EIOPA · 2812
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
Interest accretion to technical provisions related to Fair value through other comprehensive income is directly accountant for in the IFRS balans sheet and is not recognize in IFRS P&L. Is this part of the Interest accretion then to be excluded from Claims incurred?
Background
For IFRS17 Interest accretion is classified as part of the Claims incurred. The IFRS17 Profit and loss account does not hold the complete amount of Interest accretion. The part related to Fair value through other comprehensive income is not included in the Profit and loss account but directly accounted for in the balance sheet.
Answer
No, the LOG requires all changes to the liability of claims incurred to be considered to report claims in S.05.01. This includes also the changes through Other Comprehensive Income (OCI) as the LOG does not recognise any exceptions.
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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