v3.26.1
Liabilities under insurance contracts (Tables)
12 Months Ended
Dec. 31, 2025
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [abstract]  
Schedule of liabilities under insurance contracts and reinsurance assets in the consolidated balance sheets
The detail of Liabilities under insurance contracts and reinsurance assets in the consolidated balance sheets (see note 2.i) is as follows:
EUR million
202520242023
Liabilities under insurance contracts18,737 17,829 17,799 
Liability for Remaining Coverage (LRC)
18,291 17,377 17,333 
Liabilities relating to insurance contracts measured under BBA/VFA18,194 17,292 17,262 
Current value of future cashflows (PVFCF)17,461 16,614 16,627 
Risk adjustment for non-financial risk (RA)186 199 211 
Contractual service margin (CSM)547 479 424 
Liabilities relating to insurance contracts measured under PAA97 85 71 
Liability for incurred claims (LIC)446 452 466