TFRS 17 introduces a measurement model made up of estimates of future cash flows, the time value of money, a risk adjustment and the contractual service margin. It has a far-reaching effect on insurers' actuarial, finance and information systems processes.
Source: TFRS 17
Related terms
Financial instruments (TFRS 9)The standard governing the classification, measurement and impairment of financial assets and liabilities, and hedge accounting.Turkish Financial Reporting Standards (TFRS)The financial reporting standards issued by the POA in line with International Financial Reporting Standards (IFRS).Accounting policiesThe specific principles, bases, conventions, rules and practices an entity applies in preparing its financial statements.Amortised costThe amount at which a financial asset or liability is measured at initial recognition, minus principal repayments, plus cumulative amortisation calculated using the effective interest method.AssociateAn entity over which the investor has significant influence but not control or joint control.BOBİ FRS (Turkish GAAP for SMEs)The financial reporting standard issued by the POA for large and medium-sized entities that are subject to independent audit but do not apply TFRS.
Last updated: October 22, 2026 · This definition is for general information only.