The Group applied IFRS 17 for the first time in the period beginning 1 January 2023. Due to the need to prepare comparative data, 1 January 2022 is assumed as the date of transition to the new standard. The Group has implemented IFRS 17 as of 1 January 2023 using a full retrospective approach and a modified approach for part of its portfolio.
The risk-free interest rate curves published by EIOPA (European Insurance and Occupational Pensions Authority) were used for the measurement at the transition date.