32. Liabilities in respect of insurance activities

Annual Report
2019

Accounting policies

Liabilities in respect of insurance activities comprise technical reserves to cover current and future claims and costs which may arise from the insurance contracts concluded, i.e. unearned premium and unexpired risk reserves, outstanding claims and benefits reserve, reserve for bonuses and discounts for the insured, life insurance reserve, and other.

Financial information

LIABILITIES IN RESPECT OF INSURANCE ACTIVITIES 31.12.2019 31.12.2018
Technical reserves 1 640 1 292
Total 1 640 1 292

The majority of insurance products refer to investment products where the risk is borne by the policyholder.

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