Insurance IFRS 17 webcasts archive
Cancellation rights, payment terms and coverage obligations – How to handle IFRS 17 complexity efficiently
Published on 26 October 2022 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
This webcast is the seventh webcast in a series of on-demand IFRS 17 webcasts, which covers an important topic in IFRS 17 as it relates to how IFRS 17 requirements mandate the accounting of economic substance over legal form. Specifically, the webcast covers the impact of the interplay of the various contractual clauses included in an insurance contract such as cancellation rights, payment terms and coverage obligations on the accounting for insurance contracts applying IFRS 17. The webcast uses a simple, but sufficiently comprehensive example to illustrate the IFRS 17 requirements and explain how complex IFRS 17 requirements can be handled successfully. In particular, the webcast summarises Deloitte's practical considerations on this topic as they have emerged from Deloitte implementation work to date.
The webcast series delivered by Francesco Nagari, Deloitte's Global IFRS Insurance Leader and Liza Gonzalo, IFRS 17 Director, covers Deloitte's insights on the application of IFRS 17 requirements and related technical accounting issues emerging from the various ongoing IFRS 17 implementation projects supported by Deloitte.
Cancellation rights, payment terms and coverage obligations – How to handle IFRS 17 complexity efficiently View or download the presentation
Accounting for cancellation rights, payment terms and coverage obligations
Impact of cash flow settlement arrangements in accounting for reinsurance contracts
Published on 14 April 2022 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
This webcast is the sixth webcast in a series of on-demand IFRS 17 webcasts, which covers the impact on the accounting for and presentation of reinsurance revenue and expenses for contracts with additional contractual amounts such as profit commissions that are settled net. The webcast will also provide viewers with Deloitte's practical considerations on this topic as they emerged from our implementation work to date.
The webcast series delivered by Francesco Nagari, Deloitte's Global IFRS Insurance Leader and Liza Gonzalo, IFRS 17 Director, covers Deloitte's insights on the application of IFRS 17 requirements and related technical accounting issues emerging from the various ongoing IFRS 17 implementation projects supported by Deloitte.
Impact of cash flow settlement arrangements in accounting for reinsurance contracts View or download the presentation
Impact of cash flow settlement arrangements in accounting for reinsurer contracts
Accounting for premium repayments
Published on 3 December 2021 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
This webcast is the fifth webcast in a series of on-demand IFRS 17 webcasts, which covers the requirements of IFRS 17 on premium repayments that do not meet the definition of non-distinct investment component (NDIC).
In the webcast, we cover the IFRS 17 requirements on the accounting for premium repayments that do not meet the definition of NDIC (e.g. refund of premiums, no-claim bonus and experience refund). These transactions are pervasive and there are different pieces of guidance in IFRS 17 that we bring together for you in this webcast. The webcast also provide viewers with Deloitte's practical considerations on this topic as they emerged from our implementation work to date.
The webcast series delivered by Francesco Nagari, Deloitte's Global IFRS Insurance Leader and Liza Gonzalo, IFRS 17 Director, covers Deloitte's insights on the application of IFRS 17 requirements and related technical accounting issues emerging from the various ongoing IFRS 17 implementation projects supported by Deloitte.
Accounting for premium repayments View or download the presentation
Accounting for premium repayments
Contract boundary assessment for reinsurance contracts
Published on 4 November 2021 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
This webcast is the fourth webcast in a series of on-demand IFRS 17 webcasts, which covers the requirements of IFRS 17 on contract boundary assessment for reinsurance contracts.
In the webcast, we cover the IFRS 17 requirements on the contract boundary assessment for reinsurance contracts and highlight the importance of performing such assessment. We use simple examples to illustrate how to do the contract boundary assessment when there are cancellation clauses and repricing clauses included in the reinsurance contract. The webcast also provide viewers with Deloitte's practical considerations on this topic as they emerged from our implementation work to date.
The webcast series delivered by Francesco Nagari, Deloitte's Global IFRS Insurance Leader and Liza Gonzalo, IFRS 17 Director, covers Deloitte's insights on the application of IFRS 17 requirements and related technical accounting issues emerging from the various ongoing IFRS 17 implementation projects supported by Deloitte.
Contract boundary assessment for reinsurance contracts View or download the presentation
Contract boundary assessment for reinsurance protection
Proposed amendment and highlights from the Deloitte comment letter to International Accounting Standards Board
Published on 30 September 2021 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
The International Accounting Standards Board (IASB) published the Exposure Draft (ED) Initial Application of IFRS 17 and IFRS 9 — Comparative Information on 28 July 2021.
