1: PFRS 17 allows and insurer to change its accounting policies for insurance contract only if, as a result of its financial atements present information that is more relevant. S2: Outward Reinsurance is where the premium and commission hall be accounted for in the different accounting period original policy to which the reinsurance relates. $3: Premium eficiency arises when the unearned premium reserve is less than the estimated claims related expenses.

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