A comparative analysis of cost calculation under Solvency II and IFRS 17

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dc.contributor.authorZelinová, Silvia
dc.contributor.authorŠpirková, Jana
dc.date.accessioned2026-09-08T06:53:06Z
dc.date.available2026-09-08T06:53:06Z
dc.date.issued2026
dc.descriptionIn: Odyssey conference : proceedings of FEB Zagreb 17th International Odyssey conference on economics and business / rec. Ana Aleksić Fredotović, Antea Barišić, Radoslav Barišić ... [et al.]. 1/2026. 1. vyd. Záhreb : University of Zagreb, 2026. ISSN 3102-4823. Pp. 252-266.
dc.description.abstractThis paper provides a comparative analysis of the cost calculation methodologies under the Solvency II regulatory framework and the IFRS 17 accounting standard, focusing particularly on their implications for actuarial practice. Although both frameworks require insurers to evaluate and distribute costs related to insurance liabilities, their underlying conceptual and operational principles differ significantly. Solvency II is based on a prescriptive, risk-based approach focusing on economic valuation and 'best estimate' assumptions, which directly influence cost determination and allocation for solvency purposes. In contrast, IFRS 17 is a principles-based accounting framework that gives insurers some flexibility in how they calculate costs, provided they uphold the relevant accounting principles of relevance, faithful representation, and consistency. The theoretical section of the paper outlines the core requirements of each framework, including the role of actuarial assumptions and the allocation of expenses to insurance contract groups. The comparative analysis reveals how regulatory and accounting objectives can result in different approaches to cost treatment, measurement bases and output interpretation. Attention is given to the implications of these differences for actuarial valuation, management reporting and internal control functions within insurance companies. To bridge the gap between theory and practice, the paper provides an example to show how a consistent set of cost drivers and assumptions can lead to different cost allocation outcomes when evaluated under Solvency II versus IFRS 17.
dc.description.sponsorshipVEGA 1/0497/25 Implementácia inovatívnych prístupov v oblasti riadenia a modelovania rizík v rámci interných modelov poisťovní VEGA 1/0124/24 Slovensko v kontexte dôchodkového indexu a indexu starnutia populácie - perspektíva budúcnosti ESG A-25-103/3020-17 Improving students' knowledge and skills in project management using the IPMA methodology
dc.identifier.doihttps://doi.org/10.22598/odyssey/2026.8
dc.identifier.issn3102-4823
dc.identifier.urihttps://repo.umb.sk/handle/123456789/1610
dc.language.isoen
dc.publisherUniversity of Zagreb
dc.rightsCC BY-NC-SA Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International
dc.rightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttps://creativecommons.org/licenses/by-nc-sa/4.0/
dc.subjectvýpočty
dc.subjectkalkulácie
dc.subjectcalculations
dc.subjectmethodology of economics
dc.subjectanalýza nákladov
dc.subjectcost analysis
dc.subjectmetodika
dc.subjectmethodics
dc.subjectmethodology
dc.titleA comparative analysis of cost calculation under Solvency II and IFRS 17
dc.typeArticle
dc.typeinfo:eu-repo/semantics/article

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