The ED proposes to allow insurers to apply a classification overlay in the comparative period on a financial asset that is connected with IFRS 17 insurance contracts. The proposed amendment has the same effective date as that of IFRS 17.
Listen to Francesco Nagari, Deloitte's Global IFRS Insurance Leader, and Liza Gonzalo, IFRS 17 Director, as they discuss with you the key features of the proposed amendment and key observations and Deloitte’s recommendations in a number of areas where we believe the proposals in the ED could be improved.
Proposed amendment and highlights from the Deloitte comment letter View or download the presentation
IFRS Insurance Webcast
IFRS Insurance WebcastsComplexity made simple: accounting for reinsurance protection for onerous contract groups
Published on 21 September 2021 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
This webcast is the second webcast in a series of on-demand IFRS 17 webcasts, which covers the requirements of IFRS 17 on the accounting for reinsurance loss recovery component.
In the webcast, we cover the IFRS 17 requirements on the accounting for the reinsurance loss recovery component. We use a simple example to explain how changes in the loss component from the underlying reinsured contracts trigger the accounting changes in the loss recovery component. The webcast also provides viewers with Deloitte's practical considerations on this topic as they emerged from our implementation work to date.
The webcast series delivered by Francesco Nagari, Deloitte's Global IFRS Insurance Leader and Liza Gonzalo, IFRS 17 Director, covers Deloitte's insights on the application of IFRS 17 requirements and related technical accounting issues emerging from the various ongoing IFRS 17 implementation projects supported by Deloitte.
Complexity made simple: accounting for reinsurance protection for onerous contract View or download the presentation
IFRS Insurance Webcast
IFRS Insurance WebcastsImpairment of assets for insurance acquisition cashflows
Published on 26 August 2021 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
This webcast is the first webcast in a series of on-demand IFRS 17 webcasts delivered by Francesco Nagari, Deloitte's Global IFRS Insurance Leader and Liza Gonzalo, IFRS 17 Director, covering Deloitte's insights on the application of IFRS 17 requirements and related technical accounting issues emerging from the various ongoing IFRS 17 implementation projects supported by Deloitte.
This webcast covers the requirements of IFRS 17 on insurance acquisition cash flows (IACF), with a focus on the two-level impairment test for an IACF asset.
In this webcast, a simple illustrative example is used to walk through the application of the IFRS 17 requirements on impairment of an IACF asset. In addition, this webcast also includes a discussion of some of the practical considerations Deloitte has learned from our implementation work to date.
Impairment of assets for insurance acquisition cash flows Download the presentation
Impairment of assets for insurance acquisition cash flows
Published on 10 July 2020 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
On 25 June 2020, the IASB has issued Amendments to IFRS 17 Insurance Contracts, which makes targeted amendments to the standard, including:
- New effective date for IFRS 17
- New accounting for insurance acquisition cash flows
- New CSM allocation relating to investment services
- Substantial improvement of the accounting for reinsurance held (cedant’s accounting)
- Substantial improvement of the risk mitigation option (a.k.a. VFA* hedge accounting)
- Other amendments impacting several areas of IFRS 17
Listen to Francesco Nagari, Deloitte's Global IFRS Insurance Leader, for the key highlights and outcomes from the recent IASB’s publication on IFRS 17.
Read also Deloitte’s IFRS in Focus article on the IASB amendments to IFRS 17 Insurance Contracts in conjunction with this webcast. This article provides detailed discussions on the amendments to IFRS 17 Insurance Contracts issued by the International Accounting Standards Board (IASB) in June 2020.
The IASB publishes Amendments to IFRS 17 Insurance Contracts Download the presentation
Published on 20 May 2020 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
On 23 April 2020 IASB meeting, the Staff provided the IASB with an oral update on the progress of the balloting process of the Amendments to IFRS 17 and on other activities to support the implementation of IFRS 17.
At its meeting on 20 May 2020, the IASB discussed the following sweep issues identified during the balloting process:
- Accounting for pre-recognition cash flows other than insurance acquisition cash flows
- Use of a systematic and rational allocation method when determining the amount of recovery of losses from reinsurance contracts held
- Inclusion of a separate line item within the analysis of insurance revenue for amounts related to income tax specifically chargeable to policyholders
- Broader definitions for the liability for remaining coverage and the liability for incurred claims
- Applying together the OCI option and the risk mitigation option for contracts applying variable fee approach
- Amendment to paragraph B96(c) to clarify the treatment of the effects of investment components unexpectedly paid or unexpectedly unpaid
- Treatment of assets and liabilities for cash flows related to a group of insurance contracts recognised before the group is recognised
In addition, the IASB has published an article on 28 April 2020 explaining the rationale behind the IASB’s decision to retain unchanged the annual cohort requirements in IFRS 17.
