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Provisions
 12 Months Ended
Dec. 31, 2022
Provisions  
Provisions

15 Provisions

 
  
2022
  
 
  
US $
in millions
  
Balance at the beginning of the year
  
 
28.3
  
Provisions added during the year
  

 
31.9
  
Provisions utilized during the year
  

 
(7.3
 )
Provisions reversed during the year
  

 
(2.7
 )
Balance at the end of the year
  

 
50.2
  
  Legal contingencies
  For legal matters addressed against the Group, see Note 27.
   
  Claims covered by insurance
  Claims covered by insurance represent mainly claims for damage to customers’ cargo that was shipped at the responsibility of the Company. The Company has agreements with insurance companies that indemnify it in respect of such damages (other than the deductible amounts provided in the insurance agreements). Regarding assets that were recognized in respect thereto, see Note 8, insurance recoveries.