Disclosure Reinsurance Income
Disclosure Reinsurance Income
Should an insurer separately disclose reinsurance income in the P&L as a revenue, so that the reader sees net premium received and reinsurance income as components of revenue or should the insurer net off the reinsurance income with commission expense under acquisition costs (=cost of sales) ?
Re: Disclosure Reinsurance Income
If you take the P&L by AXA, it seems that they disclose the gross amount of reinsurance (page 292, footnote a)
and commissions were disclosed in note 25 "Acquisition costs", what do you think ?
https://www-axa-com.cdn.axa-contento-11 ... ssible.pdf
and commissions were disclosed in note 25 "Acquisition costs", what do you think ?
https://www-axa-com.cdn.axa-contento-11 ... ssible.pdf
Re: Disclosure Reinsurance Income
It looks like AXA keeps reinsurance commission completely separate under 23.
Re: Disclosure Reinsurance Income
Isn't note 23 disclose the outward reinsurance, which from my understanding, is insurance risks transferred to third parties ?
Re: Disclosure Reinsurance Income
Yes, outward. I meant outward in my question where insurers receive reinsurance commission from the reinsurer.