RBS 2009 Annual Report Download - page 312

24 Insurance business Group
2009 2008 2007
£m £m £m
Insurance premium income 5,807 6,626 6,376
Reinsurers’ share (263) (300) (289)
Net premium income 5,544 6,326 6,087
Insurance claims 4,992 4,603 4,742
Reinsurers’ share (135) (173) (118)
Net claims 4,857 4,430 4,624
Group
2009 2008 2007
Insurance liabilities £m £m £m
Life assurance business:
Unit linked insurance contracts 292 256 364
Index linked insurance contracts 1,090 1,331 1,490
Participating bonds 2,793 2,602 2,544
Other insurance contracts 304 309 298
4,479 4,498 4,696
General insurance business 5,802 5,478 5,466
10,281 9,976 10,162
General insurance business
(i) Claims and loss adjustment expenses
Group
Gross Reinsurance Net
£m £m £m
Notified claims 3,894 (264) 3,630
Incurred but not reported 1,572 1 1,573
At 1 January 2008 5,466 (263) 5,203
Cash paid for claims settled in the year (3,969) 97 (3,872)
Increase/(decrease) in liabilities
– arising from current year claims 4,079 (45) 4,034
– arising from prior year claims (241) (66) (307)
Net exchange differences 143 (10) 133
At 31 December 2008 5,478 (287) 5,191
Notified claims 4,052 (260) 3,792
Incurred but not reported 1,426 (27) 1,399
At 1 January 2009 5,478 (287) 5,191
Cash paid for claims settled in the year (3,812) 69 (3,743)
Increase/(decrease) in liabilities
– arising from current year claims 4,383 (23) 4,360
– arising from prior year claims (79) (53) (132)
Disposal of subsidiary (124) 5 (119)
Net exchange differences (44) 3 (41)
At 31 December 2009 5,802 (286) 5,516
Notified claims 4,101 (276) 3,825
Incurred but not reported 1,701 (10) 1,691
At 31 December 2009 5,802 (286) 5,516
RBS Group Annual Report and Accounts 2009310
Notes on the accounts continued