165 ANNUAL REPORT 2010 SHARPENING OUR FOCUS DPAC Deferred  transaction  costs Unamortized  interest rate  rebates At January 1, 2010 10,900 328 253 Costs deferred / rebates granted during the year 1,540 72 24 Disposal of group assets (69) – (2) Amortization through income statement (1,269) (37) (47) Shadow accounting adjustments (489) – – Net exchange differences 734 20 – Other (7) (3) – AT DECEMBER 31, 2010 11,340 380 228 2010 2009 DPAC for insurance contracts and investment contracts with discretionary participation features 11,340 10,900 Deferred transaction costs for investment management services 380 328 Unamortized interest rate rebates 228 253 AT DECEMBER 31 11,948 11,481 Current 1,197 1,180 Non-current 10,751 10,301 Movements during the year in reinsurance assets relating to non-life insurance: 2010 2009 At January 1 881 858 Gross premium and deposits – existing and new business 224 211 Unwind of discount / interest credited 46 40 Insurance liabilities released  (156) (137) Changes to valuation of expected future benefi ts 12 10 Changes in unearned premiums  (117) (99) Changes in unexpired risks  (2) (3) Incurred related to current year 77 68 Incurred related to prior years 15 48 Release for claims settled current year  (23) (22) Release for claims settled prior years  (81) (76) Change in IBNR 2 9 Net exchange differences 69 (27) Other movements – 1 AT DECEMBER 31 947 881 NOTE 12  DEFERRED EXPENSES AND REBATES 