CERTYNEX IFRS ACADEMY

Fénix SA acquires an insurer in a business combination. How does it measure, at the acquisition date, a group of contracts within IFRS 17 assumed in this combination?

At the fair value of its assets and liabilities, like the other items assumed under the general measurement principle of IFRS 3.

Under IFRS 17 at the acquisition date, whether a contract is an insurance contract being assessed on the conditions existing at that date.

Under IFRS 4, whose former exception to the classification rule remains applicable to acquired insurance contracts.

At the carrying amount that the group of contracts had at the acquired insurer, without remeasurement at the acquisition date or application of another standard.