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Impacts of IFRS 17

    EY | November 8, 2017

    Across the globe an unprecedented wave of new reporting and regulatory requirements are driving changes that are significantly impacting the way insurers manage their business. The new financial reporting standard IFRS 17 will undoubtedly represent the most significant change to insurance accounting requirements in over 20 years.Read More »Impacts of IFRS 17

    International Financial Reporting Standards for Insurers – IFRS 17

      ASHK seminar | September 11-12, 2017

      Twenty years in the making, the IASB published IFRS 17 on May 18. IFRS 17 will radically change financial reporting for insurers and all actuaries working in the insurance field will need to be familiar with the new framework. For the second year, the Actuarial Society of Hong Kong is proud to present a seminar on IFRS for insurers aimed specifically at actuaries in Asia. This seminar is specially designed for actuaries who are responsible for financial reporting in compliance with the International Financial Reporting Standards (IFRS) or who need to be familiar with IFRS reporting as part of their work.Read More »International Financial Reporting Standards for Insurers – IFRS 17

      Back to the Beginning

        Henry Siegel | The Actuary Magazine, SOA | July 12, 2017

        The creation story of IFRS 17 for insurance contracts

        Author’s Note: This is a condensed history of the International Accounting Standards Board’s (IASB’s) Insurance Contracts project. Not every issue is discussed completely herein or in some cases at all, nor is every milestone noted. For a more complete history, visit the IASB website.Read More »Back to the Beginning

        PwC: IFRS 17 marks a new epoch for insurance contract accounting

          PwC | June 30, 2017

          In May 2017, the International Accounting Standards Board (IASB) issued IFRS 17, ‘Insurance Contracts’, and thereby started a new epoch of accounting for insurers. Whereas the current standard, IFRS 4, allows insurers to use their local GAAP, IFRS 17 defines clear and consistent rules that will significantly increase the comparability of financial statements. For insurers, the transition to IFRS 17 will have an impact on financial statements and on key performance indicators.Read More »PwC: IFRS 17 marks a new epoch for insurance contract accounting

          Scope of IFRS 17

            IASB | June 22, 2017

            A recorded webinar is available introducing the recently issued IFRS 17 Insurance Contracts by considering the scope of the Standard. The webinar presenters are Joanna Yeoh and Andrea Pryde, insurance contracts team members.Read More »Scope of IFRS 17

            Milliman: Transition to IFRS 17

              Milliman | June 19, 2017

              The transition to IFRS 17 involves significant changes in the measurement and presentation of insurance contract liabilities. This paper discusses the possible approaches to transition and the main challenges that (re)insurers will face during the transition to IFRS 17. Careful steps are needed to be well-prepared for this important accounting policy change.Read More »Milliman: Transition to IFRS 17

              APAC IFRS 17 webcast – Implementation challenges and opportunities for insurers in Asia-Pacific

                EY | June 16, 2017

                Ernst & Young gave an IFRS 17 webcast on 13 June 2017. During the webcast Conor Geraghty, Practice Fellow at the IASB, and experienced EY specialists shared the basic principles of the new standard and explained the key differences with the old standard, including the significant impacts on presentation and disclosures in the new financial statements, plus potential implications for reporting metrics and business value drivers. The webcast also explored some of the key implementation challenges and opportunities for Asia-Pacific insurers.Read More »APAC IFRS 17 webcast – Implementation challenges and opportunities for insurers in Asia-Pacific