16 Insurance Liabilities and Reinsurance Assets

In CHF million  
  Gross Reinsurance assets Net
Notes  30.06.2010 31.12.2009 30.06.2010 31.12.2009 30.06.2010 31.12.2009
Claims under non-life insurance contracts
  1 046 1 197 209 228 837 969
Unearned premiums non-life
  92 81 0 1 92 80
Claims under life insurance contracts
  6 182 6 505 67 81 6 115 6 424
Future life policyholder benefits
  78 161 78 528 96 101 78 065 78 427
Unearned premiums life
  84 59 1 1 83 58
Deposits under insurance contracts
  5 743 5 947 5 743 5 947
Total insurance liabilities and reinsurance assets
  91 308 92 317 373 412 90 935 91 905
of which for the account and risk of the Swiss Life Group's customers 4  851 742 851 742


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.

Unearned premiums

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

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.

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 risks, savings premiums collected are reported as deposits (deposit accounting).

 
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