IFRS 17 Insurance

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 January 1, 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.