IFRS 17 Insights | KPMG | UK

IFRS 17 Insights

IFRS 17 Insights

A fresh perspective on insurance accounting.

A fresh perspective on insurance accounting.

Published in May 2017, the IFRS 17 insurance contracts' accounting standard conveys greater comparability and transparency for investors and analysts.

For insurers, the introduction of the new standard brings both benefits and challenges. Insurers will need to gain an understanding of the accounting changes and its impacts on their businesses.

To help insurers navigate their way to implementing IFRS 17 by January 2021, our IFRS 17 Insights page has useful links and reports – the latest of which is Navigating change.

Launched in December 2017, our global benchmarking report examines the feedback received during September and October 2017 from more than 80 insurers, drawn from over 20 countries, on their IFRS 17 and 9 preparations. Another useful resource is our February 2018 launched Illustrative disclosures, presenting one format for financial statements prepared under IFRS 17 and IFRS 9.

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