Insurance Technical Reserves
Non-life insurance technical reserves consist of prepayments of net non-life insurance premiums and reserves to meet outstanding non-life insurance claims.
They consist of premiums paid but not yet earned (called unearned premiums) and claims due but not yet settled, including cases where the amount is in dispute or the event leading to the claim has occurred but has not yet been reported (called claims outstanding). The only transactions for non-life insurance technical reserves recorded in the financial account are accrual adjustments.