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IFRS 17 — Insurance Contracts

Deloitte Touche Tohmatsu Guidance

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Recent Changes to the Deloitte Q&As in IFRS 17 Insurance ContractsQ&A IFRS 17: 2-1 — Separating Insurance Components of a Single Insurance ContractQ&A IFRS 17: 2-2 — Determining the Issuing Entity when Insurance Contracts are in the Industry Pool that is Managed by an AssociationQ&A IFRS 17: 6-1 — Do Loans with a Balance Waiver Upon Death, such as Equity-Release Mortgages, contain Insurance Risk?Q&A IFRS 17: 6-2 — When is Insurance Risk in an Equity-Release Mortgage Significant?Q&A IFRS 17: 9-1 — Meaning of ‘Related Counterparty’ in IFRS 17Q&A IFRS 17: 9-2 — When is it Necessary to Treat a Set or Series of Insurance Contracts as a Whole?Q&A IFRS 17: 10-1 — The level at which an entity assesses and identifies an investment component in an insurance contract that provides a profit return determined at the level of an annual cohort in a specified portfolioQ&A IFRS 17: 10-EX-1 — Examples of Distinct and Non-Distinct Investment Components of an Insurance ContractQ&A IFRS 17: 11-1 — Accounting For Equity-Release Mortgage Under IFRS 17Q&A IFRS 17: 13-1 — Unit of Account For Assessing Significant Insurance RiskQ&A IFRS 17: 24-1 — ReservedQ&A IFRS 17: 24-EX-1 — ReservedQ&A IFRS 17: 24-EX-2 — Insurance Acquisition Cash Flows Expected to Be Recovered From Contracts Outside the Group — Indirect Acquisition Cash Costs Allocated to a Portfolio of Groups of Insurance Contracts — ExampleQ&A IFRS 17: 27-1 — Ceding Commissions in Reinsurance Contracts IssuedQ&A IFRS 17: 30-1 — Foreign Currency Translation of the Contractual Service Margin Recognised in Profit or LossQ&A IFRS 17: 30-2 — Foreign Currency Translation of the Contractual Service Margin Recognised in the Statement of Financial Position at the End of the Reporting PeriodQ&A IFRS 17: 33-1 — Premium waiver presentation in profit or lossQ&A IFRS 17: 34-1 — Contract Boundary of Reinsurance Contracts HeldQ&A IFRS 17: 34-2 — Determining the Contract Boundary For Insurance Contracts that Include an Option to Add Insurance Coverage at a Future DateQ&A IFRS 17: 34-3 — Contract boundary of a reinsurance contract with the co-existence of two termination clausesQ&A IFRS 17: 34-4 — Contract boundary of reinsurance contracts issuedQ&A IFRS 17: 34-5 — Definition of a portfolio when determining the boundary of an insurance contractQ&A IFRS 17: 37-1 — Level At Which The Risk Adjustment For Non-Financial Risk Should Be Determined In An Industry Pool Managed By An AssociationQ&A IFRS 17: 39-1 — Does the Reference to a ‘Business Combination’ in IFRS 17.39 Include Business Combinations Under Common Control?Q&A IFRS 17: 40-1 — Accounting for the reinstatement of a lapsed contractQ&A IFRS 17: 45-1 — Changes in the fair value of underlying items applying the variable fee approach - statutory measuresQ&A IFRS 17: 47-1 — Treatment of insurance acquisition cash flows when performing the onerous contract test applying the premium allocation approach (PAA) and the insurer has elected to recognise such cash flows as an expense immediately when incurredQ&A IFRS 17: 53-1 — Reassessment of premium allocation approach eligibility and electionQ&A IFRS 17: 55(b)(i)-1 — Meaning of ‘Premium Received’ When Applying the Premium Allocation ApproachQ&A IFRS 17: 55(b)(v)-1 — Estimation of Liability for Remaining Coverage When Insurance Coverage Services Have Been Provided During the Period but the Premium Is Expected to Be Received in the FutureQ&A IFRS 17: 59(b)-1 — Meaning of ‘Claims Incurred’ When Applying the Premium Allocation ApproachQ&A IFRS 17: 62(a)-1 — Contract Boundary of Proportionate Reinsurance Contracts HeldQ&A IFRS 17: 63-1 — Risk of non-performance of the issuer of a reinsurance contract heldQ&A IFRS 17: 66B-1 — Impact of increases in loss component of underlying onerous contracts arising from cash flows not covered by a reinsurance contract held on the reinsurance recovery componentQ&A IFRS 17: 72-1 — Exercising an option included within the insurance contractQ&A IFRS 17: 73-1 — Treatment of Changes in Estimates as a Result of Contract Modifications Not Meeting Derecognition