IFRS in Focus — Transition Resource group discusses implementation of IFRS 17 'Insurance Contracts'
Published on:
12 Feb 2018
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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.
Please click to download our summary of the discussions at the meeting below.
