Assets/Liabilities for Insurance Contracts (Tables)

12 Months Ended

Dec. 31, 2019

Assets related to insurance contracts as of the indicated dates are detailed as follows:


Assets from Insurance Contracts	12.31.19		12.31.18
Premiums Receivable		1,157,672		1,483,274
Credits with Reinsurers		641		8,247
Fees Receivables		3,714		3,777
Others		19,485		16,108

Total		1,181,512		1,511,406

Liabilities related to insurance contracts as of the indicated dates are detailed as follows:


Liabilities from Insurance Contracts	12.31.19			12.31.18
Debts with Insured Persons		597,791			574,718
Debts with Reinsurers		3,350			14,925
Debts with Co-insurers		1,468			4,060
Debts with Producers		302,402			286,020
Technical Commitments		817,418			878,729
Pending Claims in charge of Reinsures		(253,794	)		(61,342	)

Total		1,468,635			1,697,110

Summary of Debts with Insureds


Debts with Insured Persons	12.31.19		12.31.18
Property & Casualty Insurance		396,514		162,318
Direct Administrative Insurance		320,483		92,481
Direct Insurance in Lawsuits		11,255		15,331
Direct Insurance in Mediation		1,604		654
Settled Claims Payable		5,608		2,475
Pending Claims, Active Reinsurance and Retrocession		2,107		1,597
Claims Incurred but not Reported (IBNR)		55,457		49,780
Life Insurance		201,096		412,386
Direct Administrative Insurance		175,748		375,120
Direct Insurance in Lawsuits		5,523		7,310
Direct Insurance in Mediation		6,538		1,028
Settled Claims Payable		417		2,191
Pending Claims, Active Reinsurance and Retrocession		6,900		6,769
Claims Incurred but not Reported (IBNR)		5,861		19,558
Redemptions Payable		109		408
Creditors for Premiums to be Refunded		—		2
Retirement Insurance		181		14
Annuities Payable in Arrears		8		14
Others		173		—

Total		597,791		574,718

Summary of Net Gross and Reinsurers Share for Amounts Arising from Insurance Contracts


Debt with Reinsurers and Coinsurance	Current Account		Reinstatement Premiums		Minimum Deposit Premium to Be Accrued			Deposits as Collateral		Unpaid Losses to Be Borne by Reinsurers			Total
IBNR in charge of Reinsurers		21,026		—		(17,676	)		—		(253,794	)		(250,444	)
Debts with Co-insurers		1,468		—		—			—		—			1,468

Total as of 12.31.19		22,494		—		(17,676	)		—		(253,794	)		(248,976	)

Total as of 12.31.18		24,491		—		(12,150	)		—		(39,876	)		(27,535	)

Summary of debts with producers


Debts with Producers	12.31.19		12.31.18
Checking Account—Producers		81,497		69,571
Fees for Premiums Receivable		190,342		174,196
Production Expenses Payable		30,563		42,253

Total		302,402		286,020

Summary of Technical Commitments


Technical Commitments	12.31.19			12.31.18
Ongoing and Similar Risk		448,501			503,635
Premiums and Surcharges		434,639			487,144
Premiums on Passive Reinsurance		(14,490	)		(22,330	)
Active Reinsurance		28,259			38,821
Insufficient Premiums		93			—
Mathematical Reserves		368,917			375,094
Mathematical Reserves for Individual Life Insurance		115,376			123,904
Mathematical Reserves for Individual Retirement Insurance		67,731			103,203
Mathematical Reserves of Life Annuities		135,007			146,416
Provision for the Mathematical Reserve Recomposition		28			11
Fluctuation Funds		50,775			1,560

Total		817,418			878,729

Summary of Assumption Used for Current Estimates of Future Cash Flows Derived from Insurance Contract

Insurance liabilities were recorded according to the liability adequacy test, using the current estimates of future cash flows derived from insurance contracts. The assumptions used are as follows:


	12.31.19	12.31.18
Mortality Table	GAM 94	GAM 94
Investment (Discount) Rate	2.74%	3.38%
Life Insurance Reference Rate	Projection of Life Insurance Reference Rate based on CER proportion, starting from 1.19% for voluntary retirement, and 0.88% for Annuities.	Projected benchmark rate based on a share of CER starting with 1.36% in the case of voluntary retirement and 1.63% in the case of life annuities.
Administrative Expenses	453 for voluntary retirement and 620 for annuities	682 in the case of voluntary retirement and 620 in the case of life annuities