Insurers - Illustrative disclosures

Our Guides to financial statements help you to prepare financial statements in accordance with IFRS® Accounting Standards. 

For insurers, we have two guides containing illustrative disclosures for a fictitious multinational insurer that applies IFRS 17 Insurance Contracts and IFRS 9 Financial Instruments:

• before initial application: a supplement illustrating pre-transition disclosures required by IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors in the 2022 financial statements; and
• in the period of initial application: illustrative financial statements for an annual period beginning on 1 January 2023, when IFRS 17 and IFRS 9 are applied for the first time.

Financial reporting in uncertain times

Many insurers are likely to be facing challenges in these uncertain times. External events such as COVID-19, natural disasters and geopolitical events such as the Ukraine–Russia conflict and inflation are just some of the major issues driving global economic uncertainty today.

Preparers should carefully evaluate and consider the impact of external events on their 2022 financial reporting and provide relevant company-specific disclosures.

Our Financial reporting in uncertain times resource centre includes articles, blogs and podcasts to help you better understand the accounting and disclosure implications for your company.

Climate change and financial reporting

All companies are facing climate-related risks and opportunities and are making strategic decisions in response – including around their transition to a low-carbon economy.

Our Climate change financial reporting resource centre provides FAQs to help companies identify the potential financial statement impacts for their business.

Also, the International Sustainability Standards Board (ISSB) has published a proposed climate-related disclosures standard. For more on this and related developments, see our Sustainability reporting web page.