IFRS Project Insights — Insurance contracts
IFRS Project Insights provide a quick overview of the key projects of the IASB, with a summary of the current status, key decisions and proposals, key considerations for entities and the next steps expected in the project.
During February 2013, the IASB met to complete its planned technical discussions of the proposed model for accounting for insurance contracts. The IASB discussed the transition requirements for contracts acquired through a business combination and reviewed the due process necessary before beginning the balloting process. In separate meetings, the FASB discussed segregated assets related to direct performance linked insurance contracts, accretion of interest on the margin, reconsideration of the measurement of investment components and the aggregate insurance contracts revenue, transition, effective date and comparative financial statements, early adoption and the comment period.
Last updated: 4 March 2013