Insurance contracts transition resource group holds third technical meeting

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Oct 08, 2018

On October 8, 2018, the International Accounting Standards Board (the Board) released a summary and recording of the Transition Resource Group (TRG) for Insurance Contracts' third technical meeting held on September 26-27, 2018.

The purpose of the TRG is to seek feedback on potential issues related to im­ple­men­ta­tion of IFRS 17, Insurance Contracts. Specifically, the TRG discussed the following:

  • 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 cash flows
  • Premium waivers
  • Group insurance policies
  • Industry pools managed by an association
  • Annual cohorts for contracts that share in the return of a specified pool of underlying items

A summary on the meeting and audio record­ings of each session are available on the TRG meeting page on the Boards’ website.

In addition, see the meeting summary and listen to the podcast on the Board's website.

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