I was looking through a short term and health insurer's financial statements and noticed a negative gross DAC figure. The only circumstances that I could think of in which gross DAC would be negative was if there had been a mass lapse causing a large clawback of commission.
That's a possibility I guess. Alternatively, I've a feeling IFRS17 only has limited allowance for DAC, so perhaps this company is adopting the accounting standard early (ie before it comes into force in 2021/2022).