Investment Components and Other Non Service Payments Stefan Engeländer

The IASB issued 2017 the new comprehensive insurance accounting standard IFRS 17, with amendments issued in 2020. In line with IFRS 9, IFRS 17 does not permit to present receipts and repayments of deposits, in IFRS 17 referred to as investment components, in P&L. In general, all payments which do not represent the provision of services are excluded from presentation in P&L. The identification of such payments requires judgment and the proper exclusion of those amounts from P&L is a challenge for the accounting systems.