HSBC 2008 Annual Report Download - page 423
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421
29 Other liabilities
HSBC HSBC Holdings
2008 2007 2008 2007
US$m US$m US$m US$m
Amounts due to investors in funds consolidated
by HSBC ................................................................... 44,539 3,548 – –
Obligations under finance leases (Note 42) ................. 563 703 – –
Dividend declared and payable by HSBC Holdings .... 1,795 1,393 1,795 1,393
Endorsements and acceptances ..................................... 10,482 12,248 – –
Other liabilities ............................................................. 15,005 17,121 21 12
72,384 35,013 1,816 1,405
30 Liabilities under insurance contracts
Gross
Reinsurers’
share Net
US$m US$m US$m
At 31 December 2008
Non-life insurance liabilities
Unearned premium provision .......................................................................... 1,136 (159) 977
Notified claims ................................................................................................. 908 (230) 678
Claims incurred but not reported ..................................................................... 368 (41) 327
Other ................................................................................................................ 68 – 68
2,480 (430) 2,050
Life insurance liabilities to policyholders
Life (non-linked) .............................................................................................. 17,370 (637) 16,733
Investment contracts with discretionary participation features1 ...................... 17,766 – 17,766
Life (linked) ..................................................................................................... 6,067 (956) 5,111
41,203 (1,593) 39,610
Total liabilities under insurance contracts ....................................................... 43,683 (2,023) 41,660
At 31 December 2007
Non-life insurance liabilities
Unearned premium provision .......................................................................... 1,279 (181) 1,098
Notified claims ................................................................................................. 1,063 (380) 683
Claims incurred but not reported ..................................................................... 420 (49) 371
Other ................................................................................................................ 92 (43) 49
2,854 (653) 2,201
Life insurance liabilities to policyholders
Life (non-linked) .............................................................................................. 14,370 (605) 13,765
Investment contracts with discretionary participation features1 ...................... 18,983 – 18,983
Life (linked) ..................................................................................................... 6,399 (57) 6,342
39,752 (662) 39,090
Total liabilities under insurance contracts ....................................................... 42,606 (1,315) 41,291
1 Though investment contracts with discretionary participation features are financial instruments, HSBC continued to treat them as
insurance contracts as permitted by IFRS 4.