CSM for insurance vs reinsurance contracts

yifanwangyifanwang
in CIA.IFRS17-1

Am I understanding CSM correctly?

For insurance contracts, CSM represents unearned profit, and thus is capped at 0 (occurs when onerous).
For reinsurance contracts, CSM represents net gain (positive CSM)/net loss (negative CSM). There is no cap as the concept of onerousness does not apply to reinsurance.

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