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IFRS in Focus — Transition resource group discusses implementation of IFRS 17 Insurance Contracts

Published on: Feb 12, 2018

The Transition Resource Group (TRG) for Insurance Contracts held its first technical meeting 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.

Please click below to download our summary of the discussions at the meeting.

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