Insurance contracts transition resource group holds first technical meeting
07 Feb, 2018
The Transition Resource Group (TRG) for Insurance Contracts held its first technical meeting on 6 February 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.
For more information, see the press release on the IASB’s website. Our related Need to know publication is available here.