IFRS 17 Insurance Contracts

Roles that need it

• Actuarial Analyst
• Life & Pensions Actuarial Analyst
• General Accountant
• External Audit (Financial Services)
• Accounting Advisory Associate

Skills it belongs to

• Insurance accounting (IFRS 17, technical provisions)
• International accounting standards (IFRS)
• Insurance pricing, reserving and product economics

Related concepts

• Contractual service margin (CSM)The contractual service margin is the unearned profit of a group of insurance contracts under IFRS 17. It is set at inception so that no gain is recognised up front, and it is released to profit as insurance services are provided. Onerous contracts show a loss immediately instead.
• Technical provisionsTechnical provisions are the value of an insurer's obligations to policyholders under Solvency II, equal to a best estimate of discounted future cash flows plus a risk margin. They correspond to the amount another insurer would require to take over the obligations.
• Solvency IISolvency II is the EU prudential regime for insurers and reinsurers, applied since 1 January 2016. It has three pillars: market-consistent valuation and risk-based capital (SCR and MCR), governance including the ORSA, and supervisory reporting and public disclosure.

Sources

• IFRS 17 Insurance Contracts, IFRS Foundation (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.