Document ID: chunk:federal_register_of_legislation:F2023C00382:front:0:p27
Version: federal_register_of_legislation:F2023C00382
Segment Type: other
Provision Reference: 
Character Range: 68735–71692

disclose additional information necessary to meet that objective.
95 An entity shall aggregate or disaggregate information so that useful information is not obscured either by the inclusion of a large amount of insignificant detail or by the aggregation of items that have different characteristics.
96 Paragraphs 29–31 of AASB 101 set out requirements relating to materiality and aggregation of information. Examples of aggregation bases that might be appropriate for information disclosed about insurance contracts are:
(a) type of contract (for example, major product lines);
(b) geographical area (for example, country or region); or
(c) reportable segment, as defined in AASB 8 Operating Segments.

Explanation of recognised amounts
97 Of the disclosures required by paragraphs 98–109A, only those in paragraphs 98–100, 102–103, 105–105B and 109A apply to contracts to which the premium allocation approach has been applied. If an entity uses the premium allocation approach, it shall also disclose:
(a) which of the criteria in paragraphs 53 and 69 it has satisfied;
(b) whether it makes an adjustment for the time value of money and the effect of financial risk applying paragraphs 56, 57(b) and 59(b); and
(c) the method it has chosen to recognise insurance acquisition cash flows applying paragraph 59(a).
98 An entity shall disclose reconciliations that show how the net carrying amounts of contracts within the scope of AASB 17 changed during the period because of cash flows and income and expenses recognised in the statement(s) of financial performance. Separate reconciliations shall be disclosed for insurance contracts issued and reinsurance contracts held. An entity shall adapt the requirements of paragraphs 100–109 to reflect the features of reinsurance contracts held that differ from insurance contracts issued; for example, the generation of expenses or reduction in expenses rather than revenue.
99 An entity shall provide enough information in the reconciliations to enable users of financial statements to identify changes from cash flows and amounts that are recognised in the statement(s) of financial performance. To comply with this requirement, an entity shall:
(a) disclose, in a table, the reconciliations set out in paragraphs 100–105B; and
(b) for each reconciliation, present the net carrying amounts at the beginning and at the end of the period, disaggregated into a total for portfolios of contracts that are assets and a total for portfolios of contracts that are liabilities, that equal the amounts presented in the statement of financial position applying paragraph 78.
100 An entity shall disclose reconciliations from the opening to the closing 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