(20) Benefit reserve

N114 BENEFIT RESERVE
  FIGURES IN EUR MILLION
      Gross Re Net Gross Re Net
   
    2013 2012
  Balance as at 31.12 of the previous year 48,248 1,017 47,231 45,739 988 44,751
  Change in scope of consolidation 144 1 143
  Portfolio entries/withdrawals –191 –177 –14 138 66 72
  Allocations 5,507 120 5,387 5,020 102 4,918
  Releases 3,534 119 3,415 2,853 138 2,715
  Reclassification pursuant to IFRS 5 –16 –16
  Other changes 23 23
  Exchange rate movements –286 –9 –277 76 –2 78
  Balance as at 31.12 of the financial year 49,767 832 48,935 48,248 1,017 47,231
  

International Financial Reporting Standards – IFRS  4 requires disclosure that helps explain the amount and timing of future cash flows from insurance contracts. The following table shows the benefit reserve according to expected maturities. In connection with the analysis of maturities, we directly deducted deposits provided for the purpose of hedging this reserve, since cash inflows and outflows from these deposits are to be attributed directly to cedants.

N115 BENEFIT RESERVE
  FIGURES IN EUR MILLION
      Gross Re Net Gross Re Net
               
    2013 2012
  One year or shorter 2,828 47 2,781 3,124 130 2,994
  Longer than one year, up to five years 8,869 208 8,661 8,457 147 8,310
  Longer than five years, up to ten years 9,709 281 9,428 8,953 155 8,798
  Longer than ten years, up to 20 years 11,590 164 11,426 11,350 182 11,168
  Longer than 20 years 9,498 126 9,372 8,973 133 8,840
  Deposits 7,273 6 7,267 7,391 270 7,121
  Total 49,767 832 48,935 48,248 1,017 47,231