Source module for IFRS17 CSM amortization simulation
This module contains formulas to simulate amortization of contract service margin (CSM) defined in IFRS17.
This module is a mix-in module to projection module in nestedlife project.
Cells
AcqPremRatio() |
Ratio of PV Acquisiton Cashflows to PV Premiums. |
AdjCSM_FulCashFlows(t) |
Adjustment to CSM for changes in fulfilment cashflows (44(c)->B96-B100) |
AmortAcqCashflow(t) |
Amortization of Acquisition Cash Flows |
CSM_Unfloored(t) |
Unfloored CSM (38, 44) |
CovUnits_BoP1(t) |
The number of coverage units at t after new business |
CovUnits_EoP(t) |
The number of coverage units at t |
ExpectedAcqCashflow(t) |
Expected Acquisition Cashflow |
ExpectedClaims(t) |
Expected Claims |
ExpectedExps(t) |
Expected Expense |
ExpectedInterestCashflow(t) |
Expected Interest on future cashflows |
ExpectedPremium(t) |
Expected Premium Income |
IncurredClaims(t) |
Incurred Claims |
IncurredExps(t) |
Incurred Expenses |
InsFinanceIncomeExps(t) |
Insurance Finance Income or Expenses (80(b), 87-92, B128-B136) |
InsRevenue(t) |
Insurance Revenue (82-85, B120-B125) |
InsServiceExps(t) |
Insurance Service Expense (103(b)) |
InsServiceResult(t) |
Insurance Service Result (80(a), 83-86) |
IntAccrCSM(t) |
Interest accreted on CSM (44(b)) |
InvstComponents(t) |
Investment Components in Incurred Claims |
NetBalance(t) |
Net insurance assets plus accumulated cashflows. |
NetInsAssets(t) |
Net Insurance Assets or Liabilities |
PV_CashFlows(t, t_at, t_rate) |
Present value of future cashflows |
PV_FutureCashflow(t) |
Present value of future cashflow |
PV_SumCovUnits(t, t_rate) |
Present value of cumulatvie coverage units |
RelsRiskAdj(t) |
Release of Risk Adjustment to Revenue |
RiskAdjustment(t) |
Risk Adjustment |
TransServices(t) |
Transfer of services (44(e)->B119) |
ifrs17sim.ifrs.NetInsAssets(t)[source]¶Net Insurance Assets or Liabilities
Warning
The liabilities for incurred claims are not implemented.
ifrs17sim.ifrs.AdjCSM_FulCashFlows(t)[source]¶Adjustment to CSM for changes in fulfilment cashflows (44(c)->B96-B100)
Warning
Only B96(b) changes in PV of the future cashflows are implemented.
TODO: Risk Adjustment is yet to be implemented. At the momement this adjustment only considers present value of future cashflows.
TODO: Loss component for onerous contracts are yet to be implemented. At the momemnt this adjustment allows negative CSM.
ifrs17sim.ifrs.PV_CashFlows(t, t_at, t_rate)[source]¶Present value of future cashflows
This formula takes 3 time parameters. The projection starts from t, and the projected cashflows are discounted back to t_at. The discount rates applied are the ones at t_rate.
| Parameters: |
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ifrs17sim.ifrs.PV_SumCovUnits(t, t_rate)[source]¶Present value of cumulatvie coverage units
The non-economic assumptions used for future estimation are the current estimate at time t.
The discount rates used are the ones at time t_rate.
ifrs17sim.ifrs.InsFinanceIncomeExps(t)[source]¶Insurance Finance Income or Expenses (80(b), 87-92, B128-B136)
Warning
Accounting Policy Choice 88(b) not implemented.
ifrs17sim.ifrs.ExpectedClaims(t)[source]¶Expected Claims
Warning
Using actuarl invest componets as proxy.
ifrs17sim.ifrs.RelsRiskAdj(t)[source]¶Release of Risk Adjustment to Revenue
Warning
To be implemented.
ifrs17sim.ifrs.InvstComponents(t)[source]¶Investment Components in Incurred Claims
Warning
To be implemented.