On 23 January 2019 the IASB continued its discussions on IFRS 17/ It tentatively agreed to propose amendments to IFRS 17 to:
- Require allocation of insurance acquisition cash flows to anticipated future renewals;
- Require recognition of a gain in profit or loss when an insurer recognises losses on onerous underlying insurance contracts at initial recognition, to the extent that a reinsurance contract held covers the losses of each contract on a proportionate basis;
- Expand the scope for the risk mitigation exemption for insurance contracts with direct participation features to reinsurance contracts held that are used to mitigate financial risk. However, the Board will not expand the scope of the variable fee approach to reinsurance contracts issued or held;
- Require consideration of the existence of an investment return service in allocating the CSM using coverage units.