Listen to Francesco Nagari, Deloitte's Global IFRS Insurance Leader and a member of the IFRS 17 TRG, for the key highlights and outcomes from April & May 2020 IASB's discussions and decisions.
Deloitte Global IFRS Insurance Webcast - Tue, June 2, 2020
Published on 1 April 2020 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
At its meeting on 17 March 2020, the IASB meeting decided to:
- Defer the effective date of IFRS 17 (incorporating the amendments) to annual reporting periods beginning on or after 1 January 2023; and
- Extend the fixed expiry date of the temporary exemption from applying IFRS 9 in IFRS 4 to annual reporting periods beginning on or after 1 January 2023.
The IASB approved to start the balloting process and agreed not to re-expose the Amendments to IFRS 17.
The IASB Staff will therefore begin to draft the amendments to IFRS 17 and bring any sweep issues identified during the balloting of the amendments for discussion at a future meeting. They expect the amendments to be issued in the second quarter of 2020.
Listen to Francesco Nagari, Deloitte's Global IFRS Insurance Leader and a member of the IFRS 17 TRG, for the key highlights and outcomes from March 2020 IASB's discussions and decisions.
Deloitte Global IFRS Insurance Webcast - Tuesday, March 24, 2020
Published on 17 March 2020 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
At its meeting on 25 February 2020, the IASB discussed the last set of amendments to IFRS 17. The IASB will discuss the effective date of IFRS 17 and the extension of the IFRS 9 temporary exemption in IFRS 4 during the March 2020 meeting.
During the February 2020 meeting, the IASB addressed the following topics:
- Level of aggregation—annual cohorts for insurance contracts with intergenerational sharing of risks between policyholders.
- Contractual service margin attributable to investment services.
- Risk mitigation option: use of non-derivative financial instruments at fair value through profit or loss as hedging instruments.
- Additional transition reliefs.
- Minor amendments, including 4 editorial corrections to IFRS 17.
- Decisions on other topics raised by the respondents on the ED Amendments to IFRS 17.
Listen to Francesco Nagari, Deloitte's Global IFRS Insurance Leader and a member of the IFRS 17 TRG, for the key highlights and outcomes from February IASB's discussions and decisions.
Deloitte Global IFRS Insurance Webcast - Thursday, March 5, 2020
Published on 6 February 2020 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
At its October and November 2019 meetings, the IASB discussed the feedback from outreach and comment letters on the Exposure Draft (ED) Amendments to IFRS 17.
In the light of that feedback, at its November 2019 meeting, the IASB decided on its plan for redeliberating some of the matters raised by respondents on the ED and approved three list of topics to be deliberated during its next meetings:
(a) Amendments that the IASB Staff has identified for the IASB to confirm at a future meeting without expecting substantial discussion.
(b) Topics that the IASB Staff has identified for the IASB to consider further the feedback from respondents and for which there is an expectation of substantial discussion.
(c) Topics that the IASB Staff has identified as not needing further consideration.All of which were approved in the November 2019 meeting.
On 30 January 2020, the IASB discussed the following topics from the second list drawn at its November 2019 meeting:
(a) Scope exclusion from IFRS 17 for some credit card contracts;
(b) Transition—the prohibition from applying the risk mitigation option retrospectively;
(c) Business combinations—contracts acquired in their settlement period;
(d) Interim financial statements; and
(e) Asset for insurance acquisition cash flows—transition and business combinations.
Listen to Francesco Nagari, Deloitte's Global IFRS Insurance Leader and a member of the IFRS 17 TRG, for the key highlights and outcomes from January 2020 IASB's discussions and decisions.
Deloitte Global IFRS Insurance Webcast Tuesday, February 4, 2020
Published on 3 February 2020 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
At its October and November 2019 meetings, the IASB discussed the feedback from outreach and comment letters on the Exposure Draft (ED) Amendments to IFRS 17.
In the light of that feedback, at its November 2019 meeting, the IASB decided on its plan for redeliberating some of the matters raised by respondents on the ED and approved three list of topics to be deliberated during its next meetings:
On 20 November 2019, the IASB discussed an overview of the Comment Letters received and the feedback on the Exposure Draft Amendments to IFRS 17.
