Page 201 - IC46 addendum

Indian Accounting Standards

Changes in insurance liabilities and related items

IG37 Paragraph 37(e) of this Standard requires an insurer to disclose
reconciliations of changes in insurance liabilities. It also requires disclosure
of changes in reinsurance assets. An insurer need not disaggregate those
changes into broad classes, but might do that if different forms of analysis
are more relevant for different types of liability. The changes might include:

(a) the carrying amount at the beginning and end of the period.
(b) additional insurance liabilities arising during the period.
(c) cash paid.
(d) income and expense included in profit or loss.
(e) liabilities acquired from, or transferred to, other insurers.
(f) net exchange differences arising on the translation of the

financial statements into a different presentation currency, and
on the translation of a foreign operation into the presentation
currency of the reporting entity.

IG38 An insurer discloses the changes in insurance liabilities and
reinsurance assets in all prior periods for which it reports full comparative
information.

IG39 Paragraph 37(e) of this Standard also requires an insurer to disclose
changes in deferred acquisition costs, if applicable. The reconciliation might
disclose:

(a) the carrying amount at the beginning and end of the period.
(b) the amounts incurred during the period.
(c) the amortisation for the period.
(d) impairment losses recognised during the period.
(e) other changes categorised by cause and type.

IG40 An insurer may have recognised intangible assets related to insurance
contracts acquired in a business combination or portfolio transfer. Ind AS 38
Intangible Assets contains disclosure requirements for intangible assets,

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