14 Insurance Liabilities and Reinsurance Assets

In CHF million  
  Gross Reinsurance assets Net
Notes  30.06.2011 31.12.2010 30.06.2011 31.12.2010 30.06.2011 31.12.2010
Claims under non-life insurance contracts
  944 998 193 203 751 795
Unearned premiums non-life
  88 68 0 0 88 68
Claims under life insurance contracts
  6 217 6 274 72 66 6 145 6 208
Future life policyholder benefits
  80 102 77 173 95 95 80 007 77 078
Unearned premiums life
  85 50 1 1 84 49
Deposits under insurance contracts
  5 847 5 742 5 847 5 742
Total insurance liabilities and reinsurance assets
  93 283 90 305 361 365 92 922 89 940
of which for the account and risk of the Swiss Life Group's customers 4  1 197 961 1 197 961


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 premiums written relating to the 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 risk, savings premiums collected are reported as deposits (deposit accounting).

 
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