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Getting IFRS 17 ready for lift off
Despite the recent efforts by the IASB in proposing several changes to ease the implementation of IFRS 17, the new accounting standard for insurance contracts, some in the industry believe more needs to be done. Cintia Cheong rounds up the latest developments on IFRS 17 and the outstanding issues until its launch
IFRS 17: A delay in the balance
Arguments are raging about whether implementation of the new insurance contracts accounting standard should be delayed. Cintia Cheong wraps up the latest developments in the long-running saga
ABI calls for 'minimum' two-year delay to IFRS 17 implementation
More time needed to deliver high quality financial reporting it is argued
IFRS 17 implementation costs average €160m per insurer, say CFOs
Stakeholder poll also reveals no worries over volatility of financial figures
The rise and fall of valuation methodologies
The arrival of Solvency II and revised guidance on embedded value methodologies has led to changes in the financial metrics that European insurers report – and not all of them are welcome. David Walker reports
IASB consults on temporary IFRS package for insurers
Insurers could face accounting mismatches and balance sheet volatility with implementation of financial instruments standard
Industry chiefs urge deferral of IFRS 9
Adoption before IFRS 4 Phase II would obscure insurers' financial statements
Insurers urge no reporting in Solvency II's preparation phase
Responses to Eiopa's consultation on the 2014-2016 preparation phase for Solvency II have come back with a strong message that the reporting is too burdensome and the ORSA should be stripped of its quantitative elements. Christopher Cundy reports
Matching adjustment proposals are "unnecessarily restrictive"
They should reflect the nature of the insurance business better, says Towers Watson
Talks on expected profits in future premiums deadlocked
Industry and supervisors on task force fail to agree