Accounting policies
The Group creates technical reserves to cover current and future claims and costs which may arise from the insurance agreements concluded.
The technical reserves comprise: unearned premium and unexpired risk reserves, outstanding claims and benefits reserve, reserve for bonuses and discounts for the insured, life insurance reserve, and other reserves.
Financial information
| LIABILITIES IN RESPECT OF INSURANCE ACTIVITIES | 31.12.2017 | 31.12.2016 |
|---|---|---|
| Technical reserves | 882 | 543 |
| Liabilities in respect of insurer's investment contracts, broken down by: | 2 117 | 2 401 |
| unit-linked financial insurance products | 1 811 | 2 130 |
| "Safe Capital" | 292 | 268 |
| other | 14 | 3 |
| Total | 2 999 | 2 944 |
| TYPES OF INSURANCE PROVISIONS AND RESERVES | 31.12.2017 | 31.12.2016 |
|---|---|---|
| Provisions for life insurance | 524 | 443 |
| Outstanding claims reserve | 86 | 90 |
| Life insurance technical reserve where the investment risk is borne by the policyholder | 1 733 | 2 025 |
| Unearned premium and unexpired risk reserves | 656 | 386 |
| Total | 2 999 | 2 944 |
Majority of insurance products refer to investment products where the risk is borne by the policyholder.