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November 2021

South Korea: Kyobo Life revives attempt to go public

    By Asia Insurance Review | November 19, 2021

    Kyobo Life Insurance, which the third largest life insurer in South Korea by assets, plans to go public on the Korea Exchange(KRX) by next year, with the initial public offering aimed at laying the groundwork to turn the company into a financial group with a holding company structure to offer a wider range of financial services other than insurance.Read More »South Korea: Kyobo Life revives attempt to go public

    The new IFRS-17: Have insurers got themselves covered?

      By Sabra Salum | The Citizen | November 11, 2021

      For the financial sector, regulatory change is a constant. From an accounting perspective, one of the most dramatic recent changes (especially for the banking sub-sector) was the International Financial Reporting Standard-9 (IFRS-9) dealing with financial instruments, and which applies to accounting periods beginning on or after January 1, 2018. A similarly dramatic change is in store for the insurance sub-sector – what with the introduction of IFRS-17 on Insurance Contracts. This will replace IFRS-4, and will apply to the accounting periods beginning on or after January 1, 2023.Read More »The new IFRS-17: Have insurers got themselves covered?