In this paper, our experts discuss some of the issues related to the liability for remaining coverage (LRC) and liabilities for incurred claims (LIC), measurement under IFRS 17 for P&C insurers, topics include:
- An overview of the measurement models under IFRS 17
- Further analysis of the LIC, including the roll-forward and the granularity of calculation required
- LRC calculations under the Premium Allocation Approach (PAA), including subsequent measurement and the underlying issues
- The challenge in the treatment of premium experience compared to expected (known as the premium variance)
- Acquisition expenses and the implications from the change in the recent amendment
Read "Unpacking LRC and LIC Calculations for P&C Insurers" to learn more.
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