Label: |
Policy maintenance - commission and other incremental expenses |
Concept Guidance: |
Report the value of commission and other incremental expenses incurred in relation to maintaining existing business. These are the variable costs of administering policies subsequent to their sale and the general administration costs.
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Form-Specifc Guidance: |
Abnormal operating expenses are not to be excluded or shown separately, but included in the relevant category. Policy acquisition items are prior to any component deferred to either policy liabilities or a deferred acquisition cost asset.
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