IFRS 17 Insurance contracts Contents

The IASB issued IFRS 17, a comprehensive new accounting standard for insurance contracts in May 2017. IFRS 17 will become effective for annual reporting periods beginning on or after 1 January 2021, with early application permitted.

The IFRS 17 model combines a current balance sheet measurement of insurance contracts with recognition of profit over the period that services are provided.

Introduction 
Insurance contracts 
Service or insurance contract?
SEPARATION AND COMBINATIONIFRS 17 Insurance contracts Contents

Combination of insurance contracts 
Separation from an insurance contract 
Separation of insurance contracts 
Separation of insurances into components 
Voluntary separation of non-insurance components

RECOGNITION

Timing of initial recognition of insurance contracts

MEASUREMENTIFRS 17 Insurance contracts Contents IFRS 17 Insurance contracts Contents

Measurement of insurance contracts
Insurances classification and measurement
Current estimates
Reasonable and supportable information available
Portfolio of insurance contracts
Replicating portfolios
Insurance modelling 


General model IFRS 17 Insurance contracts
Estimates of future cash flows
Practical ability
Contract boundary
Cash flows within contract boundary
Market and non-market variables cash flow estimationIFRS 17 Insurance contracts Contents
Contractual service margin
Discount rates and observable market prices
Discount rates and characteristics of cash flows
Insurance contract discount rates
Risk adjustment for non-financial risks
Insurances risk adjustment for non-financial risks
Insurance contract liabilities 


Key differences between GM and VFA Insurance
Accounting policies for financial instruments
Onerous contracts 


Premium allocation approach
Eligibility for the premium allocation approach
Measurement of remaining coverage 


Acquisition of insurance contracts
Reinsurance contracts held
Measurement of contracts with participation features
Market consistent measurement of options and guarantees

MODIFICATION AND DERECOGNITION

Contract modification and derecognition

PRESENTATION FINANCIAL POSITION

Main FS statements Insurance contracts
Presentation insurance contracts

RECOGNITION AND PRESENTATION PERFORMANCE

Main FS statements Insurance contracts
Presentation insurance contracts

DISCLOSURE

Explanation of recognised amounts
Disclosure recognised insurance amounts
Fair value disclosures
Disclosure about insurance risks
Disclosure for insurance contracts 

Disclosure of significant judgments for insurances
Nature and extend of risks arising from insurance contracts

Sensitivity analysis to market risk
Management of credit risk for financial instruments

TRANSITIONSIFRS 17 Insurance contracts Contents

Practical implications of IFRS 17 transition choices
Disclosure on transition IFRS 17
Comparative information in transition to IFRS 17
Transition to IFRS 17 Insurance contracts

IFRS 17 Insurance contracts Contents

IFRS 17 Insurance contracts Contents

IFRS 17 Insurance contracts Contents IFRS 17 Insurance contracts Contents IFRS 17 Insurance contra

IFRS 17 Insurance contracts Contents IFRS 17 Insurance contracts Contents IFRS 17 Insurance contracts

IFRS 17 Insurance contracts Contents IFRS 17 Insurance contracts Contents IFRS 17 Insurance contracts

IFRS 17 Insurance contracts Contents IFRS 17 Insurance contracts Contents IFRS 17 Insurance contracts

IFRS 17 Insurance contracts Contents IFRS 17 Insurance contracts Contents IFRS 17 Insurance contracts

IFRS 17 Insurance contracts Contents IFRS 17 Insurance contracts Contents IFRS 17 Insurance contracts

IFRS 17 Insurance contracts Contents IFRS 17 Insurance contracts Contents IFRS 17 Insurance contractscts Contents