ClearView Annual report 2024

Notes to the Financial Statements

5.5.2 Reconciliation of the measurement components of insurance contract balances

Present value of future cash flows

Risk adjustment

CSM AIACF

Total

2024

$'000 $'000 $'000 $'000 $'000

Net opening balance Opening insurance contract liabilities Opening insurance contract assets

(338,326) (74,658) (11,839)

94,591 (330,232)

(66,331) (5,587) (19,817) 177,074 85,339 (404,657) (80,245) (31,656) 271,665 (244,893)

Total net opening balance

Changes related to current services CSM recognised for services provided

—

— 52,468

Change in risk adjustment for non-financial risks expired

— 13,275

— —

— 13,275 — (17,293)

Experience adjustments

(17,293)

—

Changes related to future services Contracts recognised in the period Changes in estimates that adjust the CSM

61,666 (10,913) (56,199)

— (5,446)

(4,139)

1,566 2,573

—

Changes in estimates that result in onerous contract losses or reversal of losses Changes related to past services Adjustment to liabilities for incurred claims Impairment of assets for insurance acquisition cash flows and reversal of impairment

(54,359)

14,921

—

— (39,438)

(15,252) (3,206)

—

— (18,458)

—

— (23,377) (23,377)

Net finance expenses Net finance expenses

17,078 (2,455) (3,533)

12,079 23,169

(12,299)

13,188 (4,691) (11,298) (15,100)

Total amounts recognised in comprehensive income

Cash flows Premiums received

(354,780)

— — — —

— —

— (354,780) — 219,358

Claims and other directly attributable expenses paid

219,358

Insurance acquisition cash flows

1,686

— 52,598 54,284 — 52,598 (81,138)

(133,736)

Total cash flows

Allocation from assets for insurance acquisition cash flows to groups of insurance contracts

32,174 3,762

— —

— (32,174)

—

— 3,762

Other movements 2

Net closing balance Closing insurance contract liabilities Closing insurance contract assets

(425,660) (61,069) (10,134)

36,882 (459,981)

(89,096) (5,988) (26,213) 243,909 122,612 (514,756) (67,057) (36,347) 280,791 (337,369)

Total net closing balance

142

ClearView Annual Report 2024