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IFRS 17: the sticking point of annual cohorts

Author

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  • Pierre-Emmanuel Thérond

    (SAF - Laboratoire de Sciences Actuarielle et Financière - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon, SeaBird)

  • Victor Froment

    (SeaBird)

Abstract

On September 30, EFRAG published its Draft Endorsement Advice on IFRS 17 Insurance contracts. Comments are requested by 29 january 2021. It concluded on a consensus basis that IFRS 17 meets the various criteria for endorsement, with the notable exception of the requirement to apply annual cohorts to intergenerationally-mutualised and cash-flow matched contracts. In this paper, we focus on this particular issue and show how annual cohorts fail to give a pertinent picture of participating life insurance business, as practiced in many continental European countries.

Suggested Citation

  • Pierre-Emmanuel Thérond & Victor Froment, 2020. "IFRS 17: the sticking point of annual cohorts," Post-Print hal-02989360, HAL.
    • Handle: RePEc:hal:journl:hal-02989360
    Note: View the original document on HAL open archive server: https://hal.science/hal-02989360
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    Keywords

    IFRS17; insurance; financial reporting; accounting;
    All these keywords.

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