IFRS 17: what insurers dislike from the final consultation

24 October 2019

Published in: Corporate strategy, Reinsurance, Regulation, Accounting - tax, Associations, Investment, UK, Rest of Europe, US - Canada - Bermuda, ROW, Software - IT, People, IFRS 17

Companies: : International Accounting Standards Board, IASB, International Association of Insurance Supervisors, IAIS, European Insurance and Occupational Pensions Authority, Eiopa, Korean Life Insurance Association, KLIA, Munich Re, Prudential, European Financial Reporting Advisory Group, Efrag, Sun Life, Manulife, AIA, GDV, General Insurance Association of Japan, Swiss Insurance Association, Ping An, Legal & General, L&G, Allianz, Samsung Life, Old Mutual, AMP Life, QBE, Old Mutual, Insurance Australia Group, IAG, Assuralia, Fédération Française de l’Assurance, Aviva

The treatment of reinsurance accounting under IFRS 17 appears to be the most consistent complaint from re/insurers, but deciding when the standard should take effect continues to generate disagreements among stakeholders. Cintia Cheong reports