Acquisition expenses in non-life insurance are deferred in line with the principles applicable to the determination of the provision for unearned premiums by amortizing them through the profit and loss account during the indemnity period (recognized under “Acquisition expenses”).
Deferrals apply to acquisition commissions and a portion of indirect acquisition expenses related to the signing and renewals of
insurance policies, in particular costs related directly to sales processes, which cannot be classified as direct acquisition expenses,
in particular costs of activities related to: agreement origination processes and underwriting processes in sales units (separated
by using working time questionnaires), automatic and manual entry of policies into production systems (registration of sales) and contact center operations related to the sales of policies.