4 Insurance service result
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
1H 2026 |
|
|
|
1H 2025 |
1 |
|
|
|
Insurance revenue |
|
|
|
|
|
|
|
|
|
|
|
Expected insurance claims and expenses |
|
|
3,396 |
|
|
|
3,698 |
|
|
|
|
Earnings released from CSM |
|
|
391 |
|
|
|
387 |
|
|
|
|
Release of risk adjustment |
|
|
118 |
|
|
|
127 |
|
|
|
|
Recovery of acquisition cash flows |
|
|
275 |
|
|
|
273 |
|
|
|
|
Other |
|
|
6 |
|
|
|
18 |
|
|
|
|
Contracts measured under Non-PAA |
|
|
|
|
|
|
|
|
|
|
|
Contracts measured under the PAA |
|
|
61 |
|
|
|
56 |
|
|
|
|
Total Insurance revenue |
|
|
4,247 |
|
|
|
4,558 |
|
|
|
|
Insurance service expenses |
|
|
|
|
|
|
|
|
|
|
|
Incurred claims and expenses |
|
|
(3,344 |
) |
|
|
(4,074 |
) |
|
|
|
Onerous contract losses (and reversals) |
|
|
(880 |
) |
|
|
(624 |
) |
|
|
|
Amortization of acquisition cash flows |
|
|
(275 |
) |
|
|
(273 |
) |
|
|
|
Contracts measured under Non-PAA |
|
|
|
|
|
|
|
|
|
|
|
Contracts measured under PAA |
|
|
(66 |
) |
|
|
(61 |
) |
|
|
|
Total Insurance service expenses |
|
|
(4,565 |
) |
|
|
(5,033 |
) |
|
|
|
Net income / (expenses) on reinsurance held |
|
|
|
|
|
|
|
|
|
|
|
Assumption changes that adjust underlying onerous contracts |
|
|
185 |
|
|
|
14 |
|
|
|
|
Experience adjustments that adjust underlying onerous contracts |
|
|
265 |
|
|
|
259 |
|
|
|
|
CSM recognized for service received |
|
|
(18 |
) |
|
|
(3 |
) |
|
|
|
Release of risk adjustment |
|
|
(35 |
) |
|
|
(38 |
) |
|
|
|
Experience adjustments on current service |
|
|
(26 |
) |
|
|
355 |
|
|
|
|
Gain on retrospective reinsurance for incurred claims |
|
|
1 |
|
|
|
1 |
|
|
|
|
Reversals of loss recovery component from onerous underlying contracts |
|
|
1 |
|
|
|
- |
|
|
|
|
Contracts measured under Non-PAA |
|
|
|
|
|
|
|
|
|
|
|
Contracts measured under PAA |
|
|
- |
|
|
|
- |
|
|
|
|
Net income / (expenses) on reinsurance held |
|
|
372 |
|
|
|
588 |
|
|
|
|
Insurance service result |
|
|
54 |
|
|
|
113 |
|
1 |
1H 2025 figures are restated as Aegon UK is classified as discontinued operations. | The following table shows the revenue recognized on insurance contracts by transition method. Other contracts comprise contracts transitioned under the full retrospective approach and contracts issued after the transition to IFRS 17.
|
|
|
|
|
|
|
|
|
|
|
|
Revenue recognized on insurance contracts in-force |
|
1H 2026 |
|
|
1H 2025 1 |
|
|
|
|
Transitioned under the modified retrospective approach |
|
|
191 |
|
|
|
234 |
|
|
|
|
Transitioned under the fair value approach |
|
|
3,451 |
|
|
|
3,814 |
|
|
|
|
Other contracts |
|
|
605 |
|
|
|
510 |
|
|
|
|
Total revenue recognized on insurance contracts |
|
|
4,247 |
|
|
|
4,558 |
|
1 |
1H 2025 figures are restated as Aegon UK is classified as discontinued operations. |
|