IFRS 17 Insurance Contract vs. Reinsurance Contract

thesuperactuarythesuperactuary
in CIA.IFRS17-1

I am trying to connect dots together.

Under IFRS 17, what is the difference between reinsurance contract vs. insurance contract?

So far i can only find "CSM" - where there is no unearned profit under reinsurance contract (only net loss/earn from purchasing reinsurance) What esle can we say? Thank you

Comments

  • Staff-T1Staff-T1

    There's a lot to say so I am not sure I can list out everything. Examples:

    • There is no possibility of a reinsurance contract being onerous
    • A reinsurance contract may not be PAA eligible despite the underlying contracts qualifying for PAA
    • Reinsurance contract revenue is generally recognized differently vs direct insurance contracts due to seasonality
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