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 are available on the TRG meeting page on the IASB’s website. In addition, a summary on the meeting is expected soon.
For more information, see the press release on the IASB’s website.