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Version date: 25 June 2020 - onwards
Version 2 of 2

Appendix A Defined terms

IASB Implementation information - read more

This appendix is an integral part of IFRS 17 Insurance Contracts.

"contractual service margin"

A component of the carrying amount of the asset or liability for a group of insurance contracts representing the unearned profit the entity will recognise as it provides insurance contract services under the insurance contracts in the group.

"coverage period"

The period during which the entity provides insurance contract services. This period includes the insurance contract services that relate to all premiums within the boundary of the insurance contract.

"experience adjustment"