Having a bit of difficulty trying to understand how these are different (if at all). From my understanding: Solvency II The contract boundary is defined as the point when the company can terminate the contract, refuse premium, stop paying claims, or change the premium so it fully reflects this risk i.e. at renewal or MTA stage. If there are contractual obligations to renew the policy, this must be included within the boundary. However, this should be excluded if, in the case of motor insurance, the policy has auto-renewal but the policyholder changes provider. IFRS 17 The contract boundary is defined as the point when the company can change the premium to fully reflect the risk (as per Solvency II); or As per the core reading, the premiums for coverage up to date when the risks are assessed does not take into account the risks that relate to periods after the assessment date. It's the second bullet point under IFRS 17 which I don't fully understand. Does it mean that if there are contractual obligations to renew the policy e.g. auto-renewals, then these should be excluded (in contrast to Solvency II)? Thanks in advance.