IFRS 17: the sticking point of annual cohorts

Pierre-Emmanuel Thérond and Victor Froment
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Victor Froment: SeaBird

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Abstract: On September 30, EFRAG published its Draft Endorsement Advice on IFRS 17 Insurance contracts. Comments are requested by 29 january 2021. It concluded on a consensus basis that IFRS 17 meets the various criteria for endorsement, with the notable exception of the requirement to apply annual cohorts to intergenerationally-mutualised and cash-flow matched contracts. In this paper, we focus on this particular issue and show how annual cohorts fail to give a pertinent picture of participating life insurance business, as practiced in many continental European countries.

Keywords: IFRS17; insurance; financial reporting; accounting (search for similar items in EconPapers)
Date: 2020-11
New Economics Papers: this item is included in nep-ias
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Published in The European Actuary, 2020, 24, pp.11-14

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02989360

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