adipelino
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@graham @Staff-T1 similar to @mimilau5858 's comment, this was what I was expecting:
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thank you!
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I also found various materials to be unclear - they either say FCT must be performed annually or when directed by the superintendent... When/how often does it have to be done?
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I know this would make a difference in practise (whether you're removing category B or Capital), but would the total deduction be the same either way? @Staff-T1 @graham
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I think because we're starting with the given capital amount (insurance risk margin) and slowly releasing it as we're providing services. As risk is released, we need less capital to support it. So it's not really a 'payment' but a release of capita…
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I think there's no real difference to the discounting or anything because whether we look at issue or accident year, they stay at the same payment timing (year of CF). So would it really just be a matter of following whatever payment pattern they gi…
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My guess was that it'd be the same as calculating the excess (deficiency) as we've seen before, but then just dividing by equity. I've seen old questions where they ask for the excess (deficiency) ratio and just divide by the beginning unpaid cla…
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oh, the Excel version of F2016 I have downloaded is incorrectly labeled; the given data was labelled as 2015 and 2016 instead of 2015 and 2014. Thanks!
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https://battleactsmain.ca/vanillaforum/discussion/1073/combined-approach-for-estimating-llp#latest this may answer your question!
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I think I am confused because of the text below the diagram on the right. We have that under GMA if onerous: * LC = FCF (based on your earlier post) * LRC = FCF (based on the screenshot above) * LRC = LRC excl LC + LC (based on the screenshot…
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Then this GMA section implies I guess that at initial recognition for an onerous contract, LRC excl LC = 0? And then later we allocate changes (if any) in CF between LRC excl LC and LC, so is this when it becomes nonzero? "the subsequent chang…
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ok I guess it was the FCF approach label that wasn't clear, thanks!
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I thought it was same as for the PAA approach. the FCF approach is GMA and simplified is PAA:
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I was pretty sure it's not net of reinsurance because one of the major requirements of IFRS 17 presentation is to report all insurance and reinsurance separately. I think it may be net of S&S though?
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does the fact that OSFI is for FRFIs mean that provincial insurers don't have to do ORSA and anything else prescribed by OSFI? I know they'd still have to do FCT which needs the ICT often set by ORSA, but I'm not sure what the requirements are.
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the formula with share of net income/loss is the CCIR instructions version used in the PC3 return. However I believe it's (Investment return + share of net income/loss...) not (Net II + share of net income/loss...) The MSA ratio formula uses (N…
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The participation ratio determines how much of the pool experience an insurer 'assumes' or is responsible for - they get this % of pool premium and must pay this % of pool losses. The transfer limit determines how much an insurer can cede to the po…
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Oh yes I am. I'll try elsewhere, thanks!
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this is what I see when I follow your video's steps
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the Top Questions page isn't working when I click on any of the Show Qs button - no questions appear
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1) I believe they're saying it's hard to force an insurer into paying your claims any faster than they are, so the outstanding claim payments are illiquid 2) LRC is more liquid than LIC because it's easier to cancel a contract and get premium ref…
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@jjj820 I believe this would mainly apply to PAA, where we don't measure using FCF automatically
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@graham any thoughts?
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so only the compensation fund and assessments count?
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what do you mean by not amortizing DAC under GMA? I believe it enters the PV(CF) calculation in FCF, but the GMA v PAA summary says that you cannot recognize them upfront in GMA: https://www.battleactsmain.ca/pdf/CIA.IFRS17-LRC_compare_GMA_PAA.p…
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the 50/50 for participation is in the bulletin only.
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So we would only add B & C to get the 'gross' capital if we were explicitly given Category A common shares and category B & C separately? Otherwise, just 'common shares' covers category A CS and category B + C also?
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I think it's saying for example, let's assume a 1-year coverage period policy incurs a claim in month 11/12. It could still be unsettled (not paid) in month 13, 14, ... (beyond month 12) but the coverage period would end at month 12 and so would the…
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does the OCI option apply only to PAA or to both? I thought it applied to both but this chart in the IFRS 17 - DR source reading seems to say it doesn't (or at least there's no difference) pg. 31 of CIA - Discount Rates
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@graham don't we need a yield curve, not a single rate???