TECHNICAL RESERVES FOR INSURANCE CLAIMS AND PREMIUMS (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of insurance claim reserves and technical reserves [Abstract]

Disclosure of detailed information about insurance claim reserves [Text Block]

This item consists of the following:

	2018
	Technical reserves for claims		Technical reserves for premiums (*)		Total
	S/(000)		S/(000)		S/(000)

Life insurance		732,868		6,329,512		7,062,380
General insurance		562,430		593,938		1,156,368
Health insurance		71,372		162,551		233,923
Total		1,366,670		7,086,001		8,452,671

	2017
	Technical reserves for claims		Technical reserves for premiums (*)		Total
	S/(000)		S/(000)		S/(000)

Life insurance		626,871		5,599,777		6,226,648
General insurance		484,608		513,826		998,434
Health insurance		69,373		149,305		218,678
Total		1,180,852		6,262,908		7,443,760

(*)

At December 31, 2018, the life insurance technical reserves include the mathematical reserves of life annuities amounting to S/4,073.3 million (S/3,514.4 million at December 31, 2017).

Disclosure of detailed information about movement in direct and assumed insurance claim reserves [Text Block]

Movement of insurance claims reserves (direct and assumed), occurred during the years 2018 and 2017:

	2018
	Life insurance			General insurance			Health insurance			Total
	S/(000)			S/(000)			S/(000)			S/(000)

Beginning balance		626,871			484,608			69,373			1,180,852
Claims, Note 25		737,982			562,440			307,182			1,607,604
Payments		(635,345	)		(505,069	)		(305,257	)		(1,445,671	)
Exchange difference		3,360			20,451			74			23,885
Ending balance		732,868			562,430			71,372			1,366,670

	2017
	Life insurance			General insurance			Health insurance			Total
	S/(000)			S/(000)			S/(000)			S/(000)

Beginning balance		551,516			325,748			60,733			937,997
Claims, Note 25		646,026			661,108			294,557			1,601,691
Payments		(569,108	)		(491,108	)		(285,899	)		(1,346,115	)
Exchange difference		(1,563	)		(11,140	)		(18	)		(12,721	)
Ending balance		626,871			484,608			69,373			1,180,852

Disclosure of detailed information about movement in technical insurance claim reserves [Text Block]

Technical reserves occurred during the years 2018 and 2017:

	2018
	Life insurance			General insurance			Health insurance			Total
	S/(000)			S/(000)			S/(000)			S/(000)

Beginning balance		5,599,777			513,826			149,305			6,262,908
Time course expenses and others		(117,965	)		–			–			(117,965	)
Unearned premium and other technical reserves variation, net		1,901			64,302			13,146			79,349
Insurance subscriptions		724,458			–			–			724,458
Exchange difference and others		121,341			15,810			100			137,251
Ending balance		6,329,512			593,938			162,551			7,086,001

	2017
	Life insurance			General insurance			Health insurance			Total
	S/(000)			S/(000)			S/(000)			S/(000)

Beginning balance		5,128,974			574,435			144,783			5,848,192
Time course expenses and others		77,855			–			–			77,855
Unearned premium and other technical reserves variation, net		127			(28,992	)		4,621			(24,244	)
Insurance subscriptions		491,519			–			–			491,519
Exchange difference and others		(98,698	)		(31,617	)		(99	)		(130,414	)
Ending balance		5,599,777			513,826			149,305			6,262,908

Disclosure of detailed information about assumptions used in estimation of insurance reserves [Text Block]

At December 31, 2018 and 2017 no additional reserves were needed as a result of the liability adequacy test. The main assumptions used to estimate of retirement, disability and survival annuities and individual life (including Investment link insurance contracts) reserves, as of those dates, are as follows:

	At December 31, 2018		At December 31, 2017
Mortality	Mortality table	Technical rates	Mortality table	Technical rates
Annuities	SPP-S-2017 and SPP-I- 2017	Between 3.81 % - 7.99 % / Between 2.50 % - 5.25 %	SPP-S-2017 and SPP-I- 2017	Between 2.90 % - 7.93 % / Between 2.50 % - 5.25 %
Pension insurance – Temporary Regime / SCTR (*)	B-85 and MI-85	3.00% soles VAC	B-85 and MI-85	3.00% soles VAC
Pension insurance – Definitive Regime	B-85 and MI-85	2.96 % soles VAC / 4.40 % nominal dollars	B-85 and MI-85	3.31 % soles VAC / 4.66 % nominal dollars
Pension insurance – Definitive Regime / SCTR	B-85 adjusted and MI-85	Between 3.00 %, 2.96 % soles VAC / 4.40 % nominal dollars / 5.82 % soles adjusted / 4.40 % dollars adjusted	B-85 adjusted and MI-85	Between 3.00 %, 3.38 % soles VAC / 4.66 % nominal dollars / 6.35 % soles adjusted / 4.66 % dollars adjusted
Pension insurance – Temporary Regime /SCTR (Longevity)	SPP-S-2017- and SPP-I-2017	Between 3.7910 %, 3.915 % soles VAC	SPP-S-2017- and SPP-I-2017	Between 3.81 %, 3.88 % soles VAC
Individual life	CSO 80 adjusted	Between 4.00 % - 5.00 %	CSO 80 adjusted	Between 4.00 % - 5.00 %

(*)

Complementary Work Risk Insurance (SCTR the Spanish acronym).

Disclosure of detailed information about variations in the claim reserves by changes in interest rates and mortality tables [Text Block]

The Group has evaluated the changes in its most significant reserves related to life insurance contracts included in retirement, disability and survival annuities reserves of +/- 100 bps of the interest rates and of +/- 5 bps of the mortality factors, with the following results:

	At December 31, 2018								At December 31, 2017
			Variation of the reserve								Variation of the reserve
Variables	Reserve		Amount			Percentage			Reserve		Amount			Percentage
	S/(000)		S/(000)			%			S/(000)		S/(000)			%

Portfolio in S/ - Base amount		3,163,166		–			–			2,682,536		–			–
Changes in interest rates: + 100 bps		2,869,164		(294,001	)		(9.29	)		2,428,338		(254,198	)		(9.48	)
Changes in interest rates: - 100 bps		3,520,992		357,827			11.31			2,993,483		310,948			11.59
Changes in Mortality tables to 105%		3,141,047		(22,118	)		(0.70	)		2,660,474		(22,062	)		(0.82	)
Changes in Mortality tables to 95%		3,186,369		23,203			0.73			2,705,711		23,176			0.86

Portfolio in US$ - Base amount		518,160		–			–			519,317		–			–
Changes in interest rates: + 100 bps		473,054		(45,106	)		(8.70	)		473,067		(46,250	)		(8.91	)
Changes in interest rates: - 100 bps		571,943		53,783			10.38			574,664		55,347			10.66
Changes in Mortality tables to 105%		512,875		(5,285	)		(1.02	)		514,091		(5,226	)		(1.01	)
Changes in Mortality tables to 95%		523,707		5,547			1.07			524,801		5,484			1.06