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Insurance contracts and private pension (Tables)
 12 Months Ended
Dec. 31, 2022
Insurance Contracts And Private Pension  
Summary of Main Insurance lines
             
Main Insurance Lines Sales ratio %   Loss ratio %
01/01 to 12/31/2022 01/01 to 12/31/2021 01/01 to 12/31/2020   01/01 to 12/31/2022 01/01 to 12/31/2021 01/01 to 12/31/2020
Group Accident Insurance 30.5% 31.5% 33.8%   17.0% 14.5% 11.3%
Individual Accident Insurance 18.4% 18.7% 18.8%   25.6% 26.7% 29.4%
Credit Life Insurance 22.3% 22.9% 24.2%   19.3% 26.1% 22.3%
Random Events 23.7% 23.3% 23.5%   28.8% 32.0% 34.3%
Multiple Peril 42.7% 43.1% 44.4%   19.3% 24.0% 52.9%
Mortagage Insurance in Market Policies – Credit Life Insurance 20.1% 20.3% 20.4%   11.1% 26.5% 18.5%
Group Life 23.8% 23.8% 24.0%   35.5% 53.5% 41.0%
Summary of Revenue From Insurance and Private Pension
     
Main lines Premiums and contributions
01/01 to 12/31/2022 01/01 to 12/31/2021 01/01 to 12/31/2020
Group Accident Insurance 973 883 847
Individual Accident Insurance 149 175 187
Disability Savings Pension 292 240 258
PGBL 2,974 2,460 2,235
Credit Life Insurance 1,412 1,008 624
Random Events 216 192 195
Multiple Peril 645 542 370
Mortagage Insurance in Market Policies – Credit Life Insurance 571 437 339
Traditional 123 128 117
VGBL 8,496 7,054 8,022
Group Life 1,422 1,165 955
Other lines 849 739 655
Total 18,122 15,023 14,804
Schedule of change in technical provisions
             
  12/31/2022   12/31/2021
  Insurance Private Pension Total   Insurance Private Pension Total
Unearned premiums (PPNG) 3,615 12 3,627   2,846 12 2,858
Mathematical provisions for benefits to be granted (PMBAC) and granted benefits (PMBC) 30 228,786 228,816   19 209,196 209,215
Redemptions and Other Unsettled Amounts (PVR) 23 394 417   19 358 377
Financial surplus (PEF) - 729 729   1 691 692
Unsettled claims (PSL) 503 74 577   506 79 585
Claims / events incurred but not reported (IBNR) 345 26 371   334 27 361
Related Expenses (PDR) 32 49 81   29 65 94
Other provisions 135 397 532   129 665 794
Total 4,683 230,467 235,150   3,883 211,093 214,976
Current 3,588 159 3,747   3,102 541 3,643
Non-current 1,095 230,308 231,403   781 210,552 211,333

 

 

IV - Change in technical provisions

             
    12/31/2022   12/31/2021
    Insurance Private pension Total   Insurance Private pension Total
Opening balance - 01/01 3,883 211,093 214,976   3,303 217,697 221,000
(+) Additions arising from premiums / contributions 6,254 11,632 17,886   5,106 9,676 14,782
(-) Deferral due to elapsed risk (5,485) - (5,485)   (4,563) - (4,563)
(-) Payment of claims / benefits (1,506) (465) (1,971)   (1,598) (373) (1,971)
(+) Reported claims 1,477 - 1,477   1,534 - 1,534
(-) Redemptions - (15,127) (15,127)   - (16,872) (16,872)
(+/-) Net Portability - 1,962 1,962   - (3,417) (3,417)
(+) Adjustment of reserves and financial surplus 10 21,591 21,601   14 5,009 5,023
(+/-) Other (increase / reversal) 50 (219) (169)   83 (627) (544)
(+/-) Corporate Reorganization - - -   4 - 4
Closing balance 4,683 230,467 235,150   3,883 211,093 214,976
Through actuarial models based mainly on the portfolio historical experience and on macroeconomic projections, ITAÚ UNIBANCO HOLDING establishes the assumptions that influence the assessment of technical provisions. The assumptions are reassessed annually by experts of the actuarial and risk area, and are subsequently submitted to the executive’s approval. The effects on assumptions are recognized in income for the period in which they occurred.
Schedule of change in technical provisions
             
