Related Discussions

• Insurance contracts

• 23 May 2018

• The Board was updated on the activities undertaken to support implementation of IFRS 17.

• Insurance contracts

• 22 Feb 2018

• The purpose of this session was to update the Board on the activities undertaken to support implementation of IFRS 17 since its publication in May 2017.

• Insurance contracts

• 18 Jul 2017

• The Board considered feedback from investors and analysts on the new Insurance Contracts standard gathered from 35 discussions held since its publication.

• Insurance contracts

• 24 Apr 2017

• The Board was briefed on the strategy for supporting the implementation of the forthcoming IFRS 17 'Insurance Contracts'.

• Insurance contracts – Oral update

• 21 Mar 2017

• In this brief oral update on the Insurance Contracts project, it was noted that the post-ballot drafts have been circulated internally and the staff expect to publish the new Standard in the second half of May 2017.

• Insurance contracts

• 22 Feb 2017

• The purpose of this session was to discuss the findings from the external editorial review of a draft of IFRS 17.

• Insurance contracts

• 18 Jan 2017

• The Staff provided the IASB with a brief oral update on the insurance contracts project (no agenda paper for this session).

• Insurance contracts

• 16 Nov 2016

• The purpose of this session was to discuss elements of the draft of IFRS 17, "Insurance Contracts," which included level of aggregation, experience adjustments, transition issues, mitigating financial risks reflected in insurance contracts, sweep issues, and effective date.

• Insurance and IFRS 9

• 18 Jul 2016

• The purpose of this session was to discuss additional feedback related to disclosures.

• Insurance contracts

• 22 Jun 2016

• The Board discussed (1) the objective for the level of aggregation to be applied in measuring the contractual service margin (CSM) after initial recognition, (2) changes in the carrying amount of the CSM for insurance contracts without direct participation features, (3) the requirements for the presentation and disclosure of insurance finance income or expenses, and (4) amending the scope of the variable fee approach to exclude reinsurance contracts issued and held.

• Insurance contracts

• 16 Feb 2016

• The Board met on the 16 February to discuss the due process steps taken to date, decide on whether the project is at the stage ready for ballot and to discuss Board members’ final concerns before drafting. Majority of the Board members congratulated the Staff on their hard work in getting the insurance project to this final stage.

• Insurance contracts

• 19 Jan 2016

• The package of papers for the Board discussion considered the remainder of the planned technical decisions on accounting for insurance contracts: Agenda Paper 2 provided a summary of the issues to be considered and the next steps, Agenda Paper 2A considered whether, and if so at what level, insurance contracts should be aggregated for the purposes of (a) recognition of losses on onerous contracts, and (b) the allocation of the contractual service margin (CSM); and Agenda Paper 2B considered whether and how to specify how to determine the effect of discretion in participating contracts under the general model.

• Insurance contracts

• 18 Nov 2015

• The IASB focused its discussions on the variable fee approach, specifically a summary overview of the approach and the decisions reached to date, a comparison of the variable fee approach with the general model and whether the two approaches could be viewed as part of a single measurement model, and three consequential issues for the variable fee approach arising out of the other tentative decisions.

• Insurance and IFRS 9

• 21 Oct 2015

• In September the IASB decided, after the Chairman had exercised a casting vote, to propose a package of temporary measures in relation to the application of the new financial instruments Standard, IFRS 9, before the new insurance contracts Standard comes into effect. At this meeting the IASB discussed how those measures would apply to first-time adopters and set the comment period.

• Insurance contracts

• 21 Oct 2015

• The 2013 exposure draft proposed a “mirroring approach” to the measurement and presentation of contracts that meet specified criteria. In this session the staff asked the IASB to decide whether that approach should be retained in the proposed IFRS on insurance contracts.

• Insurance contracts - second session

• 24 Sep 2015

• The IASB discussed the accounting consequences of mitigating risks related to insurance contracts.

• Insurance contracts: IFRS 9 and IFRS 4 - second session

• 23 Sep 2015

• After Monday's tied vote, the subject of the interaction between IFRS 9 and the forthcoming standard on insucrance contracts was discussed again on Wednesday.

• Insurance contracts - first session

• 23 Sep 2015

• The IASB discussed the mechanics of the disaggregation of changes in an insurance liability due to changes in market variables between profit or loss and other comprehensive income (OCI).

• Insurance contracts: IFRS 9 and IFRS 4 - first session

• 21 Sep 2015

• The IASB discussed the consequences of the different effective dates of IFRS 9 Financial Instruments (IFRS 9) and the new IFRS on insurance contracts.

• Insurance contracts

• 20 Jul 2015

• The IASB held a meeting on 20 July 2015 to address the consequences of different effective dates of IFRS 9 Financial Instruments (IFRS 9) and the new insurance contracts Standard. At this meeting the IASB took a decision to amend IFRS 4 Insurance Contracts (IFRS 4) to permit an entity to exclude from profit or loss and recognise in other comprehensive income the difference between the amounts that would be recognised in profit or loss in accordance with IFRS 9 and the amounts recognised in profit or loss in accordance with IAS 39 Financial Instruments: Recognition and Measurement (IAS 39), subject to meeting certain criteria.

• Insurance contracts

• 25 Jun 2015

• The IASB held an education session on 23 June 2015 to consider the hedging of risks related to insurance activities, and three issues relating to insurers’ application of IFRS 9 'Financial Instruments' prior to the effective date of the new IFRS on insurance contracts. At the meeting held on 25 June, the IASB discussed the application of the general model to contracts with participation features. At this meeting the IASB took decisions on the variable fee approach for direct participation contracts and the recognition of the contractual service margin (CSM) in profit or loss for contracts with participation features.

• Insurance contracts

• 20 May 2015

• The Board discussed the application of variable fee approach, proposed accounting for indirect participation contracts, and the interaction between IFRS 9 and the insurance contracts project.

• Insurance contracts

• 27 Mar 2015

• The meeting discussed a presentation from the Accounting Standards Board of Japan (ASBJ), which proposed that the contractual service margin (CSM) of an insurance contract should be presented in the accumulated balance of other comprehensive income (AOCI), and sought the ASAF’s advice on specific issues relating to the new insurance contracts Standard as the earliest possible mandatory date of this Standard will be after the mandatory effective date of IFRS 9 'Financial Instruments'.

• Insurance contracts

• 19 Mar 2015

• The IASB held an education session on 19 March 2015 to discuss adaptations for insurance contracts that provide policyholders with benefits that are dependent from returns generated by underlying items (such as investment returns from financial assets) that the insurer holds to back those insurance liabilities (“participating contracts”).

• Insurance contracts

• 19 Feb 2015

• The IASB held an education session on 19 February 2015 during which it discussed the level of aggregation of insurance contracts for recognition and measurement purposes with a particular emphasis on assessing the possible differences that the new IFRS would have to consider if the contracts have participation features.