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AcSB Insurance Transition Resource Group Meeting Notes – September 17, 2018

  • IFRS - AcSB Image

Oct 03, 2018

On October 3, 2018, the Accounting Standards Board (AcSB) released a summary of its Insurance Transition Resource Group meeting held on September 17, 2018.

The topics discussed at this meeting include:

  • Conversions under IFRS 17
  • Risk adjustment for worker’s compensation boards
  • Insurance risk consequent to an incurred claim
  • Determining discount rates using a top-down approach
  • Commissions and reinstatement premiums in reinsurance contracts issued
  • Premium experience adjustments related to current or past service
  • Cash flows that are outside the contract boundary at initial recognition
  • Recovery of insurance acquisition costs
  • Premium waivers
  • Group insurance policies
  • Industry pools managed by association
  • Annual cohorts for contracts that share in the return of a specific pool of underlying assets
  • Reporting on other questions submitted to the IASB Transition Resource Group for IFRS 17

Review the summary on the AcSB's website.

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