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Notes to the Group’s Financial Statements

1 Insurance premiums written
P&C insurance
EURm 2014 2013
Premiums from insurance contracts
Premiums written, direct insurance 4,550 4,674
Premiums written, assumed reinsurance 84 94
Premiums written, gross 4,634 4,768
Reinsurers' share of premiums written -170 -208
Premiums written, net 4,464 4,560
Change in unearned premium provision -3 -46
Reinsurers' share -3 -10
Change in unearned premium provision, net -6 -55
Premiums earned, total 4,457 4,505
Life insurance
EURm 2014 2013
Premiums from insurance contracts
Premiums written, direct insurance 658 624
Premiums written, assumed reinsurance 4 4
Insurance contracts total, gross 661 628
Premium revenue ceded to reinsurers on insurance contracts issued -5 -5
Insurance contracts total, net 656 623
Investment contracts 449 440
Premiums written, net 1) 1,105 1,063
Elimination items between segments -24 -6
Group, total 5,544 5,618
¹) The change in unearned premiums is presented in note 4 "The change in insurance and investment liabilities".
Specification of premiums written in Life insurance
EURm 2014 2013
Premiums from insurance contracts
Premiums from contracts with discretionary participation feature 143 153
Premiums from unit-linked contracts 513 469
Premiums from other contracts 2 1
Total 658 624
Assumed reinsurance 4 4
Premiums from investment contracts
Premiums from contracts with discretionary participation feature 1 0
Premiums from unit-linked contracts 448 440
Total 449 440
Insurance and investment contracts, total 1,110 1,068
Reinsurers' share -5 -5
Premiums written, total 1,105 1,063
Single and regular premiums from direct insurance
Regular premiums, insurance contracts 282 291
Single premiums, insurance contracts 375 333
Single premiums, investment contracts 449 440
Total 1,106 1,064
Note
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