Staff-T1
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Yeah it's not on the syllabus anymore
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It is basically the MCT for branch companies. Nothing else you need to know for the exam
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Yup it is no longer relevant since we are in 2022 already @graham
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No it is not
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@graham think there is an error here
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Adipelino is right for the first statement. An example of "unless claims in settlement are included in LRC rather than LIC" is an adverse development cover where the definition of an insured event is the determination of the ultimate loss amount. In…
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Have you tried taking a look at the sample excel calculation?
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Thoughts @graham ?
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It only says in the source that the basis of determination of the participation ratio varies by jurisdiction. Thoughts @graham
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Yup you can think that
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Thoughts @graham ?
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Normally when there are changes to the underlying LC, you will adjust the the FCF and Loss RC. CSM is derived from taking the difference. CSM = ARC - FCF - Loss RC and so it doesn't directly affect the CSM. I wouldn't worry too much about Loss RC si…
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Same for me @graham thoughts?
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It applies to both. The difference between OCI and non-OCI is explained further down in the paper in Approach #3
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@exampasser yes and you could also saying using your own asset portfolio yield rate without adjustments is no longer allowed
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Claims that are covered and which you expect to recover from a reinsurer
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Can you provide a bit more context/ screenshot of where/what in the wiki you are referring to?
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Nope discounting is different under IFRS17 as there is no longer an explicit interest rate PfAD
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For RoR you do not include realized gains. Net investment income includes realized gains therefore you subtract it out. If you are referring to the inconsistency with 2016.Spring Q23a.ii, I would follow what is in the MSA paper which I alluded to in…
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I don't think the APV contains the LRC(Premium Liabilities) @graham . What do you think?
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Okay I see what you mean. Yes, in the example from the CIA we subtracted credit risk only which is a simplified approach. You would also technically need to subtract market, timing and currency risk also. In the wiki example, the ILP would also cont…
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As I mentioned a few times the CAS is inconsistent in their definition everywhere. It is inflows - outflows on Page 22 of the LRC paper which is what the wiki is referring to
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* I believe it's line 310 * If you see the P&C it is either finance income (if positive) or finance expenses (if negative)
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No because of statement 1). It will affect the Loss RC.
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Nope. MfADs under IFRS4 are the Risk adjustment @graham
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In the Appendix it is just saying ILP = Portfolio Ref Rate - Credit Risk - Rf In the wiki it is just saying ILP = Portfolio Rate - Adjustments to match risk profile of insurance contracts. Adjustments to match risk profile of insurance contracts =…
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Actually this question is still relevant. I don't think so for your question. Capital A is referring to common shares issued by the insurer. This seems like the purchase of common shares purchased in the market
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Which question are you referring to in the PE? The IFRS 17 components which are analogous to the IFRS4 components are as follows: LIC = APV LRC = Premium Liability
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@lawtsm Yes they aren't calculated the same way for onerous and non-onerous contracts. When onerous the PAA LRC = GMA LRC = PAA LRC excl.LC + LC. @adipelino is also right. PAA LRC excl.LC = PAA LRC if and only if the contract is non-onerous
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It is margin insurance, so any shortfall from your actual yield would be compensated. Basically your the payout is max(0, E[yield] - Actual Yield).