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Insurance business
 12 Months Ended
Dec. 31, 2018
Insurance Contracts [Abstract]  
Insurance business
4
Insurance business
Net insurance premium income
 
Non-linked insurance

 Linked life insurance

Investment contracts with DPF1

Total

 
$m

$m

$m

$m

Gross insurance premium income
8,616

422

2,300

11,338

Reinsurers’ share of gross insurance premium income
(672
)
(7
)
—

(679
)
Year ended 31 Dec 2018
7,944

415

2,300

10,659

 
 
 
 
 
Gross insurance premium income
8,424

351

2,027

10,802

Reinsurers’ share of gross insurance premium income
(1,016
)
(7
)
—

(1,023
)
Year ended 31 Dec 2017
7,408

344

2,027

9,779

 
 
 
 
 
Gross insurance premium income
8,036

675

1,877

10,588

Reinsurers’ share of gross insurance premium income
(629
)
(8
)
—

(637
)
Year ended 31 Dec 2016
7,407

667

1,877

9,951

1
Discretionary participation features.
Net insurance claims and benefits paid and movement in liabilities to policyholders

Non-linked insurance

Linked life insurance

Investment contracts with DPF1


Total


$m

$m

$m

$m

Gross claims and benefits paid and movement in liabilities
8,943

(446
)
1,724

10,221

– claims, benefits and surrenders paid
3,852

1,088

1,869

6,809

– movement in liabilities
5,091

(1,534
)
(145
)
3,412

Reinsurers’ share of claims and benefits paid and movement in liabilities
(605
)
191

—

(414
)
– claims, benefits and surrenders paid
(311
)
(181
)
—

(492
)
– movement in liabilities
(294
)
372

—

78

Year ended 31 Dec 2018
8,338

(255
)
1,724

9,807

 
 
 
 
 
Gross claims and benefits paid and movement in liabilities
8,894

1,413

2,901

13,208

– claims, benefits and surrenders paid
2,883

1,044

2,002

5,929

– movement in liabilities
6,011

369

899

7,279

Reinsurers’ share of claims and benefits paid and movement in liabilities
(942
)
65

—

(877
)
– claims, benefits and surrenders paid
(297
)
(223
)
—

(520
)
– movement in liabilities
(645
)
288

—

(357
)
Year ended 31 Dec 2017
7,952

1,478

2,901

12,331

 
 
 
 
 
Gross claims and benefits paid and movement in liabilities
8,778

1,321

2,409

12,508

– claims, benefits and surrenders paid
2,828

749

2,017

5,594

– movement in liabilities
5,950

572

392

6,914

Reinsurers’ share of claims and benefits paid and movement in liabilities
(560
)
(78
)
—

(638
)
– claims, benefits and surrenders paid
(112
)
(14
)
—

(126
)
– movement in liabilities
(448
)
(64
)
—

(512
)
Year ended 31 Dec 2016
8,218

1,243

2,409

11,870

1
Discretionary participation features.
Liabilities under insurance contracts
 
 
 Non-linked insurance

 Linked life insurance

Investment contracts with DPF1

Total

 
Footnotes
$m

$m

$m

$m

Gross liabilities under insurance contracts at 1 Jan 2018
 
52,112

7,548

26,007

85,667

Impact on transition to IFRS 9

 
(69
)
—

—

(69
)
Claims and benefits paid
 
(3,852
)
(1,088
)
(1,869
)
(6,809
)
Increase in liabilities to policyholders
 
8,943

(446
)
1,724

10,221

Exchange differences and other movements
2
149

(225
)
(1,604
)
(1,680
)
Gross liabilities under insurance contracts at 31 Dec 2018
 
57,283

5,789

24,258

87,330

Reinsurers’ share of liabilities under insurance contracts
 
(2,438
)
(68
)
—

(2,506
)
Net liabilities under insurance contracts at 31 Dec 2018
 
54,845

5,721

24,258

84,824

 
 
 
 
 
 
Gross liabilities under insurance contracts at 1 Jan 2017
 
46,043

6,949

22,281

75,273

Claims and benefits paid
 
(2,883
)
(1,044
)
(2,002
)
(5,929
)
Increase in liabilities to policyholders
 
8,894

1,413

2,901

13,208

Exchange differences and other movements
2
58

230

2,827

3,115

Gross liabilities under insurance contracts at 31 Dec 2017
 
52,112

7,548

26,007

85,667

Reinsurers’ share of liabilities under insurance contracts
 
(2,203
)
(268
)
—

(2,471
)
Net liabilities under insurance contracts at 31 Dec 2017
 
49,909

7,280

26,007

83,196

1
Discretionary participation features.
2
‘Exchange differences and other movements’ includes movements in liabilities arising from net unrealised investment gains recognised in other comprehensive income.
The key factors contributing to the movement in liabilities to policyholders included movements in the market value of assets supporting policyholder liabilities, death claims, surrenders, lapses, liabilities to policyholders created at the initial inception of the policies, the declaration of bonuses and other amounts attributable to policyholders.