Accounting/tax IFRS

News

Lloyd's RITC deals cause last-minute hitch to UK's IFRS 17 endorsement

UKEB endorsement decision likely on 25 March

We prefer to keep IFRS 17 annual cohorts in Asia, says Generali

The insurer's IFRS 17/9 programme manager for the Asia Region shares his insights

ESRB highlights discount rates as key risk in IFRS 17

European Systemic Risk Board also warns about EU's carve out

Australian regulator rejects internal models in revised capital framework

Revision prompted by introduction of AASB 17 accounting standard

IASB amends IFRS 17 to fix transition mismatches

Change relates to transition only, other requirements are not affected, says IASB

Final version of IFRS 17 expected on 9 December

IASB to amend the standard following concerns over potential mismatches in IFRS 17 and 9 transition

New Zealand insurer picks Legerity for IFRS 17 implementation

Legerity FastPost to support business transformation at Fidelity Life

Allianz CFO: earnings volatility will be higher under new accounting standards

Giulio Terzariol blames IFRS 9 rather than IFRS 17

Insurers late in sharing IFRS 17 performance outlook

EY survey reveals sector lacks consensus on measuring ROE

UK's IFRS 17 endorsement reopens inherited estates debate

Ex-MEP Sharon Bowles says accounting standard should not be approved

UK should stick with IASB's version of IFRS 17, says Aviva's Clube

Any country-specific issues should be addressed by international board

How US life insurers are tackling LDTI challenges - free download

InsuranceERM and Moody's Analytics special report on implementing the accounting standard

UK tentatively approves IFRS 17

Predicts implementation costs of £1.2bn for UK insurers

IFRS 17 pushes Zurich to change life business assumptions

Risk of increased volatility ahead of IFRS 17 adoption, says insurer

Baroness Bowles questions UKEB over "true and fair" assessment

Accounting standard endorsement body won't challenge established views, says UK peer

IASB expands scope for IFRS 17/9 fix

A proposal to offer relief was consulted on earlier this year

Analysis

InsuranceERM's top stories of the year

Christopher Cundy, Ronan McCaughey, Sarfraz Thind and Paul Walsh reveal the most-read stories that ran in 2021 and discuss why they will remain relevant in 2022

UK annuity writers await crucial paper on IFRS 17 profit recognition

Cintia Cheong reports on how insurers and auditors are under pressure to reach a consensus on applying IFRS 17 to annuities - a decision that could seriously impact insurers' balance sheets

Insurers struggle to explain LDTI volatility to stakeholders

From communication to interpretation, experts discussed their challenges with implementing the incoming US life insurance accounting standard at last week's webinar. Cintia Cheong reports

"LDTI will drive income volatility"

Cintia Cheong talks to experts about why reforms to US insurance accounting standards will cause income volatility and whether adopting the standard early can bring any benefits

How much is IFRS 17 costing the insurance industry?

Insurers are 19 months away from having to implement the new contract accounting standard and it is already costing them more than anticipated. Cintia Cheong finds out why

Reinsurance could potentially offer IFRS 17 profit mutualisation

Alexandre Tzenev, managing director for financial solutions EMEA at Scor, tells Cintia Cheong how reinsurance can offset the impact of onerous contracts under IFRS 17