EIOPA · 2811
Reporting Templates
- Regulation
- (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
- Article
- N/A
- Topic
- Reporting Templates
- Submitted
- 2023-10-03
- Answered
- 2023-12-06
Question
Are payments for non-distinct investment components to be included in Claims incurred, since they are not included in the IFRS17 Profit and Loss account?
Background
IFRS17 requires the amount of a non-disctinct investment component to be exluded form insurance revenue an insurance service expenses. Therefor these receipts and payments are not included in the IFRS17 Profit and Loss account.
Answer
Yes, payments for investment components should be included in claims as the LOG does not recognise any exception based on whether they are recognised in profit and loss. It should be noted that reporting payments for investment components in claims ensures consistency with the amount of premiums reported.
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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