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ACCOUNTS RECEIVABLE AND PAYABLE FROM INSURANCE CONTRACTS (Tables)
 12 Months Ended
Dec. 31, 2021
ACCOUNTS RECEIVABLE AND PAYABLE FROM INSURANCE CONTRACTS [Abstract]  
Accounts Receivable and Payable to Reinsurers and Coinsurers


b)
The movements of the captions “Accounts receivable and payable to reinsurers and coinsurers” are as follows:

Accounts receivable:

   
2021
    
2020
    
2019
  
    S/(000)     S/(000)   S/(000)  
                   
Balances as of January 1
    
919,419
      
791,704
      
842,043
  
Reported claims of premiums ceded, Note 26
    
542,341
      
283,041
      
321,375
  
Reserve risk in progress of premiums ceded,  Note 25 a (***)
    
8,996
      
23,186
   
(14,935)
  
Premiums assumed
    
803
      
-
      
668
  
Settled claims of premiums ceded by reinsurance contracts
    
(419,342
)
    
(229,729
)
    
(226,769
)
Collections and others, net (i)
    
146,162
      
51,217
   
(130,678
)
Balances at the end of the period
    
1,198,379
      
919,419
      
791,704
  

December 31, 2021 and 2020 accounts receivable include S/299.0 million and S/282.2 million, respectively,  which correspond to the technical reserves of the ceded portion of premiums to reinsures


(i)
As of December 31, 2021, the balance consists mainly of collections made to reinsurers by S/110.3 million and the effect of exchange difference for approximately S/64.9 million; As of December 31, 2020, collections made were reduced for S/10.0 million and the effect of exchange difference for S/55.0 million.

Accounts Payable:

 
 
2021
    
2020
    
2019
  
    S/(000)  
   S/(000)  
   S/(000)
                   
Balances as of January 1
    
338,446
      
216,734
      
291,693
  
Premiums ceded for automatic contracts (mainly excess of loss), Note 25 a (***)
    
355,356
      
244,112
      
254,839
  
Premiums ceded to reinsurers in facultative contracts, Note 25 a (***)
    
392,346
      
327,098
      
289,386
  
Coinsurance granted
    
8,154
      
753
      
4,332
  
Payments and other, net (i)
    
(630,477
)
    
(450,251
)
    
(623,516
)
Balances at the end of the period
    
463,825
      
338,446
      
216,734
  

Accounts payable to reinsurers are primarily related to proportional facultative contracts (on an individual basis) for ceded premiums, automatic non-proportional contracts (excess loss) and reinstallation premiums. For facultative contracts the Group transfers to the reinsurers a percentage or an amount of an insurance contract or individual risk, based on the premium and the coverage period.



 (i) As of December 31, 2021, the balance consists mainly of collections made to reinsurers by S/608.7 million and the effect of exchange difference for approximately S/11.9 million, As of December 31, 2020, collections made amounted to S/471.2 million and the effect of exchange difference for S/4.1 million and other minors.