IASB Implementation information - read more

29 An entity shall apply paragraphs 30-52 to all groups of insurance contracts within the scope of IFRS 17, with the following exceptions:

(a) for groups of insurance contracts meeting either of the criteria specified in paragraph 53, an entity may simplify the measurement of the group using the premium allocation approach in paragraphs 55-59.

(b) for groups of reinsurance contracts held, an entity shall apply paragraphs 32-46 as required by paragraphs 63-70A. Paragraph 45 (on insurance contracts with direct participation features) and paragraphs 47-52 (on onerous contracts) do not apply to groups of reinsurance contracts held.