Investor Presentaiton
Accounting policies and methodological choices – IFRS 17
Measurement Models (PAA,
GMM, VFA)
a.s.r.
PAA for P&C and Health
►GMM for Disability
Discount rate curve
OCI option for insurance
finance income/expense
Two approaches
mentioned:
►Similar to Solvency II
incorporating 20-30
year market
observations
►Using observations up
to a last liquid point of
30 years
Not commented
31
Market updates on impact of IFRS 17 and IFRS 9
Admiral Group PLC
►PAA for short-term
contracts
GMM for the rest
►Bottom-up approach
RFRILP
Ageas
For P&C PAA for
majority of business;
GMM/
BBA for contracts with
>1 year coverage period
For life: GMM/
BBA for discretionary
profit-sharing business,
UL business spread over
BBA/
PAA/VFA
► Top-down approach
aligned with discount
rates in S2
Allianz
For P&C, 99% of PAA
For L&H, 79% VFA, 21%
GMM
► Bottom-up approach
►RFR+ILP
Aviva
► Of operating profit: 40%
GMM, 15% V FA, 35% PAA
►Remaining business out
of scope
►Bottom-up approach
other than for annuities
which uses top-down
approach
Applied disaggregation
approach
►For non-V FA business,
OCI-option preferred
➤ Applied disaggregation
approach
Not commented
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