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v3.20.1

Insurance contracts (Tables) | 12 Months Ended
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Dec. 31, 2019
Disclosure of types of insurance contracts [line items] |
Summary of Sensitivity Analysis of Net Income and Shareholders' Equity to Changes in Various Underwriting Risks | Sensitivity analysis of net income and shareholders’ equity to changes in various underwriting risks
|  | 2019 |  |  | 2018 |
Estimated approximate effect |  | On shareholders’ equity |  |  | On net income |  |  | On shareholders’ equity |  |  | On net income |
20% increase in lapse rates |  |  | 152 |  |  |  | 143 |  |  |  | 94 |  |  |  | 109 |
20% decrease in lapse rates |  |  | (169 | ) |  |  | (156 | ) |  |  | (139 | ) |  |  | (154 | )
5% increase in mortality rates |  |  | 261 |  |  |  | 192 |  |  |  | 252 |  |  |  | 63 |
5% decrease in mortality rates |  |  | (322 | ) |  |  | (240 | ) |  |  | (418 | ) |  |  | (210 | )
10% increase in morbidity rates |  |  | (370 | ) |  |  | (376 | ) |  |  | (525 | ) |  |  | (446 | )
10% decrease in morbidity rates |  |  | 191 |  |  |  | 196 |  |  |  | 183 |  |  |  | 125 |
Summary of Insurance Contracts for General Account |
|  | 2019 |  | 2018
Life insurance |  |  | 109,879 |  |  |  | 102,452 |
Non-life insurance |  |  |  |  |  |  |  |
- Unearned premiums and unexpired risks |  |  | 6,002 |  |  |  | 5,341 |
- Outstanding claims |  |  | 2,417 |  |  |  | 2,338 |
- Incurred but not reported claims |  |  | 772 |  |  |  | 820 |
Incoming reinsurance |  |  | 4,385 |  |  |  | 4,377 |
At December 31 |  |  | 123,454 |  |  |  | 115,328 |
|  | 2019 |  | 2018
Non-life insurance: |  |  |  |  |  |  |  |
- Accident and health insurance |  |  | 8,955 |  |  |  | 8,247 |
- General insurance |  |  | 235 |  |  |  | 252 |
Total non-life insurance |  |  | 9,190 |  |  |  | 8,499 |
Movements during the year in life insurance: |  | 2019 |  |  | 2018 |
At January 1 |  |  | 102,452 |  |  |  | 98,452 |
Disposals |  |  | (44 | ) |  |  | - |
Portfolio transfers and acquisitions |  |  | (8 | ) |  |  | 95 |
Gross premium and deposits – existing and new business |  |  | 6,913 |  |  |  | 6,293 |
Unwind of discount / interest credited |  |  | 3,795 |  |  |  | 3,711 |
Insurance liabilities released |  |  | (9,921 | ) |  |  | (9,582 | )
Changes in valuation of expected future benefits |  |  | 800 |  |  |  | 617 |
Loss recognized as a result of liability adequacy testing |  |  | 1,587 |  |  |  | 49 |
Shadow accounting adjustments |  |  | 1,948 |  |  |  | (299 | )
Net exchange differences |  |  | 1,271 |  |  |  | 3,087 |
Transfer (to) / from reinsurance assets |  |  | 18 |  |  |  | - |
Transfer (to) / from insurance contracts for account of policyholders |  |  | 1,050 |  |  |  | 27 |
Other |  |  | 17 |  |  |  | 1 |
At December 31 |  |  | 109,879 |  |  |  | 102,452 |
Summary of Movements in Insurance |
Movements during the year in non-life insurance: |  | 2019 |  |  | 2018 |
At January 1 |  |  | 8,499 |  |  |  | 8,484 |
Gross premiums – existing and new business |  |  | 1,594 |  |  |  | 1,563 |
Unwind of discount / interest credited |  |  | 481 |  |  |  | 450 |
Insurance liabilities released |  |  | (1,087 | ) |  |  | (1,052 | )
