XML 107 R88.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Note 23 (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Assets and Liabilities under reinsurance and insurance contracts [Abstract] |
Liabilities under Insurance and Reinsurance Contracts [Table Text Block] | The heading “Liabilities under insurance and reinsurance contracts” in the consolidated balance sheets includes the liabilities recorded under insurance contracts of the consolidated insurance entities in accordance with IFRS 17 (see Note 2.2.8). The breakdown of the balance of this heading as of December 31, 2023 and 2022 is as follows:
Liabilities under insurance and reinsurance contracts (Millions of Euros)
| 2023 | 2022 ⁽¹⁾
Insurances | 12,110 | 10,131
Liabilities for remaining coverage | 10,900 | 9,157
Estimates of the present value of cash flows | 9,361 | 7,745
Risk adjustment | 171 | 155
Cost service margin | 1,213 | 1,097
Loss component | 1 | 1
Premium reserve - Simplified Model | 154 | 159
Liabilities for incurred claims | 1,210 | 974
Estimates of the present value of cash flows | 1,191 | 959
Risk adjustment | 19 | 15
Reinsurances | — | —
Total | 12,110 | 10,131
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Notes 1.3 and 2.3).
Liaiblities under insurance and reinsurance contracts by type of product [Table Text Block] | In addition, the breakdown of “Liabilities under insurance and reinsurance contracts” in the consolidated balance sheets by type of product as of December 31, 2023 and 2022 is shown in the table below:
Liabilities under insurance and reinsurance contracts by type of product (Millions of Euros)
| 2023 | 2022 ⁽¹⁾
Liabilities for remaining coverage | 10,900 | 9,157
Life insurance | 10,657 | 8,962
Individuals life insurance ⁽²⁾ | 8,900 | 7,592
Group insurance ⁽³⁾ | 1,757 | 1,370
Non-life insurance | 243 | 195
Liabilities for incurred claims | 1,210 | 974
Total | 12,110 | 10,131
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Notes 1.3 and 2.3). (2) Provides coverage in the event of death, disability and serious illness. (3) The insurance policies purchased by employers (other than BBVA Group) on behalf of their employees.
Variation in liabilities under Insurance and Reinsurance Contracts analyzed by liabilities for the remaining coverage and liabilities for incurred claims [Table Text Block] | The variation in liabilities under insurance and reinsurance contracts analyzed by liability for the remaining coverage and liability for incurred claims for the years 2023 and 2022 is shown below:
Variation in liabilities under insurance and reinsurance contracts analyzed by liabilities for the remaining coverage and the liabilities for incurred claims. December 2023 (Millions of Euros)
| Liability for remaining coverage | Liability for incurred claims | Total
| Excluding loss component | Loss component
Initial balance | 7,871 | 1,286 | 974 | 10,131
Result from insurance service | (2,817) | (5) | 1,532 | (1,289)
Insurance revenue | (2,887) | (10) | — | (2,897)
Amounts related to changes in liability for remaining coverage | (995) | (10) | — | (1,005)
Recovery of insurance acquisition cash flows | (23) | — | — | (23)
Other | (1,869) | — | — | (1,869)
Insurance expense | 70 | 5 | 1,532 | 1,607
Incurred claims and other expenses | — | — | 1,509 | 1,509
Amortization of insurance acquisition cash flows | 70 | — | — | 70
Changes to liability for incurred claims | — | — | 23 | 23
Impairment (reversal) from loss component | — | 5 | — | 5
Financial income/ expenses from insurance contracts | 495 | 68 | 1 | 564
Exchange differences | 795 | 212 | 59 | 1,067
Cash flows | 2,692 | 302 | (1,357) | 1,637
Final balance | 9,036 | 1,864 | 1,210 | 12,110
Variation in liabilities under insurance and reinsurance contracts analyzed by liabilities for the remaining coverage and the liabilities for incurred claims. December 2022 (Millions of Euros)
| Liability for remaining coverage | Liability for incurred claims | Total
| Excluding loss component | Loss component
Initial balance | 7,657 | 1,218 | 1,097 | 9,972
