IFRS 17 - Insurance Contracts
Scope, combination, separation, aggregation and recognition (paragraphs 1 to 28F) – IFRS 17 - Insurance Contracts

IFRS 17 - Insurance Contracts 9: Combination of insurance contracts

What does 9 require?

Where several insurance contracts, or a series of them, are written with one counterparty or with related counterparties and together achieve, or are meant to achieve, a single overall commercial result, the entity may have to account for them as one in order to reflect their substance. Where what one contract grants or requires simply cancels out, in full, what another contract grants or requires, that other contract being made with that same counterparty at the same moment, taken together they create no rights or obligations at all.

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