The IASB approved three list of topics that will be deliberated during its next three Board meetings (December 2019, January and February 2020):
(a) Amendments that the IASB Staff has identified for the IASB to confirm at a future meeting without expecting substantial discussion.
(b) Topics that the IASB Staff has identified for the IASB to consider further the feedback from respondents and for which there is an expectation of substantial discussion.
(c) Topics that the IASB Staff has identified as not needing further consideration. All of which were approved in the November 2019 meeting.
On 11 December 2019, the IASB approved unanimously the following topics:
(a) All of the items that were included in the first list drawn at the IASB November 2019 meeting:
- Scope exclusion for loans;
- CSM attributable to investment services—coverage units for insurance contracts with DPF;
- Presentation in the statement of financial position—portfolio instead of group level;
- Applicability of the risk mitigation option—reinsurance contracts held;
- Transition reliefs for business combinations;
- Transition reliefs for the risk mitigation option—application from the transition date and the option to apply the FVA;
(b) Two items from the second list drawn at the IASB November 2019 meeting:
a. Expected recovery of insurance acquisition cash flows; and
b. Reinsurance contracts held–recovery of losses.Listen to Francesco Nagari,
Deloitte's Global IFRS Insurance Leader and a member of the IFRS 17 TRG, for the key highlights and outcomes from December 2019 IASB's discussions and decisions.
Deloitte Global IFRS Insurance Webcast- Thursday, January 16, 2020
IFRS Insurance Webcast Tuesday, 3 December
Published on 4 December 2019 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
On 20 November 2019, the IASB discussed an overview of the Comment Letters received and the feedback on the Exposure Draft Amendments to IFRS 17.
The IASB approved three list of topics that will be deliberated during its next three Board meetings (December 2019, January and February 2020):
- Amendments that the IASB Staff has identified for the IASB to confirm at a future meeting.
- Topics that the IASB Staff has identified for the IASB to consider further the feedback from respondents.
- Topics that the IASB Staff has identified as not needing further consideration.
The outcome of these deliberations will result in the revised text of IFRS 17 to be published in H1 2020.
Listen to Francesco Nagari, Deloitte's Global IFRS Insurance Leader and a member of the IFRS 17 TRG, for the key highlights and outcomes from the IASB's discussions and decisions.
Deloitte Global IFRS Insurance Webcast
IFRS Insurance Webcast Thursday, 26 September
Published on 26 September 2019 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
Deloitte published its Comment Letter on the Exposure Draft Amendments to IFRS 17.
We are generally supportive of the proposals in the Exposure Draft and have recommended a number of areas where these proposals could be improved.
- We propose a principle-based approach that uses existing concepts in IFRS 17 to define ‘investment-return services’.
- We believe that the scope of the proposed amendment to account for reinsurance contracts held should be extended to all types of reinsurance contracts held.
- We think a better solution could be achieved for the application of the risk mitigation option to reinsurance contracts held.
- We think that IFRS 17 could improve its guidance on the accounting for the adjustments to CSM from the changes in fulfilment cash flows arising from contracts with ’mutualisation’ features.
- We also broadly support most of the remaining amendments.
Listen to Francesco Nagari, Deloitte's Global IFRS Insurance Leader and a member of the IFRS 17 TRG, for the key highlights and outcomes of Deloitte Comment Letter on the Exposure Draft Amendments to IFRS 17.
Video: IFRS 17 Webcast - 26 September 2019
IFRS Insurance Webcast Monday, 8 July
Published on 10 July 2019 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
The IASB has published an Exposure Draft Amendments to IFRS 17 to address concerns and implementation challenges identified following the publication of IFRS 17 Insurance Contracts in 2017. The publication of the Exposure Draft follows an assessment of 25 concerns, identified during the IASB's meeting in October 2018, of areas of the standard that global stakeholders recommended to the IASB for potential improvement. Following its assessment, the IASB has proposed a number of targeted amendments, including a one-year deferral of the IFRS 17 effective date to 1 January 2022.
Francesco Nagari, Deloitte's Global IFRS Insurance Leader and Sue Lloyd, Vice Chair of the IASB, discussed the Exposure Draft, 'Amendments to IFRS 17' in our webcast on 8 July. Watch the webcast for a summary of the key highlights and outcomes.
