IFRS 17

News

Insurers still face huge IFRS 17 workload and up to $24bn bill

WTW says shortcuts and simplifications needed to implement the standard on time

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

IFRS 17 third-party reliance a "key risk" for Mena insurers

AM Best comments on region's preparedness for the accounting standard

Taiwanese insurer adopts CCH Tagetik for IFRS 17

Europe stresses quality of outreach with IFRS 17 annuity ruling

The UK, meanwhile, has urged broader issues to be addressed at post implementation review

Discount rates a major factor for IFRS 17 PAA eligibility in reinsurance

Reinsurance contracts with longer coverage periods are not automatically eligible for PAA

IFRS 17 "ripe for judicial review", says UK peer

Sharon Bowles continues to attack UKEB/FRC over secret discussions and audit reforms

Deloitte partners with SAS for IFRS 17 acceleration

UK officially approves IFRS 17

UKEB raises broader concerns with annuity profits recognition and calls for a more in-depth review

Disclose IFRS 17 impacts mid-year, Esma urges insurers

The authority published its disclosure recommendations for EU insurers

Ukraine's insurers urge regulatory "Marshall plan" to survive war

Proposals include IFRS 17 delay and softening regulatory requirements

GFIA ends Russian insurers' membership

Decision comes two months after Insurance Europe ended its partnership with Russian insurers

UK insurers stalling on IFRS 17 disclosure

Grant Thornton analysis of 2021 reports finds little information beyond project progress

UKEB votes in favour of IFRS 17 adoption

UKEB's assessment of the true and fair principle on IFRS 17 continues to be challenged

Scor finds economic value of €9bn under IFRS 17

French reinsurer reveals preliminary impacts of new accounting standards

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Analysis

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

Annuity profits and RITC top concerns in UK's IFRS 17 endorsement

Despite overall support for adoption of IFRS 17, the UK Endorsement Board has received pushback from some stakeholders over a handful of issues. Cintia Cheong reports on the concerns

QBE's Richard Rees: IFRS 17 is less of a leap for Australian insurers

The insurer's IFRS 17 technical lead in Europe tells Cintia Cheong why the insurer will have to prepare for three different accounting bases after Brexit and explains the unresolved issues with implementation

Actuaries at a premium in UK's hot jobs market

The UK jobs market for actuaries is booming, but how has the Covid-19 pandemic changed the sector? Cintia Cheong reports on the latest UK actuarial recruitment trends

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

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