NOTES TO FINANCIAL STATEMENT

Technical Provisions

Technical Provisions

  2019  2018
  AED AED
     
Insurance liabilities – gross    
Unearned premiums reserve 94,889,993 88,938,184
Claims under settlement reserves 33,791,506 35,753,709
Incurred but not reported claims reserve 23,477,514 25,992,703
Unallocated loss adjustment expenses reserve 1,582,054 1,604,508
 
153,741,067
152,289,104
     
Reinsurance share of outstanding claims    
Unearned premiums reserve 23,878,063 19,054,843
Claims under settlement reserves 15,732,236 16,599,376
Incurred but not reported claims reserve 6,499,160 6,779,823
 
46,109,459
42,434,042
     
Insurance liabilities – net    
Unearned premiums reserve 71,011,930  69,883,341
Claims under settlement reserves 18,059,270  19,154,333
Incurred but not reported claims reserve 16,978,354  19,212,880
Unallocated loss adjustment expenses reserve 1,582,054  1,604,508
 
107,631,608
 109,855,062