group of contracts that the Group pays or receives before the group of insurance contracts is recognised. The Group calculates the loss-recovery component by multiplying the loss recognised on the underlying insurance contracts and the percentage of claims on the underlying insurance contracts the Group expects to recover from the group of reinsurance contracts held. The Group uses a systematic and rational method to determine the portion of losses recognised on the group to insurance contracts covered by the group of reinsurance contracts held where some contracts in the underlying group are not covered by the group of reinsurance contracts held. Reinsurance contracts - subsequent measurement The Group measures the carrying amount of the liability for remaining coverage at the end of each reporting period as the liability forremaining coverage at the beginning of the period: • Plus premiums received in the period; • Minus insurance acquisition cash flows, with the exception of property insurance product line for which the Group chooses to expense insurance acquisition cash flows as they occur; • Plus any amounts relating to the amortisation of the insurance acquisition cash flows recognised as an expense in the reporting period for the group; • Plus any adjustment to the financing component, where applicable; • Minus the amount recognised as insurance revenue for the services provided in the period; and • Minus any investment component paid or transferred to the liability for incurred claims. The Group estimates the liability for incurred claims as the fulfilment cash flows related to incurred claims. The fulfilment cash flows incorporate, in an unbiased way, all reasonable and supportable information available without undue cost or effort about the amount, timing and uncertainty of those future cash flows, they reflect current estimates from the perspective of the Group, and include an explicit adjustment for non- financial risk (the risk adjustment). The Group does not adjust the future cash flows for the