|Investment contracts – carrying amount||31 December 2014||31 December 2013|
|Investment contracts with guaranteed and fixed terms and conditions||520,840||1,250,492|
|- measured at amortised cost||520,840||1,250,492|
|Unit-linked investment contracts||587,267||870,545|
|Total investment contracts – carrying amount||1,108,107||2,121,037|
Upon initial recognition, unit-linked investment contracts were classified as financial liabilities measured at fair value through profit or loss.
|Total expected cash flows from investment contracts||31 December 2014||31 December 2013|
|Up to 1 year||989,481||1,890,179|
|Over 1 year and up to 5 years||124,908||243,996|
As at 31 December 2014, the fair value of liabilities under investment contracts with guaranteed and fixed terms and conditions amounted PLN 520,383 thousand (as at 31 December 2013: PLN 1,253,256 thousand).
Financial assets related to investment contracts:
- with guaranteed and fixed terms and conditions – bank deposits presented as “Loans and receivables – term deposits with credit institutions” described in point 33.4 or treasury bonds classified mainly as held to maturity;
- unit-linked – include mainly units in investment funds, recognized as “Financial instruments measured at fair value through profit or loss – held for trading – equity instruments – not listed on a regulated market”, derivative instruments recognized as “Financial instruments measured at fair value