PPS Integrated Report 2021 Notes to the Consolidated Financial Statements | 170 Notes to the Consolidated Financial Statements (continued) for the year ended 31 December 2021 Group 2021 2020 R’m R’m The non-DPF liabilities developed as follows: Liabilities at beginning of the year 5 172 3 973 Unwinding of discount rate 277 371 Expected cash flows (458) 1 281 Expected risk liability at year-end 4 991 5 625 Impact of movements (260) (188) Change in valuation assumptions – (518) Asset value adjustments 95 6 Risk benefit liability for new business issued 428 247 Non-DPF liabilities at end of the year 5 254 5 172 The DPF liabilities developed as follows: Liabilities at beginning of the year 29 467 28 975 Claims paid during the year (1 642) (1 667) Allocation of profits 5 464 2 215 Movement in unallocated profit (33) (17) Asset value adjustments (37) (39) DPF liabilities at end of the year 33 219 29 467 Analysis of total insurance policy liabilities, net of reinsurance: Non-DPF liabilities 5 254 5 172 DPF liabilities 33 219 29 467 Notified claims & IBNR liabilities 1 062 796 Liabilities at end of the year 39 535 35 435 13. LONG-TERM INSURANCE POLICY LIABILITIES, AND PPS PROFIT-SHARE ACCOUNTS (continued) 13.2 Movements in long-term insurance policy liabilities and re-insurance assets – Long-term insurance contracts with and without DPF (continued)
RkJQdWJsaXNoZXIy NzI4MzY4