학술논문
IFRS17(보험계약)의 보험계약마진 측정 및 상각기준에 대한 정비방안1)
Improvement Plan for Contractual Service Margin Measurement and Allocation Standard of IFRS17(Insurance Contracts)
Improvement Plan for Contractual Service Margin Measurement and Allocation Standard of IFRS17(Insurance Contracts)
Document Type
Article
Author
Source
회계저널 / Korean Accounting Journal. Dec 31, 2023 32(6):35
Subject
Language
Korean
English
English
ISSN
1229-327X
Abstract
본 연구는 IFRS17 시행 후 회계정보 유용성 제고 여부 검증을 위해 국내 보험회사와 글로벌 보험회사간 재무영향 분석 및 보험상품 시뮬레이션을 실시하였다. 또한 보험부채의 현재가치 평가를 위해 감독당국이 제시하는 할인율의 적정성과 고객관점에서의 보험서비스 제공수준(산출법)만을 인정하는 보험계약마진 상각기준의 적정성을 분석하였다. 먼저 국내 및 글로벌 보험회사의 2023년 1분기 재무정보 비교결과, IFRS17에서 다양한 회계모형과 회계정책을 허용하고 있어 보험회사간 재무정보의 비교가능성이 저하될 수 있는 점이 확인되었다. 다음으로 보험상품 시뮬레이션 분석결과, 감독당국이 제시하는 할인율이 시장이자율과 일관되지 않고 국제적 기준과의 차이로 인해 보험계약마진의 과대평가 문제가 발생할 수 있으며, 현행 고객관점의 보험계약마진 상각기준에 의하면 보험기간 초기에 이익인식이 집중되고 있어 수익인식의 적정성에 대한 의문이 제기될 수 있다. 이로 인해 IFRS17 회계정보의 유용성이 저하될 수 있음을 보여준다. 이의 보완을 위해 할인율의 경우 시장이자율과 대응될 수 있는 방안을 도입하고, 보험계약마진 상각기준의 경우 회사관점의 보험서비스 제공수준(투입법)도 인정하는 방안이 검토될 필요가 있다.
The study analyses the financial impact between domestic and global insurance companies after the implementation of IFRS17 in 2023 and then reviews two major issues related to the contractual service margin to empirically confirm whether the usefulness of IFRS17 accounting information is improved. After the implementation of IFRS17, it was expected that the usefulness of IFRS17 financial information would be upgraded by improving comparability among insurance companies through market-to-market valuation of insurance liabilities and revenue recognition based on accrual basis of accounting, however, the study shows that the usefulness of IFRS17 financial information can be degraded. Next, as the results of insurance product simulations analysis, the discounting rate provided by financial supervisory authority is not consistent with the market interest and is different from international standards such as SolvencyⅡ, which can cause an overestimation of contractual service margin, and the output methods, current allocation standard of contractual service margin from the customer’s point of view, are apt to recognize profits at the beginning of the insurance period, which may give rise to issues about the adequacy of revenue recognition. The study proposes that the discounting rate for evaluating insurance liabilities provided by financial supervisory authority should be amended to match market interest rate, and input methods that measures the progress for providing insurance service from the company’s point of view should be permitted through the revision of IFRS17.
The study analyses the financial impact between domestic and global insurance companies after the implementation of IFRS17 in 2023 and then reviews two major issues related to the contractual service margin to empirically confirm whether the usefulness of IFRS17 accounting information is improved. After the implementation of IFRS17, it was expected that the usefulness of IFRS17 financial information would be upgraded by improving comparability among insurance companies through market-to-market valuation of insurance liabilities and revenue recognition based on accrual basis of accounting, however, the study shows that the usefulness of IFRS17 financial information can be degraded. Next, as the results of insurance product simulations analysis, the discounting rate provided by financial supervisory authority is not consistent with the market interest and is different from international standards such as SolvencyⅡ, which can cause an overestimation of contractual service margin, and the output methods, current allocation standard of contractual service margin from the customer’s point of view, are apt to recognize profits at the beginning of the insurance period, which may give rise to issues about the adequacy of revenue recognition. The study proposes that the discounting rate for evaluating insurance liabilities provided by financial supervisory authority should be amended to match market interest rate, and input methods that measures the progress for providing insurance service from the company’s point of view should be permitted through the revision of IFRS17.