37. Liabilities in respect of insurance activities

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.

Annual report

Financial information

Liabilities in respect of insurance activities 31.12.2018 31.12.2017
Technical reserves 1 292 882
Total 1 292 882


The majority of insurance products refer to investment products where the risk is borne by the policyholder.

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