LIC/LRC
When we consider LIC/LRC, are these amounts net of reinsurance?
Since LIC is equivalent is to net unpaid claim and adjustment expenses, I guess it's net of reinsurance?
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When we consider LIC/LRC, are these amounts net of reinsurance?
Since LIC is equivalent is to net unpaid claim and adjustment expenses, I guess it's net of reinsurance?
Comments
I was pretty sure it's not net of reinsurance because one of the major requirements of IFRS 17 presentation is to report all insurance and reinsurance separately. I think it may be net of S&S though?
LIC and LRC are calculated on a gross basis. The reinsurance cash flows are calculated in your AIC and ARC. And yes, S&S is part of the FCFs