Paragraphs 14-24 establish recognition and level of aggregation. Per public IFRS 17 abstract + IFRS Foundation Project Summary + Wikipedia + Big 4 Insurance Industry Insights (full IFRS 17 text NOT reproduced): an entity shall recognise a group of insurance contracts it issues from the earliest of: beginning of the coverage period; date on which the first payment from a policyholder in the group becomes due; for a group of onerous contracts, when the group becomes onerous. Level of Aggregation: entity shall identify portfolios of insurance contracts comprising contracts subject to similar risks and managed together (typically a product line); within each portfolio establish three groups: (a) contracts that are onerous at initial recognition; (b) contracts that have no significant possibility of becoming onerous subsequently; (c) any remaining contracts. Portfolio splitting by annual cohort: contracts issued more than one year apart cannot be aggregated in the same group; 2020 IASB Amendments provided narrow scope exception for intergenerationally mutualised contracts and cash flow matched contracts. Onerous Contract Identification: assessed at recognition + reassessed at each subsequent reporting date; onerous if total expected future cash outflows exceed total expected cash inflows + risk adjustment + at initial recognition + CSM is zero (no profit to recognise over coverage); loss component established for onerous contracts to track loss recognition + future reversal; loss-recovery component for reinsurance held against onerous direct contracts. Coordinates with IFRS 17 Para 14-24 + 2020 Amendments + IASB Transition Resource Group (TRG) FAQs + national insurance regulator guidance (PRA + EIOPA + APRA + MAS + OSFI + JFSA). IFRS 17 Recognition + Aggregation applies.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.