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ACCOUNTS RECEIVABLE AND PAYABLE FROM INSURANCE CONTRACTS | 12 Months Ended
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Dec. 31, 2020
NET PREMIUMS EARNED |
ACCOUNTS RECEIVABLE AND PAYABLE FROM INSURANCE CONTRACTS | 9 ACCOUNTS RECEIVABLE AND PAYABLE FROM INSURANCE CONTRACTS a) As of December 31, 2020 and December 31, 2019, “Premiums and other policies receivable” in the consolidated statement of financial position includes balances for approximately S/937.2 million and S/838.7 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:
|  | 2020 |  | 2019 |  | 2018
|  | S/(000) |  | S/(000) |  | S/(000)
Balances as of January 1 |  | 791,704 |  | 842,043 |  | 715,695
Reported claims of premiums ceded, Note 26 |  | 283,041 |  | 321,375 |  | 367,969
Reserve risk in progress of premiums ceded, Note 25(a)(**) |  | 23,186 |  | (14,935) |  | 34,709
Premiums assumed |  | — |  | 668 |  | 5,882
Settled claims of premiums ceded by reinsurance contracts |  | (229,729) |  | (226,769) |  | (238,936)
Collections and others, net (i) |  | 51,217 |  | (130,678) |  | (43,276)
Balances at the end of the period |  | 919,419 |  | 791,704 |  | 842,043
Accounts receivable as of December 31, 2020 and December 31, 2019, include S/282.0 million and S/201.0 million, respectively, which correspond to the assigned portion of technical reserves for premiums ceded to the reinsurers. (i)As of December 31, 2020, the balance consists of collections made to reinsurers, which were reduced by S/10.0 million, as well as the effect of exchange difference for approximately S/55.0 million; As of December 31, 2019, collections made amounted to S/ 115.0 million and the effect of exchange difference for S/ (4.4) million. Accounts Payable:
|  | 2020 |  | 2019 |  | 2018
|  | S/(000) |  | S/(000) |  | S/(000)
Balances as of January 1 |  | 216,734 |  | 291,693 |  | 235,185
Premiums ceded for automatic contracts (mainly excess of loss), Note 25(a)(**) |  | 244,112 |  | 254,839 |  | 243,427
Premiums ceded to reinsurers in facultative contracts, Note 25(a)(**) |  | 327,098 |  | 289,386 |  | 288,928
Coinsurance granted |  | 753 |  | 4,332 |  | 11,433
Payments and other, net |  | (450,251) |  | (623,516) |  | (487,280)
Balances at the end of the period |  | 338,446 |  | 216,734 |  | 291,693
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.

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