Deloitte Global IFRS Insurance Webcast - 9 January 2019
IFRS Insurance Webcast Thursday, 23 May
Published on 29 May 2019 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
The IASB discussed on 15 May four sweep issues to consider before finalising the Exposure Draft of proposed amendments to IFRS 17 Insurance contracts:
- Investment return service
- Amendment to clarify that an entity need not separately disclose refunds of premiums
- Amendment to clarify that changes resulting from cash flows of amounts lent to policyholders and waivers of amounts lent to policyholders are excluded from insurance revenue
- Mutual entities issuing insurance contracts
The IASB approved a comment period of 90 days for the Exposure Draft of proposed amendments to IFRS 17.
Finally, the IASB provided an update on the discussions of the Transition Resource Group (TRG) for IFRS 17 Insurance Contracts meeting, held on 4 April 2019.
Francesco Nagari summarized the outcomes of the Board meeting in our webcast on 23 May. Watch the webcast for Francesco's summary of the key highlights and outcomes
Deloitte IFRS Insurance Webcast - 23 May
A Summary of April’s IASB Meeting - Thursday, 25 April
Published on 3 May 2019 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
The IASB discussed on 9 April the overview of the amendments to IFRS 17 that the Board tentatively decided since November 2018.
The IASB addressed also the due process steps and approved the balloting of an Exposure Draft to amend IFRS 17. The Board discussed and approved several sweep issues, addressing additional stakeholders concerns which have arisen in the project on the amendments to IFRS 17.
The IASB finally discussed Annual Improvements related to IFRS 17 and the feedback from the TRG meeting held on 4 April 2019.
Francesco Nagari summarized the outcomes of the Board meeting in our webcast on 25 April. Watch the webcast for Francesco's summary of the key highlights and outcomes.
Download the presentation from 25 April IFRS webcast
Deloitte Global IFRS Insurance Webcas. -Thursday, April 25, 2019 9.05.17 PM
A Summary of March's IASB Meeting – Thursday, 21 March
Published on March 27, 2019 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu
The IASB met on 14 March to discuss the remaining issues and implementation challenges from the 25 that were identified in October 2018 as candidates for potential amendments. The IASB focused on level of aggregation:
- Stakeholder concerns;
- Implementation challenges and staff analysis;
- IFRS 17 requirements and IASB’s rationale; and
- History of the IASB’s decisions and stakeholder feedback.
The IASB also discussed additional amendments to IFRS 17 on Credit cards that provide insurance coverage. The IASB further discussed transition requirements related to the risk mitigation option and loans that transfer significant insurance risk. These are issues that were discussed during the IASB’s meeting in February.
Finally, the IASB addressed amendments to disclosure requirements resulting from the Board’s tentative decisions to date and Implications for disclosure and transition requirements.
Francesco Nagari summarized the outcomes of the Board meeting in our webcast on 21 March. Watch the webcast for Francesco's summary of the key highlights and outcomes.
Download the presentation from the 21 March IFRS webcast
IFRS Webcast
A summary of February’s IASB Meeting – Thursday, 21 February
The IASB met on Thursday, 7 February to discuss a further four of the 25 concerns and implementation challenges surrounding IFRS 17, originally identified during its meeting in October 2018:
- Loans that transfer significant insurance risk;
- Transition: Optionality and comparative information;
- Transition: Risk mitigation option and amounts accumulated in other comprehensive income on transition; and
- Transition: Modified retrospective approach.
Francesco Nagari summarized the outcomes of the Board meeting in our webcast on 21 February. The Board tentatively agreed to amend IFRS 17 on the concern arising from the accounting under IFRS 17 of loans that also transfer significant insurance risk. The Board also introduced one additional simplification for the modified retrospective approach. All of the other concerns resulted in no amendments to IFRS 17.
Download the presentation from the 21 February IFRS webcast.
Deloitte IFRS Insurance Webcast, 21 February
A summary of January’s IASB Meeting - 31 January 2019
During its meeting on Wednesday, 23 January, the IASB considered the below four issues surrounding the requirements in IFRS 17. The IASB staff recommended to amend IFRS 17 in all cases and the Board has tentatively agreed.
- Insurance acquisition cash flows for renewals outside the contract boundary;
- Reinsurance contracts held: initial recognition when underlying insurance contracts are onerous;
- Reinsurance contracts held: eligibility as hedging instruments for risks arising from contracts under the variable fee approach; and
- Contractual service margin: coverage units in the general model.
Watch the webcast for Francesco’s summary of the key highlights and outcomes.
Download the presentation from the 31 January IFRS webcast.
Watch the 31 January IFRS Insurance webcast.
