NOTES TO FINANCIAL STATEMENT

Technical Provisions

Technical Provisions

 

2022  2021
AED AED
   
Insurance liabilities – gross  
Unearned premiums reserve 112,656,717 81,376,612
Claims under settlement reserves 52,137,577 51,604,277
Incurred but not reported claims reserve 36,186,621 28,869,141
Unexpired risk reserve 568,447 252,338
Unallocated loss adjustment expenses reserve
2,776,442
2,256,961
 

204,325,804

164,359,329

   
Reinsurance share of outstanding claims  
Unearned premiums reserve 58,903,899 39,580,062
Claims under settlement reserves 26,579,397 30,655,061
Incurred but not reported claims reserve
17,094,338
7,043,918

102,577,633

77,279,041

 
Insurance liabilities – net  
Unearned premiums reserve 53,752,818 41,796,550
Claims under settlement reserves 25,558,177 20,949,216
Incurred but not reported claims reserve 19,092,283 21,825,223
Unexpired risk reserve 568,447 252,338
Unallocated loss adjustment expenses reserve
2,776,442
2,256,961

101,748,169

87,080,288