32. Liabilities in respect of insurance activities
Annual Report
2019
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.