Need to know — Transition Resource group discusses implementation of IFRS 17 'Insurance Contracts'
Published on:
09 Feb, 2018
On 6 February 2018 the IFRS Transition Resource Group for implementation of IFRS 17 Insurance Contracts (TRG) held its first meeting.
Topics discussed were:
- Separation of insurance components of a single insurance contract
- Boundary of contracts with annual repricing mechanism
- 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