Reinsurance

Reinsurance contracts held are measured in accordance with IFRS 17, applying the same measurement models as the underlying insurance contracts but from the cedant's perspective. Recovery tracking monitors amounts expected from reinsurers, adjusting for expected timing differences and credit risk. The platform maintains a direct link between underlying insurance contracts and their corresponding reinsurance arrangements, ensuring that changes in the primary contracts are reflected consistently in the reinsurance measurement.

Reinsurer default risk is assessed and adjusted at each reporting date, with the loss recovery component recognizing the portion of coverage that may not be collected due to counterparty failure. CSM for reinsurance contracts is calculated and released independently from the underlying insurance CSM, following the same coverage unit principles. The platform produces dedicated reinsurance reporting that separates direct insurance results from reinsurance recoveries, providing clarity on gross and net insurance performance for management and regulatory disclosure.