Reinsurance under IFRS 17: Many devils in the details
The new IFRS 17 standard for the accounting of insurance contracts is mandatory for IFRS accounts from this year onwards. In the time since its publication, we discovered that it…
The new IFRS 17 standard for the accounting of insurance contracts is mandatory for IFRS accounts from this year onwards. In the time since its publication, we discovered that it…
IFRS 17, the new standard for ‘insurance contracts’, becomes effective from 1 January 2023. What are the key changes of the transition from IFRS 4 to IFRS 17, and how will the financial information presented by insurance companies change in the new year?
The International Accounting Standards Board (IASB) has made a series of tentative decisions to change eight areas of IFRS 17. Those amendments that are likely to be most relevant for Australian insurers are discussed below.
This article reports on the new AASB 17 Insurance Contracts Information Note, released on 8 March 2018, to support actuaries in Australia and NZ in the application of IFRS17.