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TECHNICAL RESERVES FOR INSURANCE CLAIMS AND PREMIUMS (Tables) | 12 Months Ended
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Dec. 31, 2019
TECHNICAL RESERVES FOR INSURANCE CLAIMS AND PREMIUMS |
Schedule of detailed information about insurance claim reserves | a) This item consists of the following:
|  | 2019
|  | Technical |  | Technical |  |
|  | reserves for |  | reserves for |  |
|  | claims |  | premiums (*) |  | Total
|  | S/(000) |  | S/(000) |  | S/(000)
Life insurance |  | 908,362 |  | 7,548,684 |  | 8,457,046
General insurance |  | 590,588 |  | 651,129 |  | 1,241,717
Health insurance |  | 77,278 |  | 174,192 |  | 251,470
Total |  | 1,576,228 |  | 8,374,005 |  | 9,950,233
|  | 2018
|  | Technical |  | Technical |  |
|  | reserves for |  | reserves for |  |
|  | claims |  | 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
(*)At December 31, 2019, the life insurance technical reserves include the mathematical reserves of income amounting to S/5,961.0 million (S/4,073.3 million at December 31, 2018).
Schedule of detailed information about movement in direct and assumed insurance claim reserves | b) Movement of insurance claims reserves (direct and assumed), occurred during the years 2019 and 2018:
|  | 2019
|  | Life |  | General |  | Health |  |
|  | insurance |  | insurance |  | insurance |  | Total
|  | S/(000) |  | S/(000) |  | S/(000) |  | S/(000)
Beginning balance |  | 732,868 |  | 562,430 |  | 71,372 |  | 1,366,670
Gross claims, Note 26 |  | 1,001,671 |  | 547,201 |  | 326,980 |  | 1,875,852
Payments |  | (822,644) |  | (510,678) |  | (321,085) |  | (1,654,407)
Exchange difference |  | (3,533) |  | (8,365) |  | 11 |  | (11,887)
Ending balance |  | 908,362 |  | 590,588 |  | 77,278 |  | 1,576,228
|  | 2018
|  | Life |  | General |  | Health |  |
|  | insurance |  | insurance |  | insurance |  | Total
|  | S/(000) |  | S/(000) |  | S/(000) |  | S/(000)
Beginning balance |  | 626,871 |  | 484,608 |  | 69,373 |  | 1,180,852
Gross claims, Note 26 |  | 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
Schedule of detailed information about movement in technical insurance claim reserves | c) Technical reserves occurred during the years 2019 and 2018:
|  | 2019
|  | Life |  | General |  | Health |  |
|  | insurance |  | insurance |  | insurance |  | Total
|  | S/(000) |  | S/(000) |  | S/(000) |  | S/(000)
Beginning balance |  | 6,329,512 |  | 593,938 |  | 162,551 |  | 7,086,001
Time course expenses and others |  | 67,989 |  | (3,891) |  | — |  | 64,098
Unearned premium and other technical reserves variation, net |  | (61,834) |  | 62,862 |  | 11,685 |  | 12,713
Insurance subscriptions |  | 604,262 |  | 8,692 |  | — |  | 612,954
Adjustment by application of market rates |  | 666,556 |  | — |  | — |  | 666,556
Exchange difference and others |  | (57,801) |  | (10,472) |  | (44) |  | (68,317)
Ending balance |  | 7,548,684 |  | 651,129 |  | 174,192 |  | 8,374,005
|  | 2018
|  | Life |  | General |  | Health |  |
|  | insurance |  | insurance |  | 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
Schedule of detailed information about assumptions used in estimation of insurance reserves | At December 31, 2019 and 2018 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, 2019 |  | At December 31, 2018 |
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 3.81% - 7.99% / 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 |  | 2.41% soles VAC / 4.26% nominal dollars |  | B-85 and MI-85 |  | 2.96% soles VAC / 4.40% nominal dollars |
Pension insurance – Definitive Regime / SCTR |  | B-85 adjusted and MI-85 |  | Between 2.41%, 3.00%, soles VAC / 4.26% nominal dollars / 5.67% soles adjusted / 4.26% dollars adjusted |  | 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 |
Pension insurance – Temporary Regime /SCTR (Longevity) |  | SPP-S-2017- and SPP-I-2017 |  | 3.816% soles VAC/Between 0.94% -2.83% soles VAC/ 3.771% soles VAC |  | SPP-S-2017- and SPP-I-2017 |  | Between 3.7910%, 3.915% 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).
Schedule of detailed information about variations in the claim reserves by changes in interest rates and mortality tables | 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, 2019 |  | At December 31, 2018
|  |  |  | Variation of the reserve |  |  |  | Variation of the reserve
Variables |  | Reserve |  | Amount |  | Percentage |  | Reserve |  | Amount |  | Percentage
|  |  |  |  |  | % |  |  |  |  |  | %
Portfolio in S/ - Base amount |  | 3,896,211 |  | — |  | — |  | 3,163,166 |  | — |  | —
Changes in interest rates: + 100 bps |  | 3,575,717 |  | (320,494) |  | (8.23) |  | 2,869,164 |  | (294,001) |  | (9.29)
Changes in interest rates: - 100 bps |  | 4,285,955 |  | 389,743 |  | 10.00 |  | 3,520,992 |  | 357,827 |  | 11.31
Changes in Mortality tables to 105% |  | 3,872,104 |  | (24,107) |  | (0.62) |  | 3,141,047 |  | (22,118) |  | (0.70)
Changes in Mortality tables to 95% |  | 3,922,178 |  | 25,967 |  | 0.67 |  | 3,186,369 |  | 23,203 |  | 0.73
Portfolio in US$- Base amount |  | 614,766 |  | — |  | — |  | 518,160 |  | — |  | —
Changes in interest rates: + 100 bps |  | 568,767 |  | (45,999) |  | (7.48) |  | 473,054 |  | (45,106) |  | (8.70)
Changes in interest rates: - 100 bps |  | 669,412 |  | 54,646 |  | 8.89 |  | 571,943 |  | 53,783 |  | 10.38
Changes in Mortality tables to 105% |  | 609,349 |  | (5,417) |  | (0.88) |  | 512,875 |  | (5,285) |  | (1.02)
Changes in Mortality tables to 95% |  | 620,430 |  | 5,664 |  | 0.92 |  | 523,707 |  | 5,547 |  | 1.07

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