Notes to the Group’s financial statements

Select note 1-41:

32 Other liabilities
Download as Excel

P&C insurance

EURm		2012	2011
	Liabilities arising out of direct insurance operations	149	163
	Liabilities arising out of reinsurance operations	103	69
	Liabilities related to Patient Insurance Pool	55	54
	Tax liabilities	176	105
	Prepayments and accrued income	199	177
	Other	125	127
P&C insurance, total		807	695

The non-current share of other liabilities is EURm 45 (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		2012	2011
	Interests	9	9
	Tax liabilities	0	7
	Liabilities arising out of direct insurance operations	6	6
	Liabilities arising out of reinsurance operations	5	5
	Settlement liabilities	4	2
	Guarantees received	122	88
	Other liabilities	32	35
Life insurance, total		177	151

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		2012	2011
	Interests	34	52
	Guarantees for trading in derivatives	78	43
	Liability for dividend distribution	24	21
	Other	16	10
Holding, total		152	126

Item Other includes e.g. reservations for share-based incentive programmes and other incentive salaries.

Elimination items between segments		-13	-12

EURm		2012	2011
Group, total		1,123	960