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KD Holding Group
Notes to Consolidated Financial Statements as at and for the year ended 31 December 2007
302
(in EUR) 2007 2006
Receivables from reinsurers
Non-life insurance contracts:
- claims reported and loss adjustment expenses 8,848,566 7,465,540
- claims incurred but not reported 910,669 295,159
- unearned premiums 1,069,940 688,504
- provisions for bonuses, rebates 407 2,420
- other technical provisions (unexpired risk provisions included) - 5,750
10,829,582 8,457,373
Life insurance contracts:
- claims reported and loss adjustment expenses 127,076 104,795
- claims incurred but not reported 2,144 19,784
- unearned premiums 46,022 49,645
175,242 174,224
Total reinsurers' receivables of insurance liabilities 11,004,824 8,631,597
Non-life insurance contracts and healh contracts-net:
- claims reported and loss adjustment expenses 50,527,259 53,230,915
- claims incurred but not reported 55,379,619 45,085,284
- unearned premiums 67,991,486 63,372,654
- provisions for bonuses, rebates 140,098 322,153
- mathematical provision (for health insurance) 196,930 174,871
- other technical provisions (unexpired risk provisions included) 3,392,671 4,703,869
177,628,063 166,889,746
Life insurance contract-net:
- claims reported and loss adjustment expenses 1,626,762 1,452,575
- claims incurred but not reported 2,353,004 1,475,187
- unearned premiums 747,949 1,035,501
- other technical provisions (unexpired risk provisions included) 34,906 57,949
4,762,621 4,021,212
Long-term insurance contracts:
- with DPF 62,548,026 57,765,184
- without fixed terms - unit-linked 112,978,279 57,882,765
175,526,305 115,647,949
Total insurance liabilities, net 357,916,989 286,558,907
18.2 Movements in insurance liabilities and reinsurance assets
a) Claims and loss adjustment expenses
2007 2006
(in EUR)
Gross Reinsurance Net Gross Reinsurance Net
Notified claims 62,253,827 (7,570,335) 54,683,492 48,995,535 (6,226,260) 42,769,275
Incurred but not reported 46,875,412 (314,943) 46,560,469 45,479,490 (728,852) 44,750,638
Total at the beginning of the year 109,129,239 (7,885,278) 101,243,961 94,475,025 (6,955,112) 87,519,913
Cash paid for claims settled in the year (45,978,724) 2,273,779 (43,704,945) (36,189,427) 2,133,267 (34,056,160)
Increase in liabilities
- arising from current year claims 55,417,401 (2,874,711) 52,542,690 53,634,431 (1,809,602) 51,824,829
- arising from prior year claims 1,207,183 (1,402,245) (195,062) (2,790,790) (1,253,831) (4,044,621)
Total at end of the year 119,775,099 (9,888,455) 109,886,644 109,129,239 (7,885,278) 101,243,961