EIOPA · 2792
Reporting Templates
- Regulation
- (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
- Article
- Annex II
- Topic
- Reporting Templates
- Submitted
- 2023-09-18
- Answered
- 2023-12-07
Question
According to Annex II Claims management expenses should include the movement in provisions in claims management expenses. IFRS17 does not recognize a provisions in claims management expenses on its own. Should in this case only the paid expenses be reported without any movement in provisions?
Background
IFRS17 impacts the base for reporting QRT S05.01. Not all S05.01 items are recognized within IFRS17 P&L. Therefor clarification is needed.
Answer
Under IFRS 17 undertakings are expected to still be able to report claims management expenses on incurred basis. The amount reported should be equal to claims management expenses paid plus the movement in the liability for incurred claims related to claims management expenses.
This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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