Insurance, pension and standardised gurantee schemes

consist of:

•non-life insurance technical reserves – amounts identified by the insurance companies to account for premiums prepaid and claims incurred but not yet paid

•pensions includes the extent of financial claims both existing and future pensioners hold against either their employer or a fund nominated by the employer to pay pensions earned as part of a compensation agreement between the employer and the employee

•standardised guarantee schemes are schemes for which the probability of default can be well established; for example, guarantees issued by governments on export credit or student loans.

Note that for this item within the tables, the current data only relates to insurance technical reserves.