International GAAP 2021

Chapter 55Insurance contracts (IFRS 4)

• 1 INTRODUCTION
  • 1.1 The history of the IASB's insurance project
  • 1.2 The development of IFRS 4
  • 1.3 Mitigating the impact on insurers of applying IFRS 9 before applying IFRS 17
  • 1.4 Existing accounting practices for insurance contracts
    • 1.4.1 Non-life insurance
    • 1.4.2 Life insurance
    • 1.4.3 Embedded value
• 2 THE OBJECTIVES AND SCOPE OF IFRS 4
  • 2.1 The objectives of IFRS 4
  • 2.2 The scope of IFRS 4
    • 2.2.1 Definitions
    • 2.2.2 Transactions within the scope of IFRS 4
    • 2.2.3 Transactions not within the scope of IFRS 4
      • 2.2.3.A Product warranties
      • 2.2.3.B Assets and liabilities arising from employment benefit plans
      • 2.2.3.C Contingent rights and obligations related to non-financial items
      • 2.2.3.D Financial guarantee contracts
      • 2.2.3.E Contingent consideration payable or receivable in a business combination
      • 2.2.3.F Direct insurance contracts in which the entity is the policyholder
    • 2.2.4 The product classification process
• 3 THE DEFINITION OF AN INSURANCE CONTRACT
  • 3.1 The definition
  • 3.2 Significant insurance risk
    • 3.2.1 The meaning of ‘significant’
    • 3.2.2 The level at which significant insurance risk is assessed
      • 3.2.2.A Self insurance
      • 3.2.2.B Insurance mutuals
      • 3.2.2.C Intragroup insurance contracts
    • 3.2.3 Significant additional benefits
  • 3.3 Changes in the level of insurance risk
  • 3.4 Uncertain future events
  • 3.5 Payments in kind
    • 3.5.1 Service contracts
  • 3.6 The distinction between insurance risk and financial risk
  • 3.7 Adverse effect on the policyholder ...