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.
US Insurance Practice Leader, PwC US
Richard de Haan
Global Actuarial Leader, PwC US
Managing Director, National Professional Service Group, PwC US