16 Insurance Liabilities and Reinsurance Assets

In CHF millionNotes  30.06.0931.12.0830.06.0931.12.0830.06.0931.12.08
 
Gross

Gross
Reinsurance
assets
Reinsurance
assets

Net

Net
Claims under non-life insurance contracts  1 2011 181241220960961
Unearned premiums non-life  104870110486
Claims under life insurance contracts  6 4546 63280746 3746 558
Future life policyholder benefits  79 85377 8319315179 76077 680
Unearned premiums life  102601110159
Deposits under insurance contracts  5 7775 2335 7775 233
Total insurance liabilities and reinsurance assets  93 49191 02441544793 07690 577
of which for the account and risk of the Swiss Life Group's customers4  712952712952


Claims under non-life insurance contracts | Claims under non-life insurance contracts represent the liability needed to provide for the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the financial reporting date. The estimated liability includes the amount that will be required for future payments on both claims that have been reported to the insurer and claims relating to insured events that have occurred but have not been reported to the insurer as at the date the liability is estimated. Loss development tables are generally used to make these estimates.

Claims under life insurance contracts | Claims under life insurance contracts represent the liability for unpaid portions of claims incurred. It includes an estimate of the liability for claims incurred but not reported (IBNR). The measurement at reporting date is a best estimate of ultimate future claim payments.

Unearned Premiums | Unearned premiums represent the portion of the premiums written relating to the unexpired terms of coverage.

Future Life Policyholder benefits | For participating contracts where the contribution principle applies to the allocation of the policyholder bonus, future life policy benefit liabilities are determined by using the net-level-premium method on the basis of appropriate mortality and interest rate assumptions.

The valuation of other long-duration contracts is also based on the net-level-premium method with actuarial assumptions as to mortality, persistency, expenses and investment returns, including provisions for adverse deviation.

Deposits under Insurance contracts | For investment-type contracts with significant insurance risk, savings premiums collected are reported as deposits (deposit accounting).

 
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