Document ID: chunk:federal_register_of_legislation:F2023C00382:front:0:p28
Version: federal_register_of_legislation:F2023C00382
Segment Type: other
Provision Reference: 
Character Range: 71425–74411

balances separately for each of:
(a) the net liabilities (or assets) for the remaining coverage component, excluding any loss component.
(b) any loss component (see paragraphs 47–52 and 57–58).
(c) the liabilities for incurred claims. For insurance contracts to which the premium allocation approach described in paragraphs 53–59 or 69–70A has been applied, an entity shall disclose separate reconciliations for:
(i) the estimates of the present value of the future cash flows; and
(ii) the risk adjustment for non-financial risk.
101 For insurance contracts other than those to which the premium allocation approach described in paragraphs 53–59 or 69–70A has been applied, an entity shall also disclose reconciliations from the opening to the closing balances separately for each of:
(a) the estimates of the present value of the future cash flows;
(b) the risk adjustment for non-financial risk; and
(c) the contractual service margin.
102 The objective of the reconciliations in paragraphs 100–101 is to provide different types of information about the insurance service result.
103 An entity shall separately disclose in the reconciliations required in paragraph 100 each of the following amounts related to services, if applicable:
(a) insurance revenue.
(b) insurance service expenses, showing separately:
(i) incurred claims (excluding investment components) and other incurred insurance service expenses;
(ii) amortisation of insurance acquisition cash flows;
(iii) changes that relate to past service, ie changes in fulfilment cash flows relating to the liability for incurred claims; and
(iv) changes that relate to future service, ie losses on onerous groups of contracts and reversals of such losses.
(c) investment components excluded from insurance revenue and insurance service expenses (combined with refunds of premiums unless refunds of premiums are presented as part of the cash flows in the period described in paragraph 105(a)(i)).
104 An entity shall separately disclose in the reconciliations required in paragraph 101 each of the following amounts related to services, if applicable:
(a) changes that relate to future service, applying paragraphs B96–B118, showing separately:
(i) changes in estimates that adjust the contractual service margin;
(ii) changes in estimates that do not adjust the contractual service margin, ie losses on groups of onerous contracts and reversals of such losses; and
(iii) the effects of contracts initially recognised in the period.
(b) changes that relate to current service, ie:
(i) the amount of the contractual service margin recognised in profit or loss to reflect the transfer of services;
(ii) the change in the risk adjustment for non-financial risk that does not relate to future service or past service; and
(iii) experience adjustments (see paragraphs B97(c) and B113(a)), excluding amounts relating to the risk adjustment for non-financial risk included in (ii).
(c) changes that relate to past service, ie changes in