Regulations Governing Enrollment in Postal Simple Life Insurance Policies Article 37

When the Premium Allocation Approach is applied to the contract group, incurred loss reserve shall be set aside based on the liability for incurred claims measured.Liability for incurred claims referred to in the preceding paragraph are the cash flows calculated in accordance with the regulations of IFRS 17 and based on the actuarial assumptions stipulated in Articles 28 and 29, which were allocated to the contract group on the measurement date and related to past services. However, for the expected future cash flows paid or received within one year from the date of claim, the corresponding fulfillment cash flows shall not reflect the amount impacted by the time value of money and financial risk.