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Accounting/tax IFRS
News
Prioritise IFRS 17 and 9, European insurers tell IASB
Insurance Europe responds to IASB's five-year plan
Brits brand the EU's IFRS 17 annual cohorts proposal "very negative"
UK's accounting experts give preliminary views on IFRS 17 endorsement
UK delays IFRS 17 endorsement
UKEB was due to publish its final endorsement decision in February 2022
Global actuaries publish IFRS 17 educational document
IAN 100 incorporates amendments to the standard published in June 2020
Comment: IFRS 17 planning all comes down to the transition
IFRS 17 becomes effective in less than 500 days, and planning for the transition is key
Takaful insurer using FIS Prophet for IFRS 17 implementation
Deal follows FIS's collaborations with other insurers in Southeast Asia
UKEB urges greater disclosure with IFRS 17 and 9 mismatch solution
Extra information requirements are proposed for insurers
Insurers reveal Covid-19 impacts on IFRS 17 implementation
PwC's survey shows one third of respondents have not started test runs
Efrag raises inconsistency concern on IFRS 17/9 mismatch fix
EU's accounting advisors generally support IASB's plans
IASB proposes classification overlay to fix IFRS 17 and 9 mismatches
Consultation runs until 27 September
Analysis
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
IFRS 17 confidence level disclosure: ultimate run-off vs one year
Cintia Cheong explores why insurers face a tricky choice between the two different time horizons for the confidence level disclosure of the IFRS 17 risk adjustment