Accounting ModuleIFRS 17 Compliant
Insurance contract measurement, CSM roll-forward, Insurance Revenue & disclosure framework
IFRS 17 Insurance Contracts — Effective 1 January 2023
This module measures insurance liabilities under the General Measurement Model (GMM/BBA), Premium Allocation Approach (PAA), and Variable Fee Approach (VFA). Insurance revenue is recognised as services are provided, not when premiums are received.
Liability for Remaining Coverage (LRC)
51,642 FRW
FCF + CSM + RA
Liability for Incurred Claims (LIC)
0 FRW
Best Estimate + RA
Contractual Service Margin (CSM)
1,280 FRW
Unearned profit
Risk Adjustment (RA)
1,506 FRW
Non-financial risk compensation
Insurance Revenue (YTD)
8,538 FRW
Services provided this period
Insurance Service Expense (YTD)
0 FRW
Incurred claims + RA change
Insurance Service Result
8,538 FRW
Revenue minus service expense
- Insurance Revenue
- Service Expense
