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:
| Download |
|
2012 |
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 |
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 |