RBS 2010 Annual Report Download - page 346
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26 Insurance business
Group
2010 2009 2008
£m £m £m
Insurance premium income 5,379 5,529 6,009
Reinsurers' share (251) (263) (300)
Net premium income 5,128 5,266 5,709
Insurance claims 4,932 4,492 4,090
Reinsurers' share (149) (135) (173)
Net claims 4,783 4,357 3,917
Group
2010 2009 2008
Insurance liabilities £m £m £m
Life assurance business
Unit linked insurance contracts —292 256
Index linked insurance contracts —1,090 1,331
Participating bonds —2,793 2,602
Other insurance contracts 68 304 309
68 4,479 4,498
General insurance business 6,726 5,802 5,478
6,794 10,281 9,976
General insurance business
(i) Claims and loss adjustment expenses.
Group
Gross Reinsurance Net
£m £m £m
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 1 January 2010 5,802 (286) 5,516
Cash paid for claims settled in the year (3,843) 55 (3,788)
Increase/(decrease) in liabilities
- arising from current year claims 4,459 (24) 4,435
- arising from prior year claims 322 (56) 266
Net exchange differences (14) 1 (13)
At 31 December 2010 6,726 (310) 6,416
Notified claims 4,375 (305) 4,070
Incurred but not reported 2,351 (5) 2,346
At 31 December 2010 6,726 (310) 6,416
RBS Group 2010344
Notes on the accounts continued