Documents and articles about IFRS 17
By Jason Contant | Canadian Underwriter | September 22, 2021
Learning how to “speak IFRS 17” will be an essential skill for insurers for both ongoing effective governance and communicating business performance to stakeholders, a partner at PwC Canada said.Read More »Are you ready for the changes in IFRS 17?
By Fitch Ratings | January 7. 2022
IFRS 17 can enhance our insurance sector analysis, Fitch Ratings says. We expect most ratios used in our financial performance analysis to be maintained, and to adopt new ratios using additional information.Read More »IFRS 17 Could Enhance Insurance Sector Analysis
By Zainab Iwayem | Nairametrics | January 7, 2022
The National Insurance Commission (NAICOM) has insisted that there is no going back on the implementation of the International Financial Reporting Standard (IFRS 17) in 2023 following concerns over loopholes in Nigeria’s approach.Read More »IFRS 17: How new reporting standard will transform insurance sector analysis
By Jason Contant | Canadian Underwriter | December 6, 2021
Project management, system implementation, and accessing resources are the biggest challenges, as the start date of the new insurance accounting standard IFRS 17 nears, Chris Cornell, partner, audit, and national sector leader, insurance, with KPMG in Canada told Canadian Underwriter in an interview for the Oct. 2021 issue.Read More »Challenges remain as IFRS 17 implementation approaches
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?
By Jason Contant | Canadian Underwriter | October 4, 2021
KPMG’s Chris Cornell says project management, system implementation, and accessing resources are the biggest challenges, as the start date of the new insurance accounting standard IFRS 17 approaches.Read More »The challenges and joys of modernization
By Fitch Ratings | July 27, 2021
EU insurers’ IFRS 17 financial statements will not be as helpful for users as they could be, as they will lack certain profitability information unless they routinely show accounting data for cohorts of contracts grouped by origination year, Fitch Ratings says.Read More »EU Insurance Accounting Less Insightful Without Cohort Splits
By Prue Moodie | INTHEBLACK | July 1, 2021 Interesting times lie ahead for insurers, who are readying for more transparency under a new accounting… Read More »IFRS 17: What you need to know
By Jason Contant | Canadian Underwriter | June 9, 2021
The majority of insurers across the globe will spend US$20 million to implement the IFRS 17 insurance accounting standard into their operations, according to a new worldwide survey by Willis Towers Watson.Read More »What insurers are paying to deliver IFRS 17: Is there any bang for the buck?
By Matt Sheehan | Reinsurance News | May 12, 2021
Analysts at Fitch Ratings have assured that the introduction of IFRS 17 is expected to have a “limited” impact on ratings and no overall changes to its view on capitalisation for most re/insurers.Read More »Limited rating impact expected from IFRS 17: Fitch