Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 554

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 554
---
2 ‘Other contracts’ are those contracts measured by applying IFRS 17 from inception of the contracts. These include contracts measured under the full

retrospective approach at transition and contracts incepted after transition.

3 ‘Net finance expense from insurance contracts’ expense of $ 6,169m (2023: $ 8,300m expense) comprises expense of $ 5,978m (2023: $ 7,809m expense)

recognised in the income statement and expense of $ 191m (2023: $ 491 m expense) recognised in other comprehensive income.

4 The ‘Other movements‘ reduction of $ 23,459m in insurance contracts includes $ 21,811m in respect of our French insurance business, classified as held for sale

at 31 December 2024. Further details are provided on page 434 .

| HSBC Holdings plcAnnual Report on Form 20-F | 393 |

| Movements in carrying amounts of insurance contracts – analysis by measurement component |                                         Year ended 31 Dec2024 |                                                  |                 |       |                                       |                                                               |                            |       |       |        |         |
|:-----------------------------------------------------------------------------------------|--------------------------------------------------------------:|-------------------------------------------------:|----------------:|------:|--------------------------------------:|--------------------------------------------------------------:|---------------------------:|------:|------:|-------:|--------:|
|                                                                                          |        Life direct participating and investment DPF contracts |                                                  |                 |       |                                       |                                          Life other contracts |                            |       |       |        |         |
|                                                                                          | Estimatesof presentvalue offuture cashflows andriskadjustment |                       Contractual service margin |                 |       |                                       | Estimatesof presentvalue offuture cashflows andriskadjustment | Contractual service margin |       |       |        |         |
|                                                                                          |                         Contractsunder thefair valueapproach1 | Contractsunder themodifiedretros-pectiveapproach | Othercontracts2 | Total | Contractsunder thefair valueapproach1 |              Contractsunder themodifiedretros-pectiveapproach |            Othercontracts2 | Total | Total |        |         |
|                                                                                          |                                                            $m |                                               $m |              $m |    $m |                                    $m |                                                            $m |                         $m |    $m |    $m |     $m |      $m |
| Opening assets                                                                           |                                                           -30 |                                                3 |               — |    14 |                                   -13 |