Amendments to IFRS 17 – International Accounting Standards Board

Date recorded:

At its meeting on February 25, 2020, the IASB met to discuss the feedback on its Exposure Draft relating to:

  1. contractual service margin attributable to investment services;
  2. level of aggregation—annual cohorts for insurance contracts with intergenerational sharing of risks between policyholders;
  3. applicability of the risk mitigation option—non-derivative financial instruments at fair value through profit or loss;
  4. minor amendments;
  5. additional specific transition modifications and reliefs; and
  6. other topics raised by respondents to the Exposure Draft.

The Board made tentative decisions in respect of each of these items. The Board will redeliberate the remaining two topics (a) the effective date of IFRS 17 and (b) the extension of the IFRS 9 temporary exemption in IFRS 4 at its March 2020 meeting. At the same meeting, the Board will be asked to give permission to start the balloting process for finalizing the amendments to IFRS 17.

Review the IASB Update and podcast on the Board's Web site.

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