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How prepared are emerging market insurers for IFRS 17?

    By Oxford Business Group | 2022-07-13

    – New international accounting standards to be implemented in January 2023
    – While a positive step, their application could pose challenges for emerging markets
    – Countries with more mature financial industries are better prepared for the transition
    – In some cases, insurance companies rather than regulators are driving the change

    As insurance companies prepare for the most significant change in global accounting standards in close to two decades, how well prepared are operators in emerging markets for the transition?Read More »How prepared are emerging market insurers for IFRS 17?

    South Korea: Authorities allow insurers a buffer to withstand falling local RBC ratios

      By AIR team | June 13, 2022

      In response to insurance companies’ declining risk-based capital (RBC) ratios following interest rate hikes causing an expanded level of losses on the valuation of bonds, the authorities have prepared a measure for providing a buffer to release a portion of surplus that insurance companies may recognise as available capital for calculating RBC ratios, says the Financial Services Commission (FSC) in a statement.Read More »South Korea: Authorities allow insurers a buffer to withstand falling local RBC ratios