Transition Resource Group debates IFRS 17 implementation issues - September 2018

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In transition , PwC US Sep 28, 2018

IFRS 17 TRG held its third meeting and discussed 10 implementation issues including the top-down discount rate, commissions and more.

Overview

At its third meeting held on 26 and 27 September 2018, the TRG for IFRS 17 continued the discussion on implementation issues. The IASB has received 81 submissions, and 32 for the September meeting. At the meeting the TRG discussed ten detailed agenda papers including matters related to identification of the issuer of an insurance contract and policyholder, cash flows outside the contract boundary, identification of insurance risk, application of the top-down discount rate, insurance revenue and commissions, acquisition cash flows, annual cohorts and premium experience adjustments. The issues resulted in clarification but do not require further consideration, although the industry noted that some submissions will give rise to further implementation challenges.

To have a deeper discussion, contact:

Donald Doran

Partner, National Professional Services Group, PwC US

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Marie Kling

Partner, National Professional Service Group, PwC US

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Mary Saslow

Managing Director, National Professional Service Group, PwC US

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Matt Adams

Matt Adams

US Insurance Practice Leader, PwC US

David Schenck

David Schenck

US Insurance Tax Leader , PwC US

Richard de Haan

Richard de Haan

Global Actuarial Leader, PwC US

Mary Saslow

Mary Saslow

Managing Director, National Professional Service Group, PwC US

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