Chile advances with IFRS 17 implementation plans
Bnamericas | January 12, 2021
Chile has taken a step closer to introducing the new IFRS accounting standard for insurance contracts: IFRS 17.Read More »Chile advances with IFRS 17 implementation plans
News
MetLife to Sell Car and Home Insurance Unit to Zurich for Nearly $4 Billion
By Leslie Scism and Julie Steinberg | The Wall Street Journal | December 11, 2020
Deal comes as insurers face need for scale in advertising, and technology drives changes in how they do business
Swiss insurer Zurich Insurance ZURVY -2.51% Group AG said it would acquire MetLife Inc.’s MET -0.76% car and home insurance business for $3.94 billion in cash, a move that will substantially boost the size of its Farmers business in the U.S.Read More »MetLife to Sell Car and Home Insurance Unit to Zurich for Nearly $4 Billion
South Korea:Insurance act to be amended for IFRS 17 to be adopted in 2023
Asia Insurance Review | December 07, 2020
The Financial Services Commission (FSC) has announced that it will conduct a task force to submit amendments to insurance law to the National Assembly in the first half of next year to implement the new international accounting standard FRS 17 in 2023 .Read More »South Korea:Insurance act to be amended for IFRS 17 to be adopted in 2023
FWD Insurance expands Aptitude Software adoption across Asia to prepare for IFRS 17
FWD is now closer to fulfilling its goal to build a technology platform that will go above and beyond compliance.
PRWEB, London | December 02, 2020
Aptitude Software, a leading provider of financial management software, is delighted to announce that its IFRS 17 charter client, FWD Insurance (“FWD”), has extended its relationship with Aptitude Software to expand the Aptitude footprint across its operations in Asia as it continues to prepare for the new IFRS 17 regulatory landscape.Read More »FWD Insurance expands Aptitude Software adoption across Asia to prepare for IFRS 17
RNA Analytics report explores actuarial modernisation in light of IFRS 17 and COVID-19
Intelligent Insurer | November 19, 2020
RNA Analytics, a specialist in actuarial and risk management, has launched a new report titled The Modernization of the Actuarial Function, which dissects a rapidly changing industry and the role of the actuary today.Read More »RNA Analytics report explores actuarial modernisation in light of IFRS 17 and COVID-19
MetLife considering exiting Korea
By Kim Bo-eun | The Korea Times | August 4, 2020
MetLife is plotting a possible exit from the “unattractive” South Korean market, with the company checking its worth in recent years amid an exodus of foreign insurers in the country, a source said.Read More »MetLife considering exiting Korea
First Impressions: 2020 Edition
KPMG | July 29, 2020
Among the new and updated requirements in the revised version of IFRS 17 Insurance Contracts is the new effective date of 1 January 2023. For many, there is still a lot of work to do.Read More »First Impressions: 2020 Edition
IASB issues limited scope amendments to IFRS 17
Accountancy Daily, published by Croner-i Ltd | June 29, 2020
The International Accounting Standards Board (IASB) has issued amendments to IFRS 17, Insurance Contracts, including a two-year deferral of the start date, to address concerns and implementation challenges identified following its introduction in May 2017
The amendments are effective for annual periods beginning on or after 1 January 2023 with earlier application permitted.Read More »IASB issues limited scope amendments to IFRS 17
FASB OKs two standards and delays insurance standard amid coronavirus
By Michael Cohn | AccountingToday.com | June 10, 2020
The Financial Accounting Standards Board approved Wednesday a pair of new accounting standards for convertible instruments and nonprofit gifts-in-kind, while also voting to defer the effective date of its long-duration insurance standard because of the COVID-19 pandemic, during the final meeting in FASB chairman Russell Golden’s term.
Read More »FASB OKs two standards and delays insurance standard amid coronavirus
Korea Development Bank edges closer to life sale
by Andrew Tjaardstra | Insurance Asia News | April 16, 2020
The Korea Development Bank (KDB) could be set to sell KDB Life Insurance to private equity firm JC Partners in its fourth attempt to sell the company formerly known as Kumho Life Insurance since 2014.