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Korean life insurers press for longer IFRS 17 delay - UPDATED
Firms need more time to prepare for the regulatory change
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
Consultation on IFRS 17 changes given green light
Proposed amendments as a whole meet IASB criteria for changes
Europe's IFRS 17 advisor appoints new chiefs
Chiara Del Prete and Saskia Slomp replace Andrew Watchman from April
IASB will not change IFRS 17 aggregation requirements
But amendments for credit card contracts and risk mitigation option approved
IFRS 17 Conference: what have we learned?
The upcoming accounting standard for insurance contracts poses several challenges to the industry ranging from skills shortages to stakeholder engagement. On 27 February, experts convened at InsuranceERM's IFRS 17 Conference in London to discuss their approach to successful implementation. Cintia Cheong summarises the findings
Principles-based approach of IFRS 17 defended
IASB board member Darrel Scott makes the case at InsuranceERM’s IFRS 17 conference
Don't postpone IFRS 17 deadline again, says Allianz
Cintia Cheong asks Remo Cavegn, Allianz One.Finance programme director, about why the 2022 deadline should stay and how the German insurer is managing to stay ahead of the game
Proposed changes to IFRS 17 transitional arrangements "not far enough"
David Wilson, IFRS 17 programme director at Aegon UK, tells Cintia Cheong what he thinks of the recently proposed amendments to the accounting standard, and how the company will achieve a consistent implementation while leveraging Solvency II processes
"IFRS 17 is the most cross-function project we've ever had"
Erich Kruschitz, head of group finance of Uniqa, tells Cintia Cheong about the challenges the company faces with the implementation of IFRS 17 and 9 accounting standards