IFRS – Insurance | KPMG | GLOBAL

IFRS – Insurance

IFRS – Insurance

KPMG’s insights on accounting change for insurers.

KPMG’s insights on accounting change for insurers.

Considerable accounting changes for insurers on the way

The new insurance contracts standard, IFRS 17, aims to increase transparency and to reduce diversity in the accounting for insurance contracts. The final standard was published in June 2017 and will apply for annual periods beginning on or after 1 January 2021.

The magnitude of evolving insurance accounting change should not be underestimated, particularly when considering the impact of the new financial instruments and revenue standards. If insurers start planning now, the wave of change could open up opportunities for synergies.

Our materials will help you understand the evolving proposals and assess the potential impact on your company. Look out for further updates.

 

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IFRS 15 for insurers

Insurers should prepare for the impact on their business of the new revenue standard.

 
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Opening the black box – Demystifying IFRS 4 Phase 2

Through illustrative examples using one of the components of a complete set of IFRS financial statements.

 
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Mapping your insurance accounting change program

Reaching the best outcome requires a ‘living plan’ with defined objectives, clear accountabilities and realistic timelines

 
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Navigating the new world: Preparing for insurance accounting change

IFRS insurance contracts standard will have far reaching impacts for life and P&C insurers and reinsurers.

 
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