Insurance contracts transition resource group holds first technical meeting
Feb 07, 2018
On February 7, 2018, the International Accounting Standards Board (IASB) released the recording of the Transition Resource Group (TRG) for Insurance Contracts' first technical meeting held on February 6, 2018.
The purpose of the TRG is to seek feedback on potential issues related to implementation of IFRS 17, Insurance Contracts. During the meeting, the TRG discussed the following:
- Separation of insurance components of a single contract.
- Boundary of contracts with annual repricing mechanisms.
- Boundary of reinsurance contracts held.
- Insurance acquisition cash flows paid on an initially written contract.
- Determining quantity of benefits for identifying coverage units.
- Insurance acquisition cash flows when using fair value transition.
- Reporting on other questions submitted.
Audio recordings of each session is available on the TRG meeting page on the IASB’s website. In addition, a summary on the meeting is expected soon.
Review the press release on the IASB’s website.
