Note 21 - Provisions for claims

Provisions for claims		2007	2006	2005	2004	2003	2002	2001	2000	Total
Gross	0	12,585	11,533	11,736	11,001	10,663	11,234	9,168	8,537
Estimated accumulated claims	1		11,789	11,635	11,008	10,769	11,587	9,403	8,863
	2			11,464	10,865	10,434	11,589	9,598	9,072
	3				10,751	10,431	11,644	9,709	9,277
	4					10,459	11,636	9,640	9,364
	5						11,544	9,631	9,494
	6							9,843	9,246
	7								9,366
		12,585	11,789	11,464	10,751	10,459	11,544	9,843	9,366	87,801
Cumulative payments to date		-5,787	-7,695	-8,554	-8,389	-8,643	-9,976	-8,746	-8,598	-66,388
Discounting		-770	-591	-463	-380	-329	-296	-225	-169	-3,223
Reserves from 1999 and prior years										2,571
Other reserves										343
Gross provisions for claims, end of year										21,104

Ceded business		2007	2006	2005	2004	2003	2002	2001	2000	Total
Estimated accumulated claims	0	513	294	944	861	938	2,035	1,446	1,435
	1		293	838	874	898	2,142	1,460	1,550
	2			943	915	895	2,025	1,466	1,514
	3				914	955	2,019	1,481	1,539
	4					872	2,017	1,455	1,573
	5						2,031	1,441	1,568
	6							1,449	1,564
	7								1,572
		513	293	843	914	872	2,031	1,449	1,572	8,487
Cumulative payments to date		-139	-147	-721	-736	-769	-1,768	-1,371	-1,506	-7,157
Discounting		-7	-7	-16	-36	-20	-34	-17	-7	-144
Reserves from 1999 and prior years										180
Other reserves										62
Provisions for claims, end of year										1,428


Net of reinsurance		2007	2006	2005	2004	2003	2002	2001	2000	Total
Estimated accumulated claims	0	12,072	11,239	10,792	10,140	9,725	9,199	7,722	7,102
	1		11,496	10,797	10,134	9,871	9,445	7,943	7,313
	2			10,621	9,950	9,539	9,564	8,132	7,558
	3				9,837	9,476	9,625	8,228	7,738
	4					9,587	9,619	8,185	7,791
	5						9,514	8,190	7,926
	6							8,394	7,682
	7								7,794
		12,071	11,496	10,621	9,837	9,587	9,514	8,394	7,794	79,314
Cumulative payments to date		-5,647	-7,548	-7,833	-7,653	-7,875	-8,208	-7,375	-7,092	-59,231
Discounting		-764	-585	-446	-344	-309	-262	-208	-161	-3,079
Reserves from 1999 and prior years										2,391
Other reserves										281
Provisions for claims, net of reinsurance, end of year										19,676

The table consists of figures for TrygVesta Forsikring A/S and TrygVesta Forsikring, norwegian branch of TrygVesta Forsikring A/S. Other group units are included in the item “Other”, which comprises the provisions for claims for TrygVesta Garantiforsikring A/S, travel and health insurance and the Finnish and Swedish business units.

The amounts in foreign currency in the table are converted to Danisk kroner accounting to the exchange rate at 31 December to prevent the impact of exchange rate fluctuation.

The accident-year 2000 is influenced by Chevanstell, which at that time operated under the name TBi UK in the London market. The impact derives from the stop-loss agreement between TrygVesta Forsikring A/S and Chevanstell Ltd. in 2000 to cover business written before 2000, and which was terminated after the divestment of Chevanstell. Until 2005, there was an increase in claims incurred, and in 2006 the divestment had a positive impact.

The inclusion of the Zurich portfolio acquired in 2002 and, to a minor extent, the Allianz portfolio acquired in 2001, has an impact on the figures. When the liabilities of these portfolios appear in the triangulation the ultimate liability for the preceding accident years is increased with effect from the financial year in question, whereas already existing liabilities concerning previous financial years remain unchanged.

The combined impact of the two acquisitions amounts to DKK 210m gross and DKK 200m net of reinsurance.
After the introduction of variable interest rate discounting of danish Workers Compensation annuities, inflation explicitly influence claim ultimates from 2007 onwards. In previous calender years the inflation element is partially offset by the use of discounting with a real rate of interest. Hence undiscounted claim ultimates are adversely affected in 2007 by totally DKK 1.271m.



Provisions for claims			2007
			Gross		Ceded		Net
Total, beginning of period			20,068		1,312		18,756
Market value adjustment of provisions, beginning of period			276		38		238
			20,344		1,350		18,994

Paid in the financial year in respect of the current year			-5,786		-139		-5,647
Paid in the financial year in respect of prior years			-5,343		-347		-4,995
			-11,129		-487		-10,642

Change in claims in the financial year in respect of the current year			11,680		504		11,176
Change in claims in the financial year in respect of prior years			-740		-11		-729
			10,940		493		10,447

Discounting 3)			606		10		596

Provisions for claims, end of year 1)			20,761		1,366		19,395
Other 2)			343		62		281
			21,104		1,428		19,676

			2006
			Gross		Ceded		Net
Total, beginning of period			19,788		1,644		18,144
Market value adjustment of provisions, beginning of period			-266		-42		-224
			19,522		1,602		17,920

Paid in the financial year in respect of the current year			-5,030		-107		-4,923
Paid in the financial year in respect of prior years			-4,895		-421		-4,474
			-9,925		-528		-9,397

Change in claims in the financial year in respect of the current year			10,834		283		10,551
Change in claims in the financial year in respect of prior years			-453		-41		-412
			10,381		242		10,139

Discounting 3)			90		-4		94

Provisions for claims, end of year 1)			20,068		1,312		18,756
Other 2)			342		64		278
				20,410		1,376		19,034

1) The table consists of figures for TrygVesta Forsikring A/S and TrygVesta Forsikring, norwegian branch of TrygVesta Forsikring A/S. Other units in the Group are included in 'Other'
2) Comprises provisions for claims for TrygVesta Garantiforsikring A/S, travel and health, and our Finnish and Swedish business units.
3) Discounting also includes exchange rate adjustments.
Comparative figures for 2006 have been restated to method of new unwinding. See note 1 'Changes in Accounting policies'.
	Carrying amount	Expected cash flow
	Total	0-1 year	1-2 years		2-3 years		> 3 years
2007
Provisions for unearned premiums, gross	5,303	5,100	68		41		94
Provisions for unearned premiums, ceded	-158	-158	0		0		0
Provisions for claims, gross	20,761	7,906	3,644		2,380		6,831
Provisions for claims, ceded	-1,366	-534	-196		-137		-499


	Carrying amount	Expected cash flow
	Total	0-1 year	1-2 years		2-3 years		> 3 years
2006
Provisions for unearned premiums, gross	5,116	4,879	54		36		147
Provisions for unearned premiums, ceded	-184	-184	0		0		0
Provisions for claims, gross	20,068	7,422	3,948		2,507		6,191
Provisions for claims, ceded	-1,312	-525	-167		-125		-495


The table consists of figures for TrygVesta Forsikring A/S and TrygVesta Forsikring, norwegian branch of TrygVesta Forsikring A/S.


The note should be seen in conjunction with the maturity of the group’s interest-bearing financial assets and liabilities, see note 16.
Please refer to the part 'Risk management' for an elaboration of risk management and risk exposure.