Provision Missing To Accommodate Experience Adjustments For Premium Receipts
(Doc ID 2829499.1)
Last updated on DECEMBER 26, 2021
Applies to:Oracle Insurance Accounting Analyzer - Version 8.0.6 and later
Information in this document applies to any platform.
The Reconciliation Output template for LFRC is currently missing a placeholder to accommodate the experience adjustment in premiums that relates to current or past service, which should go to the P&L as insurance revenue.
This requirement is per IFRS 17 standard para B124(d) which breaks down the components for insurance revenue.
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