4.6. Debtors
As at 31 December 2016
| (CZK’000) | Receivables from policyholders | Receivables from insurance intermediaries | Reinsurance receivables | Other receivables | Total |
|---|---|---|---|---|---|
| Current | 87,303 | 17,764 | 703,096 | 345,959 | 1,154,122 |
| Overdue | 549,423 | 99,681 | – | 41,465 | 690,569 |
| Total | 636,726 | 117,445 | 703,096 | 387,424 | 1,844,691 |
| Allowances | 344,243 | 101,836 | – | 41,420 | 487,499 |
| Total receivables, net | 292,483 | 15,609 | 703,096 | 346,004 | 1,357,192 |
As at 31 December 2015
| (CZK’000) | Receivables from policyholders | Receivables from insurance intermediaries | Reinsurance receivables | Other receivables | Total |
|---|---|---|---|---|---|
| Current | 65,625 | 24,894 | 568,741 | 112,841 | 772,101 |
| Overdue | 490,683 | 108,473 | – | 42,170 | 641,326 |
| Total | 556,308 | 133,367 | 568,741 | 155,011 | 1,413,427 |
| Allowances | 305,191 | 110,251 | – | 41,205 | 456,647 |
| Total receivables, net | 251,117 | 23,116 | 568,741 | 113,806 | 956,780 |
Unpaid receivables from direct insurance and reinsurance operations are not secured. Receivables with related parties are disclosed in note 5.
Other receivables as at 31 December 2016 comprise the advance in amount of CZK 40,031 thousand (in 2015 in the same amount of CZK 40,031 thousand) provided in 2007 for a purchase of a special purpose entity (note 6.3). To this advance was created an allowance in line with prudence principle.
Other current receivables as at 31 December 2016 include operative advance payments in the amount of CZK 57,662 thousand (in 2015 in the amount of CZK 65,539 thosuand), receivables from collateral related to derivatives in the amount of CZK 160,013 thousand (in 2015 in the amount of CZK 7,837 thousand) and a receivable for purchase of interest in mutual fund Generali PPF Emerging Europe in the amount of CZK 54,040 thousand.
Changes in bad debt allowance may be analyzed as follows:
| (CZK’000) | 2016 | 2015 |
|---|---|---|
| Opening balance as at 1 January | 456,647 | 531,764 |
| Creation of allowances (note 4.17) | 446,234 | 416,313 |
| Release of allowances (note 4.17) | (368,652) | (440,118) |
| Use of allowances (note 4.17) | (46,730) | (51,312) |
| Closing balance as at 31 December | 487,499 | 456,647 |
All receivables are short term.