Proposal for the Measurement of Reinsurance Contracts under IFRS 17
Proposal for the Measurement of Reinsurance Contracts under IFRS 17
Author(s): Silvia Zelinová, Miriama Blahušiaková, Tatiana ŠoltésováSubject(s): Economic policy, International relations/trade, Financial Markets, Accounting - Business Administration
Published by: Ekonomický ústav SAV a Prognostický ústav SAV
Keywords: International Financial Reporting Standard 17; reinsurance contracts; general model measurement; contractual service margin; risk adjustment;
Summary/Abstract: The paper introduces the proposal of the measurement model for insurance and reinsurance contracts in accordance with the new standard IFRS 17 Insurance contracts that will be effective as of January 1, 2023. The Standard does not contain formulas, but it is principle-based, which is why the selected method of general model measurement is a scientific benefit for the measurement of the insurance product. The application of the GMM method is not the same as that of the insurance company and the reinsurance company perspective, despite the same chosen actuarial assumptions. The scope of changes, which the new Standard offers, is comprehensive and brings new challenges, even for scientific purposes.
Journal: Ekonomický časopis
- Issue Year: 70/2022
- Issue No: 03
- Page Range: 284-304
- Page Count: 21
- Language: English