The IASB’s insurance contracts project aims to increase transparency and to reduce diversity in the accounting for insurance contracts. The final standard is expected to be published in the first half of 2017 and it would be applied 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.
IFRS insurance contracts standard will have far reaching impacts for life and P&C insurers and reinsurers.
Through illustrative examples using one of the components of a complete set of IFRS financial statements.