(19) Unearned premium reserve

N113 UNEARNED PREMIUM RESERVE
  FIGURES IN EUR MILLION
      Gross Re Net Gross Re Net
               
    2013 2012
  Balance as at 31.12 of the previous year 5,440 521 4,919 4,677 389 4,288
  Change in scope of consolidation 482 35 447
  Portfolio entries/withdrawals 2 2 –1 1
  Allocations 1,923 154 1,769 1,406 190 1,216
  Releases 1,416 16 1,400 1,090 82 1,008
  Reclassification pursuant to IFRS 5 –1 –1
  Other changes –3 1 –4
  Exchange rate movements –271 –24 –247 –31 –11 –20
  Balance as at 31.12 of the financial year 5,678 635 5,043 5,440 521 4,919
   

The unearned premium reserve covers that portion of gross written premium that is to be attributed as income to the following financial year(s) for a certain period after the balance sheet date. Since the unearned premium reserve essentially does not involve future cash flows with effect on liquidity, we have elected to dispense with information about maturities.