Result from insurance service | (2,201) | (244) | 1,260 | (1,186)
Insurance revenue | (2,329) | (246) | — | (2,575)
Amounts related to changes in liability for remaining coverage | (828) | (246) | — | (1,074)
Recovery of insurance acquisition cash flows | (4) | — | — | (4)
Other | (1,497) | — | — | (1,497)
Insurance expense | 128 | 2 | 1,260 | 1,390
Incurred claims and other expenses | — | — | 1,112 | 1,112
Amortization of insurance acquisition cash flows | 116 | — | — | 116
Changes to liability for incurred claims | — | — | 148 | 148
Impairment (reversal) from loss component | 12 | 2 | — | 13
Financial income/ expenses from insurance contracts | (749) | 55 | 2 | (692)
Exchange differences | 820 | 228 | 51 | 1,099
Cash flows | 2,345 | 30 | (1,437) | 938
Final balance | 7,871 | 1,286 | 974 | 10,131
Variation in liabilities under Insurance and Reinsurance contracts by valuation components [Table Text Block] | Likewise, the variation of liabilities under insurance and reinsurance contracts, distinguishing between their different valuation components for the years 2023 and 2022 is shown below:
Variation in liabilities under insurance and reinsurance contracts analyzed by valuation component. December 2023 (Millions of Euros)
| Estimated present value of future cash flows | Risk adjustment | Contractual service margin ⁽¹⁾ | Total
Initial balance | 8,056 | 150 | 1,097 | 9,303
Insurance service result | (384) | — | (23) | (406)
Changes that relate to current services | (749) | (26) | (185) | (960)
Contractual service margin release | — | — | (185) | (185)
Risk adjustment release | — | (26) | — | (26)
Experience adjustments | (749) | — | — | (749)
Changes that relate to future services | (189) | 26 | 163 | —
Changes in estimates that adjust the contractual service margin | 35 | (6) | (36) | (7)
Changes in estimates that result in losses (reversals) on onerous contracts | (6) | — | 4 | (2)
Contracts initially recognized in the year | (218) | 32 | 194 | 8
Changes that relate to past services | 554 | — | — | 554
Adjustments to liability for incurred claims | 554 | — | — | 554
Financial income/ expenses from insurance contracts | 508 | 11 | 45 | 564
Exchange rate differences | 935 | 6 | 94 | 1,035
Cash flows | 623 | — | — | 623
Contracts transferred to / from a third party | — | — | — | —
Final balance | 9,738 | 167 | 1,213 | 11,118
(1) In general the transitional approach for calculating the contractual service margin has been the fair value approach for long-term contracts and the full retrospective approach for short-term contracts (see Note 2.3).
Variation in liabilities under insurance and reinsurance contracts analyzed by valuation component. December 2022 (Millions of Euros)
| Estimated present value of future cash flows | Risk adjustment | Contractual service margin ⁽¹⁾ | Total
Initial balance | 7,945 | 112 | 948 | 9,006
Insurance service result | (606) | 46 | 49 | (511)
Changes that relate to current services | (750) | (14) | (144) | (908)
Contractual service margin release | — | — | (144) | (144)
Risk adjustment release | — | (14) | — | (14)
Experience adjustments | (750) | — | — | (750)
Changes that relate to future services | (270) | 60 | 193 | (17)
Changes in estimates that adjust the contractual service margin | (50) | 45 | 3 | (3)
Changes in estimates that result in losses (reversals) on onerous contracts | (15) | — | (3) | (19)
Contracts initially recognized in the year | (204) | 15 | 194 | 5
Changes that relate to past services | 413 | — | — | 413
Adjustments to liability for incurred claims | 413 | — | — | 413
Financial income/ expenses from insurance contracts | (704) | (20) | 29 | (694)
Exchange rate differences | 1,009 | 11 | 72 | 1,093
Cash flows | 412 | — | — | 412
Contracts transferred to / from a third party | — | — | — | —
Final balance | 8,056 | 150 | 1,097 | 9,303
(1) In general the transitional approach for calculating the contractual service margin has been the fair value approach for long-term contracts and the full retrospective approach for short-term contracts (see Note 2.3).
