20 Restructuring provision

In 2013, the Group set up total provisions of USD 46 million, and released USD 2 million.

The increase of the provision in the Property & Casualty Reinsurance business segment of USD 46 million is mostly related to leaving benefits.

Changes in restructuring provisions are disclosed in the “Other expenses” line in the Group’s income statement.

For the years ended 31 December, restructuring provision developed as follows:

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2012
USD millions

Property & Casualty Reinsurance

Life & Health Reinsurance

Corporate Solutions

Admin Re®

Group items

Total

Balance as of 1 January

43

2

 

9

 

54

Increase in provision

7

 

 

2

 

9

Release of provision

–4

 

 

 

 

–4

Costs incurred

–14

–1

 

 

 

–15

Balance as of 31 December

32

1

0

11

0

44

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013
USD millions

Property & Casualty Reinsurance

Life & Health Reinsurance

Corporate Solutions

Admin Re®

Group items

Total

Balance as of 1 January

32

1

 

11

 

44

Increase in provision

46

 

 

 

 

46

Release of provision

–2

 

 

 

 

–2

Costs incurred

–12

–1

 

–1

 

–14

Balance as of 31 December

64

0

0

10

0

74