IFRS 17 — Insurance Contracts
Modules of the standard
- Concepts48 publishedNormative and pedagogical mapping.
- Questions78 publishedTrue/false, quizzes, calculations, entries, mini-cases, judgment.
- Practical cases5 publishedProgressive cases, from beginner to expert.
- Workpapers5 publishedWorking papers with calculations and entries.
- Professional file1 publishedSimulation of a full engagement.
- Exams2 publishedSealed, versioned final exams.
- Explanations (lessons)16 publishedLesson explanations, chapter by chapter.
Practical cases
- Insurance contract or not: definition, significant risk, exclusions, scope choice and separation of componentsL1Beginner
- Portfolios, profitability groups, annual cohorts, recognition and contract boundary, and the loss of an onerous groupL2Intermediate
- Initial measurement of a group: fulfilment cash flows, risk adjustment, contractual service margin and onerous groupL3Advanced
- Subsequent measurement: margin roll-forward, coverage units, loss component, insurance service result and finance expenseL3Advanced
- Premium allocation approach, variable fee approach, reinsurance held, modification, transition and disclosuresL4Expert
- File on a group of insurance contracts: aggregation, initial measurement, contractual service margin, simplified approach and presentation (IFRS 17)L4Expert
Workpapers
- Portfolios, profitability groups and annual cohorts: grouping of contracts and loss of an onerous group at initial recognition
- Initial measurement of a group: present values of the flows, fulfilment cash flows, contractual service margin or loss, and recognition entry
- Contractual service margin roll-forward: interest at the locked-in rate, changes relating to future service, release by coverage units and loss component
- Eligibility for the premium allocation approach or the variable fee approach, liability for remaining coverage, revenue of the period and entries
- Insurance service result, insurance finance expense, choice of disaggregation into other comprehensive income and checklist for the reconciliation of the liability
Concepts by topic
Mapping texts (concept labels, objectives, paragraph summaries) are available in French only for now.
Scope and insurance risk
- Contracts within the scope of IFRS 17Important2 questions
- Contracts excluded from the scopeImportant2 questions
- Optional scope choicesAdvanced1 question
- Insurance riskCore3 questions
- Significant insurance riskImportant2 questions
- Combining contracts and separating componentsAdvanced1 question
Portfolios, groups, recognition and contract boundary
- Portfolios of contractsImportant2 questions
- Groups by profitabilityCore3 questions
- Annual cohortsCore3 questions
- The EU cohort exemptionSpecialised1 question
- The recognition date of a groupImportant2 questions
- The contract boundaryAdvanced1 question
The general model: initial measurement
- Fulfilment cash flowsCore3 questions
- Future cash flows to includeAdvanced1 question
- Discounting the cash flowsImportant2 questions
- The risk adjustment for non-financial riskImportant2 questions
- The contractual service margin at inceptionCore3 questions
- Onerous groups at inceptionCore3 questions
- Insurance acquisition cash flowsAdvanced1 question
Subsequent measurement and the contractual service margin
- Liability for remaining coverage and for incurred claimsImportant2 questions
- The reconciliation of the marginCore3 questions
- Adjustments to the marginAdvanced1 question
- Coverage units and the release of the marginCore3 questions
- Onerous groups after inceptionAdvanced1 question
The premium allocation approach
- Eligibility for the simplified approachCore3 questions
- Measurement under the premium allocation approachImportant2 questions
- Acquisition costs in the simplified approachAdvanced1 question
The variable fee approach
- Contracts with direct participation featuresImportant2 questions
- The margin in the variable fee approachSpecialised1 question
Reinsurance contracts held
- The general model for reinsurance heldAdvanced1 question
- Loss-recovery on reinsuranceSpecialised1 question
Presentation and disclosure
- Insurance revenueCore3 questions
- Insurance service expensesAdvanced1 question
- Insurance finance income and expensesAdvanced1 question
- Disaggregation between profit or loss and OCIImportant2 questions
- DisclosuresAdvanced1 question
Modification and derecognition
- Modification and derecognition of a contractAdvanced1 question
Transition to IFRS 17
- Full retrospective applicationAdvanced1 question
- Impracticability and the choice of approachAdvanced1 question
- The modified retrospective approachAdvanced1 question
- The fair value approachAdvanced1 question
- The 2020 amendmentsSpecialised1 question
- Comparatives and the classification overlaySpecialised1 question
Links with other standards and decisions
- Links with IFRS 9Advanced1 question
- Links with IFRS 15Advanced1 question
- Links with IAS 37Advanced1 question
- The IFRS 13 contextAdvanced1 question
- The Transition Resource GroupSpecialisedNo question