Criteria For Contracts Accounted For Using the Premium Allocation ApproachQ&A IFRS 17: 73-EX-1 — Treatment of Changes in Estimates as a Result of Contract Modifications Not Meeting Derecognition Criteria For Contracts Accounted For Using The Premium Allocation Approach — ExampleQ&A IFRS 17: 86-1 — Accounting for commissions in reinsurance contacts issuedQ&A IFRS 17: 89-1 — Changes in the fair value of underlying items applying the variable fee approach - disaggregating insurance finance income and expensesQ&A IFRS 17: 103-1 — Disclosure of changes in loss components when experience adjustments arise from premiums receivedQ&A IFRS 17: 104-1 — Measuring and disclosing the effect of the new business (contracts initially recognised during the period) in an entity’s annual financial statementsQ&A IFRS 17: Appendix A-1 — Accounting For Insurance Risk that Arises as a Consequence of an Incurred ClaimQ&A IFRS 17: B11-1 — Can Terms in an Insurance or Investment Management Contract that Waive Premiums in Specified Circumstances Create Insurance Risk?Q&A IFRS 17: B24-1 — Definition of an insurance contract and contract boundaryQ&A IFRS 17: B64-1 — Sources of Constraints on an Entity’s Practical Ability to Reassess Risks and Set a Price or Level of Benefits That Fully Reflects Those RisksQ&A IFRS 17: B64-2 — Cash flows outside the contract boundary at initial recognitionQ&A IFRS 17: B64-3 — Subsequent treatment of cash flows that at initial recognition are outside the cancellable reinsurance contract’s boundary - exampleQ&A IFRS 17: B66(d)-1 — Inclusion of Training and Development Costs in the Estimate of Fulfilment Cash FlowsQ&A IFRS 17: B73-1 — Weighted average discount rateQ&A IFRS 17: B88-1 — Consideration of reinsurance in the risk adjustment for non-financial risk of insurance contracts issuedQ&A IFRS 17: B88-2 — Determination of the risk adjustment for non-financial risk when an entity considers the effect of reinsurance - exampleQ&A IFRS 17: B97(c)-1 — Should Premium Experience Adjustments Adjust the Contractual Service Margin or be Recognised Immediately in Profit or Loss?Q&A IFRS 17: B98-1 — Reflecting uncertainty related to management discretion in the risk adjustmentQ&A IFRS 17: B101-1 — Eligibility of the Variable Fee Approach for Participating Insurance Contracts When the Return Is Based on the Amortised Cost Measurement of the Underlying ItemsQ&A IFRS 17: B101-2 — Definition of insurance contracts with direct participation featuresQ&A IFRS 17: B119-1 — How to Determine Coverage Units to Reflect the Services Provided Under a Group of Insurance Contracts Without Participating FeaturesQ&A IFRS 17: B119-2 — Methods for Determining the Amount of Coverage Units to Reflect Services Provided Under a Group of Insurance Contracts Without Participating FeaturesQ&A IFRS 17: B124-1 — Treatment of changes in fulfilment cash flows of reinsurance contracts issued which are caused by a difference in the volume of underlying reinsured insurance contracts and the associated recognition of insurance revenue and insurance service expenses.Q&A IFRS 17: B125-1 — Accounting For Changes in Insurance Acquisition Cash Flows Included in the Fulfilment Cash Flows of the Recognised Group of Insurance ContractsQ&A IFRS 17: B125-2 — Accounting For Non-Recoverable Insurance Acquisition Cash FlowsQ&A IFRS 17: B125-3 — Interest accretion on insurance acquisition cash flowsQ&A IFRS 17: B128-1 — Changes in fulfilment cash flows as a result of inflationQ&A IFRS 17: B130-1 — Recognition of experience adjustments in other comprehensive income when applying the disaggregated presentation optionQ&A IFRS 17: B137-1 — Measurement of the Contractual Service Margin in the Interim and Annual Financial Statements when the Group and the Subsidiary have a Different Frequency of ReportingQ&A IFRS 17: C20-1 — Insurance Acquisition Cash Flows Incurred Before the Transition Date When the Fair Value Approach Is Applied Q&A IFRS 17: C20-2 — Consideration of the liability for incurred claims when determining the contractual service margin or loss component for a group of insurance contracts at transition date using the fair value approachQ&A IFRS 17: C20-3 — Fair value of insurance contracts on transition to IFRS 17