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ACCOUNTS RECEIVABLE AND PAYABLE FROM INSURANCE CONTRACTS (Tables)
 12 Months Ended
Dec. 31, 2022
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:

   
2022
    
2021
    
2020
  
      S/(000 )     S/(000 )     S/(000 )
                         
Balances as of January 1
    
1,198,379
      
919,419
      
791,704
  
Reported claims of premiums ceded, Note 26
    
347,145
      
542,341
      
283,041
  
Reserve risk in progress of premiums ceded,  Note 25(a)(**),(i)
    
(7,371
)
    
8,996
      
23,186
  
Premiums assumed
    
2,460
      
803
      
–
  
Settled claims of premiums ceded by reinsurance contracts
    
(96,278
)
    
(168,695
)
    
(229,729
)
Collections and others, net (ii)
    
(337,661
)
    
(104,485
)
    
51,217
  
Balances at the end of the period
    
1,106,674
      
1,198,379
      
919,419
  

As of December 31, 2022 and 2021 accounts receivable include S/76.1 million and S/299.0 million, respectively,  which correspond to the technical reserves of the ceded portion of premiums to reinsurers.


(i)
As of December 31, 2022, the variation mainly comprises the aviation lines for S/28.7 million and the decrease in maritime hull lines for S/19.2 million, fire for S/14.4 million, civil liability for S/9.8 million and other minors for S/1.6 million. As of December 31, 2021, the variation mainly comprises aviation lines for S/33.8 million and civil liability for S/8.9 million; and fire reduction for S/15.0 million, banks for S/4.9 million, maritime hulls for S/3.3 million and other minors for S/5.3 million.


(ii)
As of December 31, 2022, the variation mainly comprises the effect of the exchange difference for S/393.4 million, collections from reinsurers for S/26.5 million and other minors of S/29.3 million. As of December 31, 2021, the balance is mainly made up of collections made to reinsurers for S/110.3 million, the effect of exchange difference for S/64.9 million and other minors of S/59.4 million.

Accounts Payable:

 
  
2022
    
2021
    
2020
  
      S/(000)
    S/(000)
    S/(000)
                         
Balances as of January 1
    
463,825
      
338,446
      
216,734
  
Premiums ceded for automatic contracts (mainly excess of loss), Note 25(a)(**)
    
392,123
      
355,356
      
244,112
  
Premiums ceded to reinsurers in facultative contracts, Note 25(a)(**)
    
399,482
      
392,346
      
327,098
  
Coinsurance granted
    
25,430
      
8,154
      
753
  
Payments and other, net (i)
    
(860,766
)
    
(630,477
)
    
(450,251
)
Balances at the end of the period
    
420,094
      
463,825
      
338,446
  

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, 2022, the balance is mainly made up of payments to reinsurers for S/811.8 million, the effect of exchange difference for S/16.8 million and other minors for S/32.1 million. As of December 31, 2021, the balance is mainly made up of payments from reinsurers for S/608.7 million, the effect of exchange difference for S/11.9 million and other minors of S/9.8 million.