The April 2014, Issue 39 of KPMG ISG's IFRS Newsletter: Insurance - Moving Towards International Insurance Accounting discusses the IASB's redeliberations about:
Insurance Contract Revenue. The Board confirmed that it still supports the provisions of its 2013 Exposure Draft, Insurance Contracts, related to presentation of insurance contract revenue in profit or loss and disclosures related to volume information.
Project Plan for Non-Targeted Issues. The IASB decided to limit discussion about non-targeted issues to seven items. The IASB staff suggested that only three of these issues require more analysis: portfolio definition and unit of account, discount rate for long-term contracts and unobservable market data, and asymmetrical treatment of reinsurance contracts. The staff does not expect additional analysis of fixed-fee service contracts, significant insurance risk guidance, recognition of contracts acquired through portfolio transfers or business combinations, and allocation of the contractual service margin.
The final IASB standard is expected to be issued in the first half of 2015.