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ACCOUNTS RECEIVABLE AND PAYABLE FROM INSURANCE CONTRACTS
 12 Months Ended
Dec. 31, 2018
Disclosure Of insurance contracts explanatory [Abstract]  
Disclosure of insurance contracts [text block]
9
ACCOUNTS RECEIVABLE AND PAYABLE FROM INSURANCE CONTRACTS
 
 
a)
As of December 31, 2018 and 2017, “Premiums and other policies receivable” in the consolidated statement of financial position includes balances for approximately S/887.3 million and S/656.8 million, respectively, which are primarily of current maturity, have no specific collateral and present no material past due balances.
 
 
b)
The movements of the captions “Accounts receivable and payable to reinsurers and coinsurers” are as follows:
 
Accounts receivable:
 
 
 
2018
 
 
2017
 
 
2016
 
 
 
S/(000)
 
 
S/(000)
 
 
S/(000)
 
 
 
 
 
 
 
 
 
 
 
Balances at the beginning of the period
 
 
715,695
 
 
 
454,187
 
 
 
457,189
 
Reported claims of premiums ceded, Note 25
 
 
367,969
 
 
 
483,387
 
 
 
145,498
 
Premiums ceded unearned during the year, Note 24(a)(**)
 
 
34,709
 
 
 
21,192
 
 
 
(9,139
)
Premiums assumed
 
 
5,882
 
 
 
2,341
 
 
 
4,977
 
Settled claims of premiums ceded by reinsurance contracts
 
 
(238,936
)
 
 
(231,298
)
 
 
(90,550
)
Collections and others, net
 
 
(43,276
)
 
 
(14,114
)
 
 
(53,788
)
Balances at the end of the period
 
 
842,043
 
 
 
715,695
 
 
 
454,187
 
 
Accounts receivable as of December 31, 2018 and 2017, include S/152.9 million and S/151.6 million, respectively, which correspond to the unearned portion of the premiums ceded to the reinsurers.
 
Accounts Payable:
 
 
 
2018
 
 
2017
 
 
2016
 
 
 
S/(000)
 
 
S/(000)
 
 
S/(000)
 
 
 
 
 
 
 
 
 
 
 
Balances at the beginning of the period
 
 
235,185
 
 
 
233,892
 
 
 
241,847
 
Premiums ceded for automatic contracts (mainly excess of loss), Note 24(a)(**)
 
 
243,427
 
 
 
257,617
 
 
 
201,892
 
Premiums ceded to reinsurers in facultative contracts, Note 24(a)(**)
 
 
288,928
 
 
 
263,378
 
 
 
292,555
 
Coinsurance granted
 
 
11,433
 
 
 
5,925
 
 
 
5,965
 
Payments and other, net
 
 
(487,280
)
 
 
(525,627
)
 
 
(508,367
)
Balances at the end of the period
 
 
291,693
 
 
 
235,185
 
 
 
233,892
 
 
Accounts payable to reinsurers are primarily related to proportional facultative contracts (on an individual basis) for ceded premiums, automatic non-proportional contracts (excess loss) and reinstallation premiums. For facultative contracts the Group transfers to the reinsurers a percentage or an amount of an insurance contract or individual risk, based on the premium and the coverage period.