200

1,159

31

 

 

 

1,391

 

 

 

 

 

 

 

 

Life insurance

 

 

 

 

 

 

 

At 1 January 2017

 

141,556

4,789

 

 

–178

146,166

Foreign exchange differences

 

–38

22

 

 

0

–16

Portfolio changes

 

–2,313

 

 

 

 

–2,313

Additions

 

252

 

 

 

195

447

Disposals

 

–3,234

 

 

 

 

–3,234

Claims reporting year

 

 

23,226

 

 

 

23,226

Claims payments reporting year

 

 

–20,930

 

 

 

–20,930

Change in claims previous years

 

 

2,457

 

 

 

2,457

Claims payments previous years

 

 

–4,088

 

 

 

–4,088

At 31 December 2017

 

136,223

5,477

 

 

17

141,716

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

At 1 January 2017

23,302

142,564

156,598

 

 

1,980

324,443

Foreign exchange differences

597

–59

528

 

 

–2

1,064

Portfolio changes

666

–2,313

1,034

 

 

 

–614

Additions

 

514

 

 

 

195

709

Disposals

 

–3,311

 

 

 

–366

–3,676

Premiums written

144,291

 

 

 

 

 

144,291

Premiums earned

–142,752

 

 

 

 

 

–142,752

Claims reporting year

 

 

55,078

 

 

 

55,078

Claims payments reporting year

 

 

–36,162

 

 

 

–36,162

Change in claims previous years

 

 

5,644

 

 

 

5,644

Claims payments previous years

 

 

–31,901

 

 

 

–31,901

At 31 December 2017

26,103

137,394

150,820

 

 

1,808

316,126

Net

In € thousand

Unearned premiums

Insurance provision

Provision for unsettled claims

Provision for non-profit related premium refunds

Provision for profit-related premium refunds and/or policy­holder profit partici­pation

Other technical pro­visions

Total

Property and casualty insurance

 

 

 

 

 

 

At 1 January 2017

518,681

12,260

2,136,273

26,815

1,399

12,937

2,708,365

Foreign exchange differences

7,184

9

15,869

–2

46

368

23,475

Portfolio changes

11,851

–17

115,683

 

 

 

127,517

Additions

 

376

 

1,617

327

1,169

3,488

Disposals

 

–91

 

–188

 

–1,958

–2,237

Premiums written

2,496,524

 

 

 

 

 

2,496,524

Premiums earned

–2,496,629

 

 

 

 

 

–2,496,629

Claims reporting year

 

 

1,620,496

 

 

 

1,620,496

Claims payments reporting year

 

 

–826,307

 

 

 

–826,307

Change in claims previous years

 

 

–78,990

 

 

 

–78,990

Claims payments previous years

 

 

–635,971

 

 

 

–635,971

At 31 December 2017

537,612

12,538

2,347,053

28,242

1,771

12,516

2,939,732

 

 

 

 

 

 

 

 

Health insurance

 

 

 

 

 

 

 

At 1 January 2017

7,499

2,659,072

157,622

10,684

44,621

561

2,880,058

Foreign exchange differences

–61

191

–489

–1

0

8

–351

Portfolio changes

7

3,582

1,265

 

 

 

4,855

Additions

 

134,985

 

9,797

26,404

102

171,288

Disposals

 

50

 

–8,900

–19,480

–14

–28,344

Premiums written

1,040,848

 

 

 

 

 

1,040,848

Premiums earned

–1,037,767

 

 

 

 

 

–1,037,767

Claims reporting year

 

 

647,134

 

 

 

647,134

Claims payments reporting year

 

 

–550,750

 

 

 

–550,750

Change in claims previous years

 

 

51,064

 

 

 

51,064

Claims payments previous years

 

 

–140,382

 

 

 

–140,382

At 31 December 2017

10,526

2,797,881

165,463

11,580

51,545

657

3,037,651

 

 

 

 

 

 

 

 

Life insurance

 

 

 

 

 

 

 

At 1 January 2017 adjusted

 

10,633,396

135,055

3,923

953,228

4,974

11,730,576

Foreign exchange differences

 

–1,760

276

–1

368

0

–1,117

Portfolio changes

 

24,767

–103

 

–7,109

 

17,555

Additions

 

160,353

 

907

5,353

807

167,419

Disposals

 

–745,369

 

 

–108,132

–1,142

–854,643

Claims reporting year

 

 

1,585,474

 

 

 

1,585,474

Claims payments reporting year

 

 

–1,434,551

 

 

 

–1,434,551

Change in claims previous years

 

 

30,016

 

 

 

30,016

Claims payments previous years

 

 

–152,168

 

 

 

–152,168

At 31 December 2017 adjusted

 

10,071,387

164,000

4,829

843,708

4,638

11,088,563

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

At 1 January 2017 adjusted

526,180

13,304,728

2,428,950

41,422

999,247

18,472

17,318,999

Foreign exchange differences

7,124

–1,560

15,656

–3

415

375

22,007

Portfolio changes

11,858

28,333

116,845

 

–7,109

 

149,927

Additions

 

295,714

 

12,320

32,083

2,078

342,195

Disposals

 

–745,409

 

–9,089

–127,612

–3,113

–885,224

Premiums written

3,537,372

 

 

 

 

 

3,537,372

Premiums earned

–3,534,396

 

 

 

 

 

–3,534,396

Claims reporting year

 

 

3,853,104

 

 

 

3,853,104

Claims payments reporting year

 

 

–2,811,608

 

 

 

–2,811,608

Change in claims previous years

 

