Discounting of LIC

oxalisoxalis
in CIA.IFRS17

Hi,

Discounting of LIC:
IFRS 17: ignore discounting and financial risk for LIC if: (are the 2 conditions below have to be both satisfied to ignore discounting or it's a either or condition please)
- PAA is used for LRC
- LIC cash flows are received ≤ 1 year within incurred date of claims
current: requires discounting

Thanks

Comments

  • Staff-T1Staff-T1

    Both conditions have to be satisfied in order to not discount your LIC - Practically nobody does this in practice though

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