In reponse to our rejected Q&A number 2634 EIOPA where we questioned that the IFRS 17 P&L does not hold changes in Claims provisions, EIOPA reponsded with the comment that IFRS 17.42 prescribes that the entity shall recognise income and expenses for the following changes in the carrying amount of the liability for incurred claims and Therefore, claims incurred to be reported by IFRS 17 users should include changes in the carrying amount of the liability for incurred claims. This is correct where IFRS17 application where the Liability for incurred claims is used. However when applying IFRS17 with the use of Liability for remaining coverage, no liability for incurred claims is recognized, so in this case EIOPA reply is not applicable.

In cases where the application of IFRS 17 does not lead to the recognition of a liability for claims incurred and consequently no change in the carrying amount of the liability for incurred is accounted for, the amount of claims incurred to be reported in S.05.01 will be equal to the amount of claims paid.  This answer only addresses reporting under Commission Implementing Regulation (EU) 2023/894 of 4 April 2023 and does not constitute an assessment or opinion on the proper application of IFRS 17.