Maturity of liabilities under insurance and reinsurance contracts [Table Text Block] | The maturity of those “Liabilities under insurance and reinsurance contracts” are shown below:
Maturity of the liabilities under insurance and reinsurance contracts (Millions of Euros)
| Up to 1 year | 1 to 3 years | 3 to 5 years | Over 5 years | Total
2023 | 1,356 | 962 | 2,425 | 7,367 | 12,110
2022 ⁽¹⁾ | 1,754 | 663 | 1,664 | 6,050 | 10,131
(1) Balances corresponding to 2022 have been restated according to IFRS 17 (see Notes 1.3 and 2.3).
Maturity of liabilities under insurance and reinsurance contracts under IFRS 4 [Table Text Block] | The cash flows of the “Liabilities under insurance and reinsurance contracts” under IFRS 4 as of December 31, 2021 are shown below:
Maturity (Millions of Euros). Liabilities under insurance and reinsurance contracts
| Up to 1 year | 1 to 3 years | 3 to 5 years | Over 5 years | Total
2021 | 1,808 | 290 | 1,664 | 7,103 | 10,865
Mathematical reserves for insurance products [Table Text Block] | The table below shows the key assumptions under IFRS 4 as of December 31, 2021 used in the calculation of the mathematical reserves for insurance products in Spain and Mexico, respectively:
Mathematical reserves
|  | 2021 |
|  |  | Mortality table | Average technical interest rate |  |
|  |  |  |  | Spain | Mexico | Spain | Mexico |  |  |  |
Individual life insurance (1) |  |  |  |  | GRMF 80-2, GKM 80 / GKMF 95, PASEM, GKMF 80/95, PERFM 2000 | Tables of the Comisión Nacional de Seguros y Fianzas 2000-individual | 0.24%- 2.85% | 3.60% |  |  |  |
Group insurance (2) |  |  |  |  | PERFM 2000 | Tables of the Comisión Nacional de Seguros y Fianzas 2000-grupo | Depending on the related portfolio | 5.50 % |  |  |  |
(1) Provides coverage in the case of one or more of the following events: death, disability and / or serious illness. (2) Insurance policies purchased by companies (other than BBVA Group entities) on behalf of their employees.

X
- Definition Assets and Liabilities under reinsurance and insurance contracts [Abstract] + References No definition available. + Details
Name: | bbva_AssetsAndLiabilitiesUnderReinsuranceAndInsuranceContractsAbstract
Namespace Prefix: | bbva_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Liabilities under Insurance and Reinsurance Contracts + References No definition available. + Details
Name: | bbva_LiabilitiesUnderInsuranceAndReinsuranceContractsTableTextBlock
Namespace Prefix: | bbva_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Liaiblities under Insurance and Reinsurance Contracts by type of product + References No definition available. + Details
Name: | bbva_LiaiblitiesUnderInsuranceAndReinsuranceContractsByTypeOfProductTableTextBlock
Namespace Prefix: | bbva_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Mathematical reserves for insurance products + References No definition available. + Details
Name: | bbva_MathematicalReservesForInsuranceProductsTableTextBlock
Namespace Prefix: | bbva_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Maturity of liabilities under insurance and reinsurance contracts + References No definition available. + Details
Name: | bbva_MaturityOfLiabilitiesUnderInsuranceAndReinsuranceContractsTableTextBlock
Namespace Prefix: | bbva_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Maturity of liabilities under insurance and reinsurance contracts under IFRS 4 + References No definition available. + Details
Name: | bbva_MaturityOfLiabilitiesUnderInsuranceAndReinsuranceContractsUnderIFRS4TableTextBlock
Namespace Prefix: | bbva_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Variation in liabilities under Insurance and Reinsurance Contracts analyzed by liabilities for the remaining coverage and liabilities for incurred claims + References No definition available. + Details
Name: | bbva_VariationInLiabilitiesUnderInsuranceAndReinsuranceContractsAnalyzedByLiabilitiesForTheRemainingCoverageAndLiabilitiesForIncurredClaimsTableTextBlock
Namespace Prefix: | bbva_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Variation in liabilities under Insurance and Reinsurance contracts analyzed by valuation components + References No definition available. + Details
Name: | bbva_VariationInLiabilitiesUnderInsuranceAndReinsuranceContractsByValuationComponentsTableTextBlock
Namespace Prefix: | bbva_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration