Need to know — Second Transition Resource Group meeting discussing the implementation of IFRS 17 Insurance Contracts
On 2 May 2018 the IFRS Transition Resource Group for implementation of IFRS 17 Insurance Contracts (TRG) held its second meeting.
The TRG discussed the following topics:
- Combination of insurance contracts
- Risk adjustment for non-financial risk in a group of entities
- Cash flows within the contract boundary
- Boundary of reinsurance contracts held with repricing mechanisms
- Determining the quantity of benefits for identifying coverage units
- Implementation challenges outreach report
- Reporting on other questions submitted
Of the items discussed, the following matters will be referred to the IASB Board:
- Determining the quantity of benefits for identifying coverage units (agenda paper 5)
- The report on implementation challenges (agenda paper 6)
In addition, the TRG members were split on the level of determination for the risk adjustment for non-financial risk.
Note that there is not a pdf version available to download.