21. 2022 R'm Participating Nonparticipating Reinsurance outwards Short-Term Insurance Short-Term Insurance Reinsurance outwards TOTAL INSURANCE REVENUE Contracts not measured under the PAA Amounts relating to changes in the LRC: Expected incurred claims and other directly attributable expenses 3 380 537 – – – 3 918 Change in risk adjustment for non-financial risk for the risk expired and notional interest accreted (34) (3) – – – (36) CSM recognised for the services provided – 226 – – – 226 Experience adjustments arising from premiums received in the period other than those that relate to future service 369 (377) – – – (8) Insurance acquisition cash flows recovery 32 1 – – – 33 Insurance revenue from contracts not measured under the PAA 3 748 385 – – – 4 133 Insurance revenue from contracts measured under the PAA – – – 271 – 271 Total insurance revenue 3 748 385 – 271 – 4 404 Insurance service expenses Incurred claims and other directly attributable expenses (3 873) (456) – (249) – (4 578) Experience adjustments arising from acquistion cash flows 2 (2) – (18) – (18) Insurance acquisition cash flows amortisation (32) (1) – – – (33) Total insurance service expenses (3 903) (459) – (267) – (4 629) Analysis of Revenue, Insurance Service Expenses and Net Expenses From Reinsurance Contracts Held (continued) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) for the year ended 31 December 2023 181 Notes to the Consolidated Financial Statements
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