Page 81 - Suncorp_Review

Suncorp Group Limited Annual Report 2010/11 79

8. Life – Specifc disclosures

8.1 Contribution to proft from Life activities

LIFE

2011 2010 $m $m

Income

Premiums received or receivable 1,292 3,028 Premiums recognised as a change in gross policy liabilities (501) (2,272) Premium income 791 756 Outwards reinsurance premium expense (195) (187) 596 569 Investment income 636 775 Fees from trust and fduciary activities 104 95 Other income 117 154 1,453 1,593

Operating expenses

Claims paid or payable (1,316) (3,048) Claims recognised as a change in gross policy liabilities 782 2,571 Claims expense (534) (477) Reinsurance recoveries revenue 205 177 (329) (300) Policy acquisition expenses

commission (81) (80) other (90) (75) Policy maintenance expenses

commission (67) (60) other (116) (132) Investment management expenses (19) (26) Other operating expenses (166) (189) (Increase) decrease in net insurance contract liabilities (79) 3 (Increase) in net investment contract liabilities (270) (368) Decrease (increase) in unvested policyowner benefts 21 (6) Outside benefcial interests in managed funds (31) (44) Non-banking interest expense (3) (6) (1,230) (1,283) Contribution to proft before acquisition amortisation

and tax from Life activities 223 310