Cash Flows for LIC calculation

LetMePassLetMePass
in CAS Sample IFRS 17 Questions

Just want to confirm, for LIC Cash Flow projections, we are to use the paid amounts at various times.

In Sample Q04 and Q05, these cashflows are referred to as "the unpaid claims"... which is a bit confusing to me.

For a single AY, this is:
Paid amount at time t = Ultimate Claims x Incremental Payment Pattern.

For all previous accident years:
Paid amount at time t = (sum of ultimate claims for all AYs - sum of paid claims for all AYs) x Incremental Payment Pattern

Thanks

Comments

  • Staff-T1Staff-T1

    Yes - They are always referred to as unpaid claims. Far as I'm aware they are not called anything else

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