Keywords: Mazars, Thailand, IFRS, IFRS 17, TRG
23 April 2018
The following six topics were addressed in detail:
- separation of insurance components of a single insurance contract;
- boundary of contracts with annual repricing mechanisms;
- boundary of reinsurance contracts held;
- treatment of insurance acquisition cash flows paid (commissions) and future renewals;
- determining the quantity of benefits for identifying coverage units; and
- insurance acquisition cash flows when using fair value transition.
A working document was presented addressing 12 other submissions, classified in the following three categories:
- submissions that can be answered applying only the words in IFRS 17 (six questions),
- submissions that do not meet the submission criteria (four questions), and
- submissions that will be considered through a process other than a TRG discussion (two questions).
To fulfil the submission criteria, implementation questions:
- must be related to, or arise from, IFRS 17;
- may result in possible diversity in practice; and
- are expected to be pervasive, i.e. relevant to a wide group of stakeholders.
A summary of the TRG discussions can be consulted at the IFRS website.