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IFRS 17: Reinsurance Contracts Held and Loss-recovery . . . The loss-recovery component determines the amounts that are presented in profit or loss as reversals of recoveries of losses from reinsurance contracts held and are consequently excluded from the allocation of premiums paid to the reinsurer {IFRS17 66B}
Accounting considerations for insurance recoveries Potential insurance recoveries in excess of recognized losses are evaluated as gain contingencies and are precluded from recognition until the gain is realized or realizable
Loss recovery: Uncovering the Secrets of Loss Recovery in . . . Loss recovery is an essential component of mitigating losses for reinsurers and insurers By having effective loss recovery strategies in place, these companies can recover their losses and minimize the impact on their financial positions
A Roadmap to Accounting for Contingencies and Loss Recoveries This edition of On the Radar provides an in-depth look at guidance for loss contingencies, gain contingencies, loss recoveries, and contingent liabilities as defined in ASC 450 and ASC 460, as well as examples of how these concepts might be applied in practice
Draft Educational Note: IFRS 17 – Actuarial Considerations . . . Section 5 provides guidance related to the LRC measured under the premium allocation approach (PAA) Section 6 summarizes key considerations for reinsurance contracts issued and held, including the calculation of the loss-recovery component when underlying contracts are onerous
IFRS 17 pocket guide on reinsurance contracts held Reinsurance contracts often provide coverage for many underlying contracts, and so the issuer (ie the reinsurer) may not be exposed to the possibility of a significant loss even if each individual underlying contract exposes the insurer to significant insurance risk