Deloitte IFRS Insurance Webcast (EMEA) - 31 January 19
A summary of December's IASB Meeting - 9 January 2019
At its meeting on 14 November, the International Accounting Standards Board (IASB) tentatively agreed to defer the effective date of IFRS 17 by one year to 1 January 2022. The Board resumed its discussions at its monthly meeting from 11 to 13 December, when 13 of the 25 concerns and implementation challenges identified during October's meeting were addressed.
On Wednesday, 9 January, Francesco Nagari, Deloitte's Global IFRS Insurance Leader and a member of the IFRS 17 TRG, summarized the Board's discussion and decisions regarding the IASB Staff's recommendations on amendments to IFRS 17.
Deloitte IFRS Insurance Webcast – 9 Jan 2019 View or download the presentation
Deloitte Global IFRS Insurance Webcast - 9 January 2019
A summary of October's IASB Meeting - 1 November 2018
Since IFRS 17 was issued in May 2017, the International Accounting Standards Board (IASB) has been monitoring its implementation. It has been made aware of 25 concerns and implementation challenges. Among them are the issues identified in the letter sent by the European Financial Reporting Advisory Group (EFRAG) in early September. The IASB previously indicated that it would consider whether additional action is needed to address the matters arising from the implementation of IFRS 17.
The IASB's discussions at its meeting on Wednesday, 24 October was a first step in this assessment process. Francesco Nagari summarized the outcomes of the meeting in our webcast on 1 November.
Deloitte IFRS Insurance Webcast – 1 Nov 2018 View or download the presentation
Deloitte IFRS Insurance Webcast (For AP) November 1, 2018
A summary of September’s IFRS 17 TRG meeting – 2 October 2018
uring our webcast on 2 October, Francesco Nagari summarized the outcomes of the IFRS 17 TRG's third meeting, held in London on 26 and 27 September, during which the Group discussed the following agenda items:
- Insurance risk consequent to an incurred claim;
- Determining discount rates using a top-down approach;
- Commissions and reinstatement premiums in reinsurance contracts issued;
- Premium experience adjustments related to current or past service;
- Cash flows outside the contract boundary at initial recognition;
- Recovery of acquisition cash flows;
- Premium waivers;
- Group insurance policies;
- Industry pools managed by an association;
- Annual cohorts for contracts that share in the return of a specified pool of underlying items;and
- Report on other submissions not tabled for individual discussion.
2 October 2018 Webcast slides View or download the presentation
Deloitte IFRS Insurance Webcast 2 October 2018
A summary of May's IFRS 17 TRG Meeting - 9 May 2018
On 2 May, the members of the IFRS 17 Transition Resource Group (TRG) met for the second time to discuss key IFRS 17 implementation issues. Our webcast, held on Wednesday, 9 May, summarized the outcomes of the TRG's discussions on six key papers relating to:
- Determining quantity of benefits for identifying coverage units to account for the release of CSM in profit or loss;
- Risk adjustment in a group of entities and group risk diversification benefits;
- Combination of insurance contracts;
- Cash flows within the contract boundary arising from options to add coverage and when competition limits the practical ability of insurers to reprice fully contracts' risks;
- Boundary of reinsurance contracts held with repricing mechanisms controlled by the reinsurer;
- Implementation challenges outreach report.
The IASB Staff also reported on other implementation questions submitted but not tabled for detailed TRG discussion.
View or download the presentation 9 May 2018 Webcast slides
Deloitte IFRS Insurance Webcast - Wednesday, May 9, 2018
IFRS 17 Transition Resource Group Meeting highlights – 14 February 2018
On 21 September 2017, the International Accounting Standards Board appointed the members of the IFRS 17 Transition Resource Group (TRG). Our latest webcast looked at the outcomes of the TRG's first meeting that took place on 6 February 2018, and discussed seven key papers relating to:
- The separation of insurance components of a single contract;
- The contract boundary of contracts with annual repricing mechanisms;
- The contract boundary of reinsurance contracts held;
- Insurance acquisition cash flows paid on an initially written contract;
- Determining the quantity of benefits for identifying coverage units;
- Insurance acquisition cash flows when using fair value transition; and
- Issues that while they were raised by stakeholders' submissions, could be resolved by IASB Staff without a full paper for discussion at the TRG meeting.
Read more about the TRG's meeting in 'IFRS in Focus' on IAS Plus.
Deloitte IFRS Insurance Webcast – 14 Feb 2018 View or download the presentation
