XML 241 R105.htm IDEA: XBRL DOCUMENT v3.20.1
Insurance contracts (Tables)
 12 Months Ended
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.