Insurance Guarantees - Wording


What is a loss-recovery component of a group of reinsurance contracts?

    For a group of reinsurance contracts held that provides coverage for anonerous group of insurance contracts and was entered into before or at thesame time that the insurance contracts were issued, an entity shall establish aloss-recovery component of the asset for remaining coverage at the transitiondate (see paragraphs 66A–66B).

How does paragraph 1422 apply to a group of reinsurance contracts?

    Applying paragraphs 14?22, at the date of the transaction an entity mightinclude in an onerous group of insurance contracts both onerous insurancecontracts covered by a group of reinsurance contracts held and onerouscontracts not covered by the group of reinsurance contracts held.

What is financial guaranty insurance?

    (V) The financial guaranty insurance policies provide that if, prior to payment by the insurer under the financial guaranty insurance policies, the guaranty fund has paid a claim under such contracts for an amount that, when added to the amount payable under the financial guaranty insurance policies, would exceed the amount owed under such

What are insurance acquisition recoveries?

    recoveries of insurance acquisition insurance contracts issued before recognised at the transition date; of insurance contracts. At the transition date, the entity shall exclude from the measurement of anygroups of insurance contracts the amount of any asset for insuranceacquisition cash flows.
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