PPS Integrated Report 2021 Notes to the Consolidated Financial Statements | 172 Notes to the Consolidated Financial Statements (continued) for the year ended 31 December 2021 14.2 Short-Term insurance policyholder liabilities Group 2021 2020 Gross Reinsurance Net Gross Reinsurance Net R’m R’m R’m R’m R’m R’m Notified claims 22 7 15 17 1 16 Incurred but not reported 28 19 9 14 6 8 Unearned premiums 14 12 2 8 6 2 Liabilities at beginning of the year 64 38 26 39 13 26 Movement in insurance policy liabilities: – - Notified claims – 1 (1) 5 6 (1) – - Incurred but not reported 36 32 4 14 13 1 - Unearned premiums 9 8 1 6 6 – Total movement in insurance policy liabilities 45 41 4 25 25 – Notified claims 22 8 14 22 7 15 Incurred but not reported 64 51 13 28 19 9 Unearned premiums 23 20 3 14 12 2 Liabilities at end of the year 109 79 30 64 38 26 Current 109 79 30 64 38 26 Group 2021 2020 R’m R’m Claims and loss adjustment expenses developed as follows: Notified claims 15 16 Incurred but not reported 9 8 Total at beginning of the year 24 24 Increase in liabilities – arising from current year claims settled 105 120 – movement in insurance liabilities and current year claims (102) (120) Notified claims and incurred but not reported liabilities at end of the year 27 24 Notified claims 14 15 Incurred but not reported 13 9 Total 27 24 Unearned premiums is developed as follows: Total at the beginning of the year 2 2 Charged to the Statement of Comprehensive Income 1 – Unearned premiums liabilities at end of the year 3 2 14. SHORT-TERM INSURANCE POLICY LIABILITIES (continued)
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