Many insurers have used the temporary exemption from applying IFRS 9 Financial Instruments and have instead continued to apply the predecessor standard IAS 39 Financial Instruments: Recognition and Measurement. However, this exemption will no longer apply when IFRS 17 Insurance Contracts becomes effective – i.e. for annual periods beginning on or after 1 January 2023 – and that time is approaching fast.
Our publication IFRS 9 for Insurers – Are you good to go? considers some of the key accounting issues that insurers need to focus on to get to the finish line. It offers practical examples, analysis and insight on the scope requirements; classification and measurement; impairment; hedging; transition; and presentation and disclosure under IFRS 9.
Get in touch
For further information on IFRS 17 implementation, please contact Brian Morrissey or Niall Naughton of our Insurance team. We'd be delighted to hear from you.
