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 |