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