23A group of insurance contracts shall comprise a single contract if that is the result of applying paragraphs 14–22.

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23 A group of insurance contracts shall comprise a single contract if that is the result of applying paragraphs 14–22.
24 An entity shall apply the recognition and measurement requirements of AASB 17 to the groups of contracts determined by applying paragraphs 14–23. An entity shall establish the groups at initial recognition and add contracts to the groups applying paragraph 28. The entity shall not reassess the composition of the groups subsequently. To measure a group of contracts, an entity may estimate the fulfilment cash flows at a higher level of aggregation than the group or portfolio, provided the entity is able to include the appropriate fulfilment cash flows in the measurement of the group, applying paragraphs 32(a), 40(a)(i) and 40(b), by allocating such estimates to groups of contracts.

Recognition

Section 23 - AASB 17 Insurance Contracts - July 2017 - A group of insurance contracts shall comprise a single contract if that is the result of applying paragraphs 14–22. | Zoe