249 36 Subordinated borrowings 37 Insurance contracts Subordinated borrowings are subordinated to all other unsubordinated borrowings and liabilities. There have been no defaults or  breaches of conditions during the period. Subordinated borrowings include a liability of EUR 44 million (2012: EUR 42 million) relating to the non-cumulative subordinated notes  issued on February 7, 2012. The liability component of the non-cumulative subordinated notes is related to the redemption amount.  For further information on the non-cumulative subordinated notes and its subordination refer to note 34. 2013 2012 Life insurance 90,803 93,662 Non-life insurance - Unearned premiums and unexpired risks 3,886 4,093 - Outstanding claims 1,990 1,978 - Incurred but not reported claims 680 675 Incoming reinsurance 3,284 3,596 At December 31 100,642 104,004 2013 2012 Non-life insurance: - Accident and health insurance 5,917 6,097 - General insurance 638 649 Total non­life insurance 6,555 6,746 Movements during the year in life insurance: 2013 2012 At January 1 93,662 93,456 Acquisitions though business combinations 9 - Disposals - (8) Portfolio transfers and acquisitions 1,262 54 Gross premium and deposits – existing and new business 7,234 6,369 Unwind of discount / interest credited 4,504 3,996 Insurance liabilities released (10,779) (10,792) Changes in valuation of expected future benefits (1,321) 347 Loss recognized as a result of liability adequacy testing 3 1 Shadow accounting adjustments (692) 389 Net exchange differences (3,079) (519) Transfer (to) / from insurance contracts for account of policyholders (16) 277 Other 14 92 At December 31 90,803 93,662