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KD Holding Group
Notes to Consolidated Financial Statements as at and for the year ended 31 December 2007
Life insurance - extra accident insurance in thousand EUR for the 2007
Year in which
claims were
Cumulative claim payments in relation number of years between the reporting date and date of payment
incurred
0 1 2 3 4 5 6 7 8
1999 294 516 556 598 624 625 625 625 626
2000 284 473 540 558 558 558 568 568
2001 242 477 552 602 610 615 619
2002 233 432 492 520 531 538
2003 151 246 300 319 324
2004 182 293 319 330
2005 196 396 462
2006 278 552
2007 302
Life insurance - extra accident insurance in thousand EUR for the year of 2006
246
Year in which
claims were
Cumulative claim payments in relation number of years between the reporting date and date of payment
incurred
0 1 2 3 4 5 6 7 8
1998 306 538 597 613 613 624 631 632 634
1999 358 672 773 818 849 852 873 873
2000 414 746 903 948 958 958 968
2001 368 775 946 1,049 1,060 1,065
2002 439 798 923 974 1,005
2003 383 804 984 1,019
2004 430 854 977
2005 490 1,073
2006 719
5.1.4 Long term life insurance – assumptions, changes
of assumptions and sensitivity
Preparing the financial statements in accordance
with IFRS require best estimations of liabilities
using assumptions which reflect the current market
(a) procedure of establishing assumptions
situation.
Liabilities from life insurance contracts with DPF were
calculated using assumptions on future mortality from
statistical tables; the portfolio of insurance contracts
was too small in the past so for the purpose of
estimation of mortalitiy the statistical tables are used:
- for life insurance contracts with DPF Slovenian
mortality tables from 1992 were used;
These assumptions are set at the time of concluding
the contract and remain the same throughout the
term of insurance, or safer assumptions are used in
the calculation of liability to provide for the possibility
of unfavourable deviation from expectations. An
additional adjustment is applied to these assumptions
to account for the risk and uncertainty.
- for annuity products German mortalitiy tables from
1987 were used.