28 NewRe Annual Report 2021 Receivables and liabilities arising out of derivative financial instruments Derivative assets and liabilities are accounted for at fair value Tangible assets Own use real estate and all other tangible assets are depreciated on a straight line basis Deferred acquisition costs Acquisition costs paid in respect of financing type Life reinsurance contracts are capitalised and amortised in proportion to the gross profit amounts ex pected to be realised over the duration of the Life contract Acquisition costs that are directly attributable to reinsurance contracts are capitalised and amortised over the lifetime of the contract in proportion to the premium income earned These costs are regularly tested for impairment using a liability adequacy test Receivables Receivables are carried at their nominal values and adjusted if there is a risk of impairment The adjustment is calculated on the basis of individual expo sures and a general allowance based on analysis of the receivables Other assets and liabilities These are reported at their nominal value Claims expenses and claims reserves Case reserves are recognised for the amounts reported by cedants At year end closing most statements of account received for recent underwriting years are incomplete and are subject to estimates The claims reserves are measured at the expected ultimate cost including reserves for incurred but not reported claims either reported by cedants or estimated by underwriters and the actuarial department less claims paid Premiums Premiums are earned on a pro rata temporis basis over the period of the risk or in proportion to the cover provided Other reinsurance revenues and other reinsurance expenses These items form part of technical income and expenses from reinsurance business Other reinsurance revenues comprises structuring and recapture fees Notes to the financial statements NewRe Annual Report 2021 Inhalt indd 28 25 04 22 10 19

Hinweis: Dies ist eine maschinenlesbare No-Flash Ansicht.
Klicken Sie hier um zur Online-Version zu gelangen.