Guide to annual financial statements: IFRS 17 and IFRS 9
Our guide help you to prepare financial statements in accordance with IFRS. They illustrate one possible format for financial statements prepared under IFRS.
This guide is based on a fictitious multinational insurer that is not a first-time adopter of IFRS. It illustrates example disclosures for an annual period beginning on 1 January 2021, when IFRS 17 Insurance Contracts and IFRS 9 Financial Instruments are applied for the first time. It assumes that the temporary exemption from IFRS 9 was applied before 1 January 2021.
IFRS 17 is a new and complex standard, and the interpretation of its requirements is subject to ongoing discussions. This guide does not pre-empt this process. Instead, it aims to help insurers understand the disclosure requirements so that they can consider these requirements in planning their implementation project.