HSBC 2005 Annual Report Download - page 261

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5 Net insurance claims incurred and movement in policyholders’ liabilities
2005
Non-life
insurance
Life
insurance
(non-linked)
Life
insurance
(linked)
Investment
contracts with
discretionary
participation
features Total
US$m US$m US$m US$m US$m
Claims, benefits and
surrenders paid ...................... 966 621 357 – 1,944
Movement in liabilities .............. 72 1,683 445 9 2,209
Gross claims incurred and
movement in liabilities .......... 1,038 2,304 802 9 4,153
Reinsurers’ share of claims,
benefits and surrenders
paid ........................................ (146) (111) (11) – (268)
Reinsurers’ share of
movement in liabilities .......... 2 191 (11) – 182
Reinsurers’ share of claims
incurred and movement in
liabilities................................. (144) 80 (22) – (86)
Net insurance claims incurred
and movement in
policyholders’ liabilities ........ 894 2,384 780 9 4,067
6 Net operating income
Net operating income for the year ended 31 December 2005 is stated after the following items of income, expense,
gains and losses:
2005
US$m
Income
Interest recognised on impaired financial assets .............................................................................................................. 120
Fees earned on financial assets or liabilities not held for trading nor designated at fair value, other than
fees included in effective interest rate calculations on these types of assets and liabilities ......................................... 9,077
Fees earned on trust and other fiduciary activities where HSBC holds or invests assets on behalf
of its customers ............................................................................................................................................................ 2,912
Income from listed investments1 ...................................................................................................................................... 6,819
Expense
Interest on financial instruments, excluding interest on financial liabilities held for trading or designated
at fair value .................................................................................................................................................................. (26,627)
Fees payable on financial assets or liabilities not held for trading nor designated at fair value, other than
fees included in effective interest rate calculations on these types of assets and liabilities ......................................... (1,357)
Fees payable relating to trust and other fiduciary activities where HSBC holds or invests assets on behalf
of its customers ............................................................................................................................................................ (238)
Gains/(losses)
Loss on disposal or settlement of loans and advances ..................................................................................................... (12)
Gain on disposal or settlement of financial liabilities, other than those held for trading, designated at
fair value or derivatives ............................................................................................................................................... 22
Net impairment loss on loans and advances .................................................................................................................... (7,860)
Net reversal of impairment allowances in respect of available-for-sale financial investments ........................................ 42
Gains on disposal of property, plant and equipment and non-financial investments ....................................................... 703
1Income from listed investments at 31 December 2004 was US$5,166 million.