The Commission Regulation (EU) No 2021/2036 of 19 November 2021, published in the Official Journal of the European Union L 416 on 23 November 2021, adopts IFRS 17 Insurance Contracts.

Companies have the option to exempt intergenerationally-mutualised and cash flow matched contracts from the annual cohort requirement of IFRS 17. The Commission should by 31 December 2027 review this exemption.

Each company shall apply the requirements as from 1 January 2023.