Accounting/tax IFRS

News

IASB reforms IFRS 17 treatment of reinsurance after industry complaints

Board members agree unanimously on change of scope following consultation feedback

US insurers in better place to meet LDTI

Deadline extension has helped but work required to meet daunting change, Deloitte says

Swiss Re to adopt IFRS consolidated reporting from 2024

The reinsurer also praised the fact that IFRS 17 will deliver comparability

Hong Kong insurers urge delay in IFRS 17 to 2023

Hong Kong Federation of Insurers reveals it wrote to accounting body

IFRS 17 delay on the table in IASB discussion plan

But removal of comparative information is unlikely

Auditors "probably the biggest risk" in IFRS 17 implementation

Experts warn of consequences of not engaging with stakeholders early

PwC launches IFRS 17 In A Box software

Aim to help SME insurers achieve compliance without major transformation

Canadian insurer teams up with SAS for IFRS 17 implementation

The collaboration will help Northbridge improve data and financial management

Internal auditors should consider five areas in IFRS 17 projects

Deloitte advises on internal audit process of adopting IFRS 17

BDO hires head of actuarial from LCP

Robert Murray will work with non-life re/insurers

Analysis

Talanx RoE will be lower under IFRS 17 and 9, CFO warns

Understanding the impact of IFRS 9 and 17 is a key focus for insurers currently. German insurance group Talanx has shed light on the issue by warning its return on equity will be lower under IFRS 9 and 17. Cintia Cheong explains

The dual challenge of implementing IFRS 17 and IFRS 9

Insurers across the world whose accounting practices are based on IFRS principles are busy preparing for the most radical shakeup for a generation. Cintia Cheong explains the basics behind those changes and how the industry is preparing

IFRS 17: what insurers dislike from the final consultation

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

What's on the horizon for Bermuda's re/insurance market

Deloitte’s Gokul Sudarsana talks to Christopher Cundy about his thoughts on some of the trends and challenges that face Bermuda's insurance market

IFRS 17: on the verge of another delay?

Important EU stakeholders are calling for the insurance contracts accounting standard to be delayed once more. Cintia Cheong reports

Solvency II, IFRS 17, local GAAP, Basel IV... where is the consistency?

For the health of the financial sector and for the good of European citizens, accounting and solvency regimes for insurance and banking must be aligned around the same valuation concept, argue Serge Moulin, Giulio Terzariol and Carsten Zielke