The account is called " outstanding claims" . They also have separate provisions account of merely 61 millions.
I already wrote about the 3 billions in re insurance on separate paragraph.
9 billions represents future cash outflow based on the COR ratio. I.e. This is a liability because most of it has to be " serviced" and it will cost the company normally around 89-91% of the amount of the premium.
You are right on the AP minus AR. My mistake on that.
Goodwill is not cash, but if you fund that with loan... You still have to pay the loan but cant sell the asset to cover it.
Let me know if i miss anything else :)
michael west, page-17
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