a. Insurance Companies: Arab Insurance Group (AIG) ARAB INSURANCE GROUP (B.S.C.) CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2021 (In thousands of U.S. Dollars) LIABILITIES Technical provisions Insurance payables Other liabilities TOTAL LIABILITIES 15 18 19 255,778 49,863 29,093 334.734 408,869 80,664 38,672 528,205 15. TECHNICAL PROVISIONS US$ '000 2021 2020 General insurance businoss Claims outstanding Unreported losses Unearned premiums 142,545 78,372 3,956 224,873 200,511 146,760 27.112 374,383 Life insurance business Claims outstanding Unreported losses Unearned premiums 10,973 19,767 165 30,905 255,778 12,404 21,766 316 34,486 408,869 The mean term of reserves is 2.9 years and 2.7 years for non-life and life business respectively. Required Explain Technical provision as it relates to the above extract, showing how it can be calculated