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Notes to the Group’s Financial Statements

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• 1 Insurance premiums written
• 2 Net income from investments
• 3 Claims incurred
• 4 Change in liabilities for insurance and investment contracts
• 5 Staff costs
• 6 Other operating expenses
• 7 Result analysis of P&C insurance
• 8 Performance analysis per class of P&C insurance
• 9 Earnings per share
• 10 Financial assets and liabilities
• 11 Property, plant and equipment
• 12 Investment property
• 13 Intangible assets
• 14 Investments in associates
• 15 Financial assets
• 16 Fair values
• 17 Determination and hierarchy of fair values
• 18 Movements in level 3 financial instruments measured at fair value
• 19 Sensitivity analysis of level 3 financial instruments measured at fair value
• 20 Investments related to unit-linked insurance contracts
• 21 Deferred tax assets and liabilities
• 22 Taxes
• 23 Components of other comprehensive income
• 24 Tax effects relating to components of other comprehensive income
• 25 Other assets
• 26 Cash and cash equivalents
• 27 Liabilities from insurance and investment contracts
• 28 Liabilities from unit-linked insurance and investment contracts
• 29 Financial liabilities
• 30 Provisions
• 31 Employee benefits
• 32 Other liabilities
• 33 Contingent liabilities and commitments
• 34 Equity and reserves
• 35 Related party disclosures
• 36 Incentive schemes
• 37 Auditors' fees
• 38 Legal proceedings
• 39 Investments in subsidiaries
• 40 Investments in shares and participations other than subsidiaries and associates
• 41 Events after the balance sheet date

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32 Other liabilities
P&C insurance
EURm				2014	2013
Liabilities arising out of direct insurance operations				155	148
Liabilities arising out of reinsurance operations				37	49
Liabilities related to Patient Insurance Pool				115	68
Tax liabilities				85	113
Prepayments and accrued income				27	197
Other				284	119
P&C insurance, total				702	694
The non-current share of other liabilities is EURm 102 (57).
Item Other includes e.g. witholding taxes, social expenses related to Workers Compensation insurance policies and employee benefits, unpaid premium taxes and other accruals.
Life insurance
EURm				2014	2013
Interests				8	7
Tax liabilities				23	18
Liabilities arising out of direct insurance operations				7	6
Liabilities arising out of reinsurance operations				4	5
Settlement liabilities				90	26
Guarantees received				35	31
Other liabilities				43	37
Life insurance, total				209	129
Item Guarantees received comprise assets accepted as guarantees required in derivative trading and securities lending.
Item Other includes e.g. liabilities arising from withholding taxes and social security costs, liabilities to creditors and insurance premium advances.
Holding
EURm				2014	2013
Interests				34	34
Guarantees for trading in derivatives				47	47
Liability for dividend distribution				30	26
Other				24	21
Holding, total				134	129
Item Other includes e.g. reservations for share-based incentive programmes and other incentive salaries.
Elimination items between segments				-11	-11
EURm				2014	2013
Group, total				1,035	941

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