NET CLAIMS INCURRED FOR LIFE, GENERAL AND HEALTH INSURANCE CONTRACTS

12 Months Ended

Dec. 31, 2022

NET CLAIMS INCURRED FOR LIFE, GENERAL AND HEALTH INSURANCE CONTRACTS [Abstract]

NET CLAIMS INCURRED FOR LIFE, GENERAL AND HEALTH INSURANCE CONTRACTS

26 NET CLAIMS INCURRED FOR LIFE, GENERAL AND HEALTH INSURANCE CONTRACTS

This item consists of the following:

	2022
	Life insurance			General insurance			Health insurance			Total
	S/(000)			S/(000)			S/(000)			S/(000)
Gross claims, Note 16(b)		1,547,674			399,919			329,442			2,277,035
Ceded claims, Note 9(b)		(252,125	)		(82,190	)		(12,830	)		(347,145	)
Net insurance claims		1,295,549			317,729			316,612			1,929,890

	2021
	Life insurance			General insurance			Health insurance			Total
	S/(000)			S/(000)			S/(000)			S/(000)
Gross claims, Note 16(b)		2,183,789			375,162			325,307			2,884,258
Ceded claims, Note 9(b)		(406,494	)		(120,546	)		(15,301	)		(542,341	)
Net insurance claims		1,777,295			254,616			310,006			2,341,917

	2020
	Life insurance			General insurance			Health insurance			Total
	S/(000)			S/(000)			S/(000)			S/(000)
Gross claims, Note 16(b)		1,383,344			326,183			281,627			1,991,154
Ceded claims, Note 9(b)		(138,573	)		(131,444	)		(13,024	)		(283,041	)
Net insurance claims		1,244,771			194,739			268,603			1,708,113

As of December 31, 2022, the decrease in net life insurance claims is mainly due to a lower claim rate of real cases due to COVID-19 for S/466.5 million, release of IBNR for S/69.8 million and other minors for S/ 54.6 million. As of December 31, 2021, the increase in net claims for life insurance is mainly due to the increase in claims in real cases due to COVID-19 for S/335.2 million, higher claims in credit life for S/49.7 million, annuities for S/30.9 million, Complementary Risk Work Insurance (“SCTR”) for S/30.3 million as a result of the normalization of activities regarding the limitation of activities due to the 2020 pandemic and other minors for S/87.0 million.

As of December 31, 2022, the increase in net claims for general insurance corresponds to a higher claim rate of vehicles for S/38.2 million, transportation for S/16.6 million and other minor claims for S/8.3 million. As of December 31, 2021, the restrictions established by the government in relation to circulation and capacity in commercial activities began to be less rigid, which led to a gradual increase in claims in the general insurance business, but without reaching pre-pandemic levels, mainly in the Auto lines and in the Mandatory Traffic Accident Insurance (“SOAT” by its acronym in Spanish).