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| 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 |
| Total | 1,114,389 | 2,134,175 |
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
