The Group KD Group and KD Group dd

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The Group KD Group Annual Report 2009 Notes to Consolidated Financial Statements as at and for the year ended 31 December 2009 The calculation of provisions for claims is divided into two parts, considering the nature of individual claims: • Claims reported but not yet paid as at the balance sheet date On the basis of a review of all claims reported but not yet paid out as at the balance sheet date, an assessment is made on expected liabilities stemming from future payouts of individual claims. Larger cases of material claimsare appraised by inhouse appraisers, and non-material clams (e.g. liability claims) and claims in legal proceedings are assessed by in-house legal experts (lawyers). Liabilities from claims which are paid out in the form of annuities are assessed by the Group as the present value of future payouts, where a 2.6% discount factor is applied. • Claims incurred but not reported as at the balance sheet date (IBNR) IBNR liabilities are established on the level of insurance category using the triangle (chain ladder) method or statistical method. The chain ladder method can be based on recognised or accrued claims with monthly or annual development factors, depending on the characteristics of the incidence of loss and procedures for resolving claims. The claims are arranged in a triangle, where the rows represent the year the claims were incurred, and the columns represent the number of years from the time the clams were incurred to recognising or accrual of the claims. Prediction of final claims is based on the calculation of average annual development factors. The statistical method is based on reviewing past claims. The IBNR calculation is made on the level of individual insurance category as the mathematical product of the estimated number of IBNR damages and the estimated value of IBNR claims. The estimated number of IBNR claims reported after 1 January 2009 is calculated by multiplying the number of reported claims in 2008 by the average factor of claims reported later in relation to all reported claims over the past ten years. The estimated value of IBNR claims equals the average value of IBNR claims in the past year or the average value of claims paid in the past year if there was a relatively small number of claims. b) Changes in assumptions There were no changes in assumptions for insurance contracts in 2009 compared to 2008. c.) Development of claims The tables below show claims development for property insurance and extra accident insurance as part of life insurance policies. Property insurance (excluding voluntary health insurance) in EUR thousand for the year 2009 Year in which claims were incurred Cumulative claim payments in relation to the number of years passed between the reporting date and date of payment 0 1 2 3 4 5 6 7 8 9 10 1999 29,121 41,968 45,344 47,052 48,042 48,690 49,363 49,705 50,006 50,185 50,472 2000 30,890 45,437 48,806 50,788 51,569 52,024 52,538 52,897 53,220 53,509 2001 33,180 50,050 54,080 56,386 57,373 57,930 58,636 59,178 59,606 2002 33,403 51,210 54,992 57,189 57,811 58,524 59,181 59,509 2003 38,141 58,733 64,094 66,976 68,168 69,026 69,902 2004 47,218 69,325 73,273 75,673 77,070 77,991 2005 47,541 69,220 74,561 77,632 79,124 2006 46,268 73,223 78,161 81,129 2007 61,395 86,894 93,231 2008 66,077 98,471 2009 62,421 116
The Group KD Group Annual Report 2009 Notes to Consolidated Financial Statements as at and for the year ended 31 December 2009 Property insurance (excluding voluntary health insurance) in EUR thousand for the year 2008 Year in which claims were incurred Cumulative claim payments in relation to the number of years passed between the reporting date and date of payment 0 1 2 3 4 5 6 7 8 9 1999 29,121 41,968 45,344 47,052 48,042 48,690 49,363 49,705 50,006 50,185 2000 30,890 45,437 48,806 50,788 51,569 52,024 52,538 52,897 53,220 2001 33,180 50,050 54,080 56,386 57,373 57,930 58,636 59,178 2002 33,403 51,210 54,992 57,189 57,811 58,524 59,181 2003 38,141 58,733 64,094 66,976 68,168 69,026 2004 47,218 69,325 73,273 75,673 77,070 2005 47,541 69,220 74,561 77,632 2006 46,268 73,223 78,161 2007 61,395 86,894 2008 66,077 Life insurance - extra accident insurance in EUR thousand for the year 2009 Year in which claims were incurred Cumulative claim payments in relation to the number of years passed between the reporting date and date of payment 0 1 2 3 4 5 6 7 8 9 10 1999 294 516 556 598 624 625 625 625 626 626 626 2000 284 473 540 558 558 558 568 568 568 568 2001 242 477 552 602 610 615 619 619 619 2002 233 432 492 520 531 538 538 538 2003 151 246 300 319 324 325 325 2004 182 293 319 330 331 332 2005 196 396 462 483 517 2006 278 552 636 675 2007 302 534 655 2008 336 673 2009 294 Life insurance - extra accident insurance in EUR thousand for the year 2008 Year in which claims were incurred Cumulative claim payments in relation to the number of years passed between the reporting date and date of payment 0 1 2 3 4 5 6 7 8 9 1999 294 516 556 598 624 625 625 625 626 626 2000 284 473 540 558 558 558 568 568 568 2001 242 477 552 602 610 615 619 619 2002 233 432 492 520 531 538 538 2003 151 246 300 319 324 325 2004 182 293 319 330 331 2005 196 396 462 483 2006 278 552 636 2007 302 534 2008 336 117
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