General Insurance Article - One year final delay for IFRS17


The IASB staff have proposed to the IASB that January 1 2023 be the effective date of the IFRS 17 Insurance Contracts standard.

 This presents a one-year delay to the date proposed in the June 2019 Exposure Draft Amendments to IFRS 17. 

 Ralph Ovsec, Senior Director, Insurance Consulting and Technology, at Willis Towers Watson, said: "We believe this proposal by the IASB staff was considered after discussion with the IASB members, and we therefore believe that the IASB will accept this proposal. The IASB will discuss this on 19 March 2020, and we will provide an update at that time.

 “We also believe this will address the implementation challenges faced by insurers, and we believe companies should continue to press forward at current pace and use this additional time to strengthen their processes and procedures."
  

Back to Index


Similar News to this Story

Sleighing the risks by giving Santa the insurance he needs
While you might be the most magical employer in the world, we know that even you aren’t immune to the risks of running a global delivery service! From
Diversity improving in insurance and long term savings
Key figures from the Association of British Insurers’ latest Diversity, Equity and Inclusion (DEI) data collection highlight the work of insurers and
Almost a third of homeowners have been victims of burglaries
Research commissioned by Co-op Insurance reveals that almost one in three (29%) homeowners have been the victims of theft from their home. The member-

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.