23	NET PREMIUMS EARNED

This item consists of the following:

	*Gross premiums ()**		Premiums ceded to reinsurers, net (**)			Assumed from other companies, net		Net premiums earned		Percentage of assumed net premiums
	S/(000)		S/(000)			S/(000)		S/(000)		%
2017
Life insurance		949,515		(108,378	)		–		841,137		–
Health insurance		434,808		(13,568	)		–		421,240		–
General insurance		920,595		(377,857	)		3,225		545,963		0.59
Total		2,304,918		(499,803	)		3,225		1,808,340		0.18

2016
Life insurance		876,315		(37,725	)		–		838,590		–
Health insurance		415,152		(10,011	)		188		405,329		0.05
General insurance		1,005,426		(455,850	)		5,620		555,196		1.01
Total		2,296,893		(503,586	)		5,808		1,799,115		0.32

2015
Life insurance		857,576		(36,971	)		–		820,605		–
Health insurance		388,002		(9,186	)		700		379,516		0.18
General insurance		948,177		(423,955	)		9,635		533,857		1.80
Total		2,193,755		(470,112	)		10,335		1,733,978		0.60

(*)

Includes the annual variation of the unearned premiums and other technical reserves.

(**)

“Premiums ceded to reinsurers, net” include:

	2017			2016			2015
	S/(000)			S/(000)			S/(000)
Premiums ceded for automatic contracts (mainly excess of loss), Note 9(b)		(257,617	)		(201,892	)		(145,618	)
Premiums ceded for facultative contracts, Note 9(b)		(263,378	)		(292,555	)		(331,329	)
Annual variation for unearned premiums ceded reserves, Note 9(b)		21,192			(9,139	)		6,835
		(499,803	)		(503,586	)		(470,112	)

Gross premiums earned by insurance type and their participation in total gross premiums are described below:

	2017				2016				2015
	S/(000)		%		S/(000)		%		S/(000)		%

Life insurance (i)		949,515		41.20		876,315		38.16		857,576		39.09
Health insurance (ii)		434,808		18.86		415,152		18.07		388,002		17.69
General insurance (iii)		920,595		39.94		1,005,426		43.77		948,177		43.22
Total		2,304,918		100.00		2,296,893		100.00		2,193,755		100.00

(i)

The breakdown of life insurance gross premiums earned is as follows:

	2017				2016				2015
	S/(000)		%		S/(000)		%		S/(000)		%

Credit life		436,443		45.96		366,623		41.83		343,643		40.07
Group life		117,580		12.38		118,634		13.54		187,857		21.91
Disability and survival (*)		237,559		25.02		214,310		24.46		116,251		13.56
Annuities		26,093		2.75		28,799		3.29		16,853		1.96
Individual life and personal accidents		131,840		13.89		147,949		16.88		192,972		22.50
Total life insurance gross premiums		949,515		100.00		876,315		100.00		857,576		100.00

(*)

This item includes Complementary Work Risk Insurance (“SCTR” from its Spanish acronym).

(ii)

Health insurance gross premium includes medical assistance which amounts to S/386.3 million at December 31, 2017, (S/371.2 and S/348.8 at December 31, 2016 and 2015, respectively) and represents 88.83 percent of this line of business at 2017 (89.42 and 89.9 percent at 2016 and 2015, respectively).

(iii)

General insurance gross premiums consists of the following:

	2017				2016				2015
	S/(000)		%		S/(000)		%		S/(000)		%

Automobile		308,910		33.56		335,790		33.39		319,130		33.66
Fire and allied lines		241,498		26.23		274,206		27.27		212,197		22.38
Theft and robbery		81,699		8.87		79,588		7.92		73,305		7.73
Technical lines (*)		62,724		6.81		70,640		7.03		74,182		7.82
Transport		46,534		5.05		51,697		5.14		61,424		6.48
Third party liability		44,536		4.84		42,968		4.27		41,815		4.41
Marine Hull		27,317		2.97		27,954		2.78		21,851		2.30
Aviation		25,185		2.74		55,149		5.49		64,380		6.79
SOAT (Mandatory automobile line)		24,573		2.67		20,830		2.07		23,608		2.49
Others		57,619		6.26		46,604		4.64		56,285		5.94
Total life insurance gross premiums		920,595		100.00		1,005,426		100.00		948,177		100.00

(*)

Technical lines include Contractor’s All Risk (CAR), Machinery breakdown, All Risk (EAR), Electronic equipment (EE), All Risk Contractor’s Equipment (ARCE).