News

Will S. Korean Gov’t Phase in IFRS17 and K-ICS in Insurance Industry?

By Yoon Young-sil | Business Korea | July 6, 2018

Will South Korea’s financial regulator introduce the International Financial Reporting Standards (IFRS 17) and the Korean Insurance Capital Standard (K-ICS) to the domestic insurance industry at the same time in 2021? Industry watchers say a subtle change has been detected in the regulator’s stance on the matter.Read More »Will S. Korean Gov’t Phase in IFRS17 and K-ICS in Insurance Industry?

IASB proposes narrow-scope amendments to IFRS 17 Insurance Contracts

EY | July 2, 2018

IFRS 17 Insurance Contracts (IFRS 17 or the standard) represents a fundamental change to accounting practice for most entities issuing insurance contracts and is expected to require significant implementation effort.Read More »IASB proposes narrow-scope amendments to IFRS 17 Insurance Contracts

IFRS 17 – A Paradigm Shift for U.S. Actuaries

Darryl Wagner and Hui Shan | SOA | June 30, 2018

This article introduces where the IFRS17 General Measurement Model differs from US GAAP conceptually, and key aspects of this paradigm shift from an actuary’s perspective.Read More »IFRS 17 – A Paradigm Shift for U.S. Actuaries

EY: Second technical discussion of the IASB’s IFRS 17 Transition Resource Group (TRG)

EY | May 11, 2018

IFRS 17 Insurance Contracts (IFRS 17 or the standard) represents a fundamental change to accounting practice for most entities issuing insurance contracts and is expected to require significant implementation effort.Read More »EY: Second technical discussion of the IASB’s IFRS 17 Transition Resource Group (TRG)

IFRS 17 to be more costly than Solvency II

Chris Seekings | The Actuary | May 9, 2018

The overwhelming majority of UK insurers believe the incoming reporting standard IFRS 17 will be more costly than the Solvency II directive, new research has found.Read More »IFRS 17 to be more costly than Solvency II

Deloitte: A Summary of May’s IFRS 17 TRG Meeting

Deloitte | May 9, 2018

During the meeting, which was held on 2 May, the TRG discussed six key papers relating to:Read More »Deloitte: A Summary of May’s IFRS 17 TRG Meeting

Applying IFRS 17 – A closer look at the new Insurance Contracts standard

EY | May 4, 2018

IFRS 17 is the IASB’s new insurance contracts standard. EY shares the detailed explanations about IFRS 17. Click here to read the document.Read More »Applying IFRS 17 – A closer look at the new Insurance Contracts standard

Allianz gets regulatory nod to sell part of Taiwan unit’s business to China Life

By Asia Asset Management | March 2, 2018

German insurer Allianz Group (Allianz) says it has received regulatory approval to sell part of the life insurance portfolio of its Taiwanese subsidiary, Allianz Taiwan Life (AZTL), to China Life Insurance Company (China Life).

First technical discussion of the IASB’s IFRS 17 Transition Resource Group (TRG)

EY | February 14, 2018

IFRS 17 Insurance Contracts (IFRS 17 or the standard) represents a fundamental change to accounting practice for most entities issuing insurance contracts and is expected to require significant implementation effort.Read More »First technical discussion of the IASB’s IFRS 17 Transition Resource Group (TRG)

The IFRS 17 accounting model in one page

IASB | January 17, 2018

IASB publishes a simple one-page summary of the accounting model in IFRS 17 Insurance Contracts. This summary will help stakeholders understand different elements of the model and how they will be displayed on a company’s balance sheet and in its profit or loss statement.Read More »The IFRS 17 accounting model in one page

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