Accounting/tax IFRS

News

Moody's acknowledges IFRS 17 CSM has equity characteristics

Rating agency proposes rule of thumb for including CSM in equity calculations

BMA publishes 2023 business plan

Formalising DEI and ESG approaches are a key priority

Generali calls for input on new disclosures under IFRS 9/17

CFO Cristiano Borean says accounting alignment with Solvency II is "material benefit"

Transparency for life business is big win from IFRS 17, says Allianz CFO

Giulio Terzariol says the change from IFRS 4 is positive

L&G's shareholders' equity will halve on IFRS 17 transition

But CSM and risk adjustment will create £13.5bn stock of future profits

NN Group sees IFRS 17 discount rate methodologies aligning

But parameters will differ, says Harm van de Meerendonk

Axa predicts stable shareholders' equity on transition to IFRS 17/9

French insurer's approach to accounting standard aligns with Solvency II

Zurich CFO welcomes "unexpected benefits" of IFRS 17

George Quinn forecasts a smooth transition to the 2023 accountancy standard

Scor CEO: IFRS 17 will force us into improving value explanation

During RVS 2022, Laurent Rousseau warned to expect more volatility in financial metrics

Interpretations Committee to consider tweaks to IFRS 17 for multi-currency contracts

Changes to wording of tentative agenda decision due for approval next week

US Senator probes Blackstone subsidiary over "tax evasion" policies

PPLI could be used for tax avoidance by wealthiest, says Wyden

KPMG: seven ways insurers can prepare for IFRS 17 and IFRS 9

Standards will significantly change financial reporting for underwriters

IFRS 17 annuity accounting decision approved by IASB

Accounting standards board also considers clarifications on multi-currency contracts

IFRS Interpretations Committee concludes on annuity profit recognition for IFRS 17

Insurers had advocated for an alternative method to be used

IFRS 17's multiple currency implications to be reviewed

An upcoming date for the IFRS Interpretations Committee to consider the issue has been agreed

Sun Life to lose up to 20% in shareholder equity with IFRS 17

Canadian insurer expects increase in liabilities due to CSM on transition

Analysis

Finding a consensus on IFRS 17 leverage ratios

Some signs of agreement on how financial leverage will be presented under the new insurance contracts accounting standard are emerging, but options remain open, as Christopher Cundy reports

IFRS 17's second-order effects begin to crystalise

The insurance sector is beginning to look beyond the surface and understand what changes the IFRS 17 era will bring to business. Paul Walsh reports

LDTI: beneath the headlines

The biggest US insurance accounting change in decades is causing some startling impacts on financial metrics, but the likely effects of LDTI are not troubling many. Sarfraz Thind reports

IFRS 17: still waiting for disclosures

The IFRS 17 accounting standard is due to be implemented in five months' time, but many insurers are leaving it until the eleventh hour to reveal what impact the transition will have on their financial metrics. Christopher Cundy and Paul Walsh report

IFRS IC likely to stand its ground on IFRS 17 annuity decision

Staff at the IFRS Interpretations Committee have backed the original decision on annuity accounting, going against the view of most stakeholders. Cintia Cheong reports

LDTI takes a bite from insurer balance sheets

US insurers have begun disclosing the impact of 2023's new accounting standard, proving beyond doubt it will be one of the biggest shifts in accounting rules in years. Sarfraz Thind reports