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## 16 Insurance reserves 

<img src='content_image/40009.jpg'>

## Aggregate policy reserves 

The Group’s life insurance companies offer a wide range of traditional life insurance, financial and investment products. Traditional life in- surance products consist of both short and long-duration policies with participating and non-participating features. Short-duration traditional life insurance products include term, accident and health contracts. Long duration traditional life insurance products include individual and group whole-life, endowment, guaranteed renewable term and accident and health, and annuity contracts. Financial and investment products consist of universal life, unit-linked products (variable an- nuities), single premium annuities, and guaranteed investment con- tracts. 

Aggregate policy reserves at the balance sheet date – split by the var- ious profit participation systems – were as follows: 

<img src='content_image/40013.jpg'>

