Insurance Agenda 2014
Welcome to the first edition of
Insurance Agenda for 2014.
In the past decade, insurance companies have experienced a number of dramatic shifts. As a result, we are seeing new challenges and opportunities present themselves in the Asia-Pacific region. In this edition of Insurance Agenda, we explore how insurers can achieve profitable growth in 2014 while managing the continual evolution of the insurance sector in 2014 Asia-Pacific insurance outlook: continuous evolution.
Also in this edition, we examine the operational impacts of the proposed new accounting standard for insurance contracts, issued in June 2013 by the International Accounting Standards Board (IASB) in IFRS 4 Phase II: Operational impacts.
The comment period for IFRS 4 has now closed and the new reporting requirements will require companies to put in place implementation plans which will impact internal operating processes and systems, as well as the external presentation of results to capital markets. The new insurance accounting standard will affect insurers globally, and EY Australia's insurance specialists are available to discuss the changes from an Australian perspective, and how they will affect your business.
And finally, we consider how elements of profound regulatory, macroeconomic and consumer change have shifted the opportunity horizon and risk outlook in our new report, Waves of change: The shifting insurance landscape in rapid-growth markets.
I hope that you find the materials included in this edition of Insurance Agenda to be insightful and thought provoking. Please feel free to request a copy of any of these publications and, as always, we welcome your feedback and enquiry on any of these topics.
Oceania Sector Leader Insurance
Tel: +61 2 9248 4491