 

2,090

 

 

 

2,090

Claims payments previous years

 

 

–928,521

 

 

 

–928,521

At 31 December 2017 adjusted

548,138

12,881,806

2,676,517

44,650

897,024

17,812

17,065,946

The interest rates used as an accounting basis for the insurance provision were as follows:

In per cent

Health insurance

Life insurance

2018

 

 

For insurance provision

1.50 – 5.50

0.00 – 4.00

For deferred acquisition costs

1.50 – 5.50

2.39 – 2.59

 

 

 

2017

 

 

For insurance provision

1.50 – 5.50

0.00 – 4.00

For deferred acquisition costs

1.50 – 5.50

2.49 – 2.54

Development of the provision for deferred profit participation

In € thousand

31/12/2018

31/12/2017
adjusted

At 1 January

771,927

871,730

Fluctuation in value, available-for-sale securities

–132,275

–317,334

Revaluations through profit or loss

6,284

217,532

At 31 December

645,937

771,927

Claims payments

 

 

 

 

 

 

 

 

 

 

 

 

In € thousand

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

Total

Financial year

680,427

751,599

773,996

714,267

778,329

798,573

729,222

734,691

746,846

814,664

844,675

 

1 year later

1,020,882

1,130,543

1,138,253

1,068,406

1,142,524

1,174,639

1,106,066

1,106,222

1,118,644

1,233,210

 

 

2 years later

1,108,613

1,228,232

1,229,475

1,177,160

1,255,972

1,285,030

1,204,327

1,202,760

1,231,387

 

 

 

3 years later

1,152,195

1,286,633

1,276,504

1,225,202

1,308,792

1,334,305

1,251,179

1,251,488

 

 

 

 

4 years later

1,178,204

1,311,375

1,300,643

1,251,970

1,339,606

1,362,980

1,278,898

 

 

 

 

 

5 years later

1,197,413

1,327,499

1,318,705

1,266,660

1,358,361

1,380,369

 

 

 

 

 

 

6 years later

1,208,719

1,341,509

1,329,655

1,278,874

1,372,186

 

 

 

 

 

 

 

7 years later

1,219,432

1,350,716

1,338,526

1,289,116

 

 

 

 

 

 

 

 

8 years later

1,228,579

1,358,874

1,346,403

 

 

 

 

 

 

 

 

 

9 years later

1,233,379

1,366,121

 

 

 

 

 

 

 

 

 

 

10 years later

1,238,936

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cumulated payments and provision for unsettled claims In 

 

 

 

 

 

 

 

 

 

 

 

 

In € thousand

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

 

Financial year

1,259,054

1,392,902

1,401,783

1,337,566

1,444,917

1,489,270

1,475,068

1,476,130

1,515,928

1,615,166

1,719,067

 

1 year later

1,259,435

1,405,975

1,395,983

1,348,006

1,436,610

1,472,322

1,457,929

1,449,504

1,495,915

1,606,939

 

 

2 years later

1,272,176

1,410,426

1,404,598

1,350,674

1,449,431

1,495,723

1,437,879

1,429,766

1,479,026

 

 

 

3 years later

1,271,441

1,407,144

1,392,071

1,353,309

1,454,301

1,489,480

1,413,637

1,417,989

 

 

 

 

4 years later

1,269,188

1,401,274

1,394,923

1,353,437

1,447,394

1,474,842

1,399,226

 

 

 

 

 

5 years later

1,266,219

1,402,704

1,401,018

1,351,386

1,447,991

1,470,199

 

 

 

 

 

 

6 years later

1,272,535

1,405,034

1,399,677

1,349,836

1,449,843

 

 

 

 

 

 

 

7 years later

1,276,077

1,411,355

1,397,935

1,346,159

 

 

 

 

 

 

 

 

8 years later

1,282,654

1,412,051

1,395,533

 

 

 

 

 

 

 

 

 

9 years later

1,282,802

1,420,703

 

 

 

 

 

 

 

 

 

 

10 years later

1,279,631

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Settlement gains/losses

3,171

–8,652

2,403

3,678

–1,851

4,643

14,412

11,777

16,889

8,227

 

54,695

Settlement gains/losses before 2008

 

 

 

 

 

 

 

 

 

 

 

310

Total settlement gains/losses

 

 

 

 

 

 

 

 

 

 

 

55,005

Provision for unsettled claims for accident years before 2008

 

 

 

 

 

 

 

 

 

 

 

 

Provision for unsettled claims

40,695

54,582

49,129

57,043

77,657

89,830

120,328

166,501

247,638

373,729

874,391

2,151,525

 

 

 

 

 

 

 

 

 

 

 

 

268,186

Plus other reserve components (components not in triangle, internal claims regulation costs, etc.)

179,553

Provisions for unsettled claims (gross at 31 December 2018)

2,599,264

US GAAP
US Generally Accepted Accounting Principles.
Premiums
Total premiums written. All premiums from contracts written in the financial year from business acquired by the company directly and as inward reinsurance.
FAS
US Financial Accounting Standards that set out the details on US GAAP (Generally Accepted Accounting Principles).
Insurance provision
Provision in the amount of the existing obligation to pay insurance benefits and reimbursements, predominantly in life and health insurance. The provision is determined using actuarial methods as a balance of the present value of future obligations less the present value of future premiums.
IFRSs
International Financial Reporting Standards. Since 2002 the term IFRSs has applied to the overall concept of standards adopted by the International Accounting Standards Board. Standards already adopted beforehand continue to be referred to as International Accounting Standards (IASs).