By January 1, 2023, insurers are expected to significantly change their accounting models, transitioning to follow International Financial Reporting Standards 17 (IFRS 17) and the FASB’s Targeted Improvements for Long-Duration Contracts (LDTI) requirements. Insurers face complex challenges to operationalize this fundamental change and navigate the multitude of issues.
Our professionals have collaborated across accounting, actuarial, finance, and technology disciplines to provide practical insights and tools here on the Insurance Accounting Change Hub to help insurers through this accounting change transition.
Targeted Improvements for Long-Duration Contracts (LDTI)
Popular category topics
People & organizational impacts of insurance accounting change
Getting ready for Business as Usual (BAU)
Insurance accounting change risk and control considerations
US GAAP long-duration targeted improvements
Handbook: Long-duration contracts
Latest edition: Our updated guide for long-duration contracts, with Q&As, interpretive guidance and examples.
Insights for the future
Preparing for LDTI
LDTI Insurance accounting change
ASU 2018-12 Long Duration Targeted Improvements (LDTI)
Survey shows analysts’ expectations about financials after LDTI
As insurers prepare to adopt the new standard, KPMG survey reveals what analysts want to learn about life insurers’ financials
Illustrative disclosures for insurers adopting ASU 2018-12
The KPMG LDTI Illustrative Disclosures Guide presents one possible format for financial statements of a life insurer applying the requirements of ASU 2018-12
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IFRS 17 applies to non-insurers. Discover if you are impacted, learn the steps to apply scoping, and find the available exemptions and elections.
Your essential guides to preparing financial statements under IFRS 17 and IFRS 9
IFRS 17 has created an opportunity for insurers to consider transforming their finance and actuarial systems, processes and controls.
Choosing how to treat prior period accounting estimates will affect financial performance