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Insurance business
 12 Months Ended
Dec. 31, 2019
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
9,353

489

2,266

12,108

Reinsurers’ share of gross insurance premium income
(1,465
)
(7
)
—

(1,472
)
Year ended 31 Dec 2019
7,888

482

2,266

10,636

 
 
 
 
 
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

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
11,305

1,217

3,810

16,332

– claims, benefits and surrenders paid
3,783

900

1,921

6,604

– movement in liabilities
7,522

317

1,889

9,728

Reinsurers’ share of claims and benefits paid and movement in liabilities
(1,402
)
(4
)
—

(1,406
)
– claims, benefits and surrenders paid
(411
)
(17
)
—

(428
)
– movement in liabilities
(991
)
13

—

(978
)
Year ended 31 Dec 2019
9,903

1,213

3,810

14,926

 
 
 
 
 
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

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 2019
 
57,283

5,789

24,258

87,330

Claims and benefits paid
 
(3,804
)
(900
)
(1,900
)
(6,604
)
Increase in liabilities to policyholders
 
11,326

1,217

3,789

16,332

Exchange differences and other movements
2
519

45

(183
)
381

Gross liabilities under insurance contracts at 31 Dec 2019
 
65,324

6,151

25,964

97,439

Reinsurers’ share of liabilities under insurance contracts
 
(3,521
)
(71
)
—

(3,592
)
Net liabilities under insurance contracts at 31 Dec 2019
 
61,803

6,080

25,964

93,847

 
 
 
 
 
 
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

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.