IFRS 17Chapter 8Lesson 1
Insurance revenue, insurance service expenses and finance result
Step 1 of 7Learning objectives
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The insurer’s result is read on two levels: the insurance service result (revenue from services provided less expenses) and the insurance finance result (time value and financial risk).
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Learning objectives
- Explain that insurance revenue represents the consideration for services provided in the period.
- Calculate the insurance revenue of a period from its components.
- List the components of insurance service expenses and calculate the insurance service result.
- Explain that insurance finance income or expenses combine the effects of the time value and of financial risk on the liability.