IASB June 2009

The Board continued its discussion of candidate measurement approaches for insurance contracts. The Board decided tentatively to include in the list of candidates a measurement approach based on the updated model being developed in the project to amend IAS 37 (modified to exclude day one gains).

The Board also tentatively removed the following candidates from that list:

• a fulfilment value that includes a margin for the cost of bearing risk and a residual margin (former candidate 3) 
• a current exit price (modified to exclude day one gains, former candidate 1)

Next steps

The Board will continue its discussion of the candidate measurement approaches for insurance contracts, with the aim of concluding on the measurement approach in July.

The Insurance Working Group will provide input for this decision at its next public meeting, on 29 and 30 June in London.

The Board also:

• decided tentatively to perform targeted field testing of the proposals being developed. 
• reviewed the timetable for the project and stressed the importance of publishing an exposure draft by the end of 2009.