    12/31/2022   12/31/2021
    Insurance Private pension Total   Insurance Private pension Total
Opening balance - 01/01 3,883 211,093 214,976   3,303 217,697 221,000
(+) Additions arising from premiums / contributions 6,254 11,632 17,886   5,106 9,676 14,782
(-) Deferral due to elapsed risk (5,485) - (5,485)   (4,563) - (4,563)
(-) Payment of claims / benefits (1,506) (465) (1,971)   (1,598) (373) (1,971)
(+) Reported claims 1,477 - 1,477   1,534 - 1,534
(-) Redemptions - (15,127) (15,127)   - (16,872) (16,872)
(+/-) Net Portability - 1,962 1,962   - (3,417) (3,417)
(+) Adjustment of reserves and financial surplus 10 21,591 21,601   14 5,009 5,023
(+/-) Other (increase / reversal) 50 (219) (169)   83 (627) (544)
(+/-) Corporate Reorganization - - -   4 - 4
Closing balance 4,683 230,467 235,150   3,883 211,093 214,976
Through actuarial models based mainly on the portfolio historical experience and on macroeconomic projections, ITAÚ UNIBANCO HOLDING establishes the assumptions that influence the assessment of technical provisions. The assumptions are reassessed annually by experts of the actuarial and risk area, and are subsequently submitted to the executive’s approval. The effects on assumptions are recognized in income for the period in which they occurred.
Summary of Deferred Acquisition Costs
   
    12/31/2022 12/31/2021
Opening Balance - 01/01 631 496
Increase 1,559 1,298
Amortization (1,379) (1,163)
Closing Balance 811 631
Balance to be amortized in up to 12 months 573 464
Balance to be amortized after 12 months 238 167
Schedule of judicial claims net of reinsurance
   
Provision for unsettled claims (PSL)   577
(-) IBNER   213
(-) Reinsurance   12
(-) Retrocession and other estimates   (7)
Liability claims presented in the claims development table (I + II)   359
The amount of obligations of the ITAÚ UNIBANCO HOLDING may change. The first part of the table below shows how the final loss estimate changes through time. The second part of the table reconciles the amounts pending payment and the liability disclosed in the balance sheet.

I - Administrative claims - net of reinsurance

           
Occurrence date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 Total
At the end of reporting period 954 1,121 1,231 1,401 1,413  
After 1 year 1,012 1,133 1,237 1,491    
After 2 years 1,015 1,133 1,245      
After 3 years 1,012 1,135        
After 4 years 1,007          
Current estimate 1,007 1,135 1,245 1,491 1,413  
Accumulated payments through base date 998 1,126 1,236 1,476 1,316 6,152
Liabilities recognized in the balance sheet 9 9 9 15 97 139
Liabilities in relation to prior periods           55
Total administrative claims           194

 

 

II - Judicial claims - net of reinsurance

           
Occurrence date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 Total
At the end of reporting period 16 20 12 12 15  
After 1 year 33 36 23 27    
After 2 years 47 43 31      
After 3 years 54 50        
After 4 years 58          
Current estimate 58 50 31 27 15  
Accumulated payments through base date 49 37 19 14 5 124
Liabilities recognized in the balance sheet 9 13 12 13 10 57
Liabilities in relation to prior periods           108
Total judicial claims           165
The breakdown of the claims development table into administrative and judicial shows the reallocation of admininstrative claims up to a certain base date and that become judicial claims afterwards, which may give the wrong impression of need for adjusting the provisions in each breakdown.
Schedule of judicial claims net of reinsurance
           
Occurrence date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 Total
At the end of reporting period 954 1,121 1,231 1,401 1,413  
After 1 year 1,012 1,133 1,237 1,491    
After 2 years 1,015 1,133 1,245      
After 3 years 1,012 1,135        
After 4 years 1,007          
Current estimate 1,007 1,135 1,245 1,491 1,413  
Accumulated payments through base date 998 1,126 1,236 1,476 1,316 6,152
Liabilities recognized in the balance sheet 9 9 9 15 97 139
Liabilities in relation to prior periods           55
Total administrative claims           194

 

 

II - Judicial claims - net of reinsurance

           
Occurrence date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 Total
At the end of reporting period 16 20 12 12 15  
After 1 year 33 36 23 27    
After 2 years 47 43 31      
After 3 years 54 50        
After 4 years 58          
Current estimate 58 50 31 27 15  
Accumulated payments through base date 49 37 19 14 5 124
Liabilities recognized in the balance sheet 9 13 12 13 10 57
Liabilities in relation to prior periods           108
Total judicial claims           165
The breakdown of the claims development table into administrative and judicial shows the reallocation of admininstrative claims up to a certain base date and that become judicial claims afterwards, which may give the wrong impression of need for adjusting the provisions in each breakdown.
Schedule of judicial claims net of reinsurance
           
Occurrence date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 Total
At the end of reporting period 16 20 12 12 15  
After 1 year 33 36 23 27    
After 2 years 47 43 31      
After 3 years 54 50        
After 4 years 58          
Current estimate 58 50 31 27 15  
Accumulated payments through base date 49 37 19 14 5 124
Liabilities recognized in the balance sheet 9 13 12 13 10 57
Liabilities in relation to prior periods           108
Total judicial claims           165
The breakdown of the claims development table into administrative and judicial shows the reallocation of admininstrative claims up to a certain base date and that become judicial claims afterwards, which may give the wrong impression of need for adjusting the provisions in each breakdown.