Insurance companies play a fundamental role in the success of the global economy, which is why it’s imperative that everyone knows what the individual risks are. That’s why the International Accounting Standards Board has issued IFRS 17. It’s designed specifically for the insurance sector, and it will come into force on 1 January 2021.
Insurers will need to report at a more granular level, on how new insurance contracts are affecting their financial outlook and risk exposure.
This whitepaper sheds light on what IFRS 17 means for insurers, how it will impact their financial reporting processes and what they can do now to prepare for the new international standard.
• Meeting the requirements of IFRS 17.
• Achieving compliance.
• Complementing your current systems.
• Making the bridge.