Changes in valuation of expected future claims |  |  | (7 | ) |  |  | (8 | )
Change in unearned premiums |  |  | (720 | ) |  |  | (742 | )
Change in unexpired risks |  |  | 2 |  |  |  | 2 |
Incurred related to current year |  |  | 718 |  |  |  | 747 |
Incurred related to prior years |  |  | 316 |  |  |  | 195 |
Release for claims settled current year |  |  | (292 | ) |  |  | (278 | )
Release for claims settled prior years |  |  | (788 | ) |  |  | (704 | )
Shadow accounting adjustments |  |  | 422 |  |  |  | (459 | )
Change in IBNR |  |  | (73 | ) |  |  | (51 | )
Net exchange differences |  |  | 131 |  |  |  | 354 |
Other |  |  | (5 | ) |  |  | (2 | )
At December 31 |  |  | 9,191 |  |  |  | 8,499 |
Movements during the year in incoming reinsurance: |  | 2019 |  |  | 2018 |
At January 1 |  |  | 4,377 |  |  |  | 3,913 |
Gross premium and deposits – existing and new business |  |  | 1,397 |  |  |  | 1,441 |
Unwind of discount / interest credited |  |  | 211 |  |  |  | 199 |
Insurance liabilities released |  |  | (1,668 | ) |  |  | (1,557 | )
Changes in valuation of expected future benefits |  |  | (30 | ) |  |  | 190 |
Shadow accounting adjustments |  |  | 12 |  |  |  | (11 | )
Loss recognized as a result of liability adequacy |  |  | 3 |  |  |  | (4 | )
Net exchange differences |  |  | 81 |  |  |  | 205 |
Other |  |  | 2 |  |  |  | 2 |
At December 31 |  |  | 4,385 |  |  |  | 4,377 |
Insurance contracts for account of policyholders |  | 2019 |  |  | 2018 |
At January 1 |  |  | 117,113 |  |  |  | 122,168 |
Disposal of a business |  |  | (196 | ) |  |  | - |
Portfolio transfers and acquisitions |  |  | (10 | ) |  |  | (140 | )
Gross premium and deposits – existing and new business |  |  | 9,122 |  |  |  | 9,716 |
Unwind of discount / interest credited |  |  | 19,780 |  |  |  | (5,311 | )
Insurance liabilities released |  |  | (11,103 | ) |  |  | (10,471 | )
Fund charges released |  |  | (1,677 | ) |  |  | (1,671 | )
Changes in valuation of expected future benefits |  |  | 861 |  |  |  | (245 | )
Transfer (to) / from insurance contracts |  |  | (1,050 | ) |  |  | (27 | )
Net exchange differences |  |  | 2,868 |  |  |  | 3,092 |
Other |  |  | 2 |  |  |  | 2 |
At December 31 |  |  | 135,710 |  |  |  | 117,113 |
Insurances Contracts [Member] |
Disclosure of types of insurance contracts [line items] |
Summary of Movements in Insurance |
Sensitivity analysis of net income and shareholders’ equity |  | Estimated approximate effects on net income |  |  | Estimated approximate effects on shareholders’ equity |
2019 |  |  |  |  |  |  |  |
Shift up 50 basis points - Bond credit spreads |  |  | (205 | ) |  |  | (2,386 | )
Shift down 50 basis points - Bond credit spreads |  |  | 198 |  |  |  | 2,117 |
Shift up 50 basis points - Mortgage spreads |  |  | (440 | ) |  |  | (440 | )
Shift down 50 basis points - Mortgage spreads |  |  | 467 |  |  |  | 467 |
Shift up 5 basis points - Liquidity premium |  |  | 104 |  |  |  | 101 |
Shift down 5 basis points - Liquidity premium |  |  | (105 | ) |  |  | (103 | )
1 | The sensitivities shown above were collected for the first time in 2019, therefore we do not provide comparatives.

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