My first Publication ocbc_ar17_fullreport_english | Page 242

NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2017
39. RISK MANAGEMENT (continued)
39.5 INSURANCE-RELATED RISK MANAGEMENT (continued)
Insurance risk (continued)
Table 39.5(C2): Cumulative claims estimates and cumulative payments to-date
The tables below show the cumulative claims estimates, including both claims notified and IBNR for each successive accident year, at
each balance sheet date, together with cumulative payments to date.
(i) Gross non-life insurance contract liabilities for 2017
$ million
2010 2011 2012 2013 2014 2015 2016 2017
(a) Estimate of cumulative claims
Accident Year
One year later
Two years later
Three years later
Four years later
Five years later
Six years later
Seven years later
Current estimate of cumulative claims 69
85
84
79
76
75
72
71
71 112
113
96
92
86
85
83
–
83 94
100
97
94
90
87
–
–
87 138
131
118
116
120
–
–
–
120 127
119
116
112
–
–
–
–
112 167
162
134
–
–
–
–
–
134 178
178
–
–
–
–
–
–
178 168
–
–
–
–
–
–
–
168
(b) Cumulative payments
Accident Year
One year later
Two years later
Three years later
Four years later
Five years later
Six years later
Seven years later
Cumulative payments 27
58
67
70
71
71
71
71
71 36
64
75
78
80
82
82
–
82 37
64
76
81
84
84
–
–
84 38
79
91
96
112
–
–
–
112 39
88
97
99
–
–
–
–
99 52
105
114
–
–
–
–
–
114 82
139
–
–
–
–
–
–
139 64
–
–
–
–
–
–
–
64
# 1 3 8 13 20 39 104
(c) Non-life gross claim liabilities
Reserve for prior years
Unallocated surplus
General Insurance Fund Contract
Liabilities, gross
(1)

240
# represents amounts less than $0.5 million.
OCBC ANNUAL REPORT 2017
Total
188
44
(1)
231