Net insurance margin under IFRS 17

Under the IFRS 17 income statement, the "net insurance margin" , may be defined as:

NIM = (Insurance service result) / (Net insurance revenue)



"Normalised"net insurance margin

When relevant, the normalised NIM adjusts net insurance claims and acquisition costs for:

Net insurance claims ratio

NICR = (Net insurance claims) / (Net insurance revenue)


Net expense ratio

NER = (Operating expenses) / (Net insurance revenue)

Net acquisition costs ratio

NER = (Acquisition costs) / (Net insurance revenue)


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