NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022 14.2 Short-Term insurance policyholder liabilities Group 2022 2021 Gross Reinsurance Net Gross Reinsurance Net R’m R’m R’m R’m R’m R’m 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 beginning of the year 109 79 30 64 38 26 Movement in insurance policy liabilities: – Notified claims 8 4 4 – 1 (1) – Incurred but not reported 21 18 3 36 32 4 Unearned premiums 19 17 2 9 8 1 Total movement in insurance policy liabilities 48 39 9 45 41 4 Notified claims 30 12 18 22 8 14 Incurred but not reported 85 69 16 64 51 13 Unearned premiums 42 37 5 23 20 3 Liabilities at end of the year 157 118 39 109 79 30 Current* 77 47 30 78 51 27 Non-current* 80 71 9 31 28 3 * The Policyholder liabilities Non-current portions have been reclassified to show a current and non-current portion. Group 2022 2021 R’m R’m Claims and loss adjustment expenses developed as follows: Notified claims 14 15 Incurred but not reported 13 9 Total at beginning of the year 27 24 Increase in liabilities – arising from current year claims settled 131 105 – movement in insurance liabilities and current year claims (124) (102) Notified claims and incurred but not reported liabilities at end of the year 34 27 Notified claims 18 14 Incurred but not reported 16 13 Total 34 27 Unearned premiums is developed as follows: Total at the beginning of the year 3 2 Charged to the Statement of Comprehensive Income 2 1 Unearned premiums liabilities at end of the year 5 3 14. Short-term insurance policy liabilities (continued) 144 Notes to the Consolidated Financial Statements
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