An archive of articles and reports on IFRS / accounting change and its impact on the insurance industry.
2012 Publications
European insurance tax briefing (October 2012) The first briefing in our new insurance tax series examines operational taxes and how to improve investment returns through efficient withholding-related tax planning.
IFRS 10 Consolidated Financial Statements In May 2011, the International Accounting Standards Board (the IASB) issued IFRS 10 Consolidated Financial Statements, which becomes effective for annual periods beginning on or after 1 January 2013. IFRS 10 must be applied retrospectively. Find out what you need to know to prepare accordingly.
Key components of discount rates for insurance contracts The IASB and FASB both issued proposals for a new recognition and measurement model for insurance contracts in 2010. Both require the use of current discount rates that are consistent with observable market prices for instruments whose characteristics reflect those of the insurance contract liability. How will this affect insurers? Find out here.
IASB proposes to move IFRS 9 date to 2015 The IASB has published an ED proposing to defer the mandatory effective date of IFRS 9 to annual periods beginning on or after 1 January 2015. How might this impact insurers like you? We explain.
2011 Publications
Implementing IFRS 4 Phase II with IFRS 9 and Solvency II The size and complexity of the multi-year implementation of IFRS 4 and IFRS 9 is expected to impact companies fundamentally. Given the potential synergies and differences, the time to address these issues is now. See our implementation and project management considerations from an IFRS 4 Phase II and IFRS 9 perspective.
The impact of IFRS 9 on insurers The development of a new standard to replace IFRS 4 Insurance Contracts and the publication of IFRS 9 Financial Instruments by the IASB will profoundly change accounting for insurers. Use this publication to gain insights into the expected impact so you can plan accordingly.
Solvency II: Pillar III and IFRS 4 Insurers face additional challenges around data, systems changes and the need to upgrade and speed up reporting processes to meet the requirements of Pillar III. Are you prepared? Inside, we identify the key issues, an implementation framework and critical success factors for addressing IFRS 4 Phase II alongside Solvency II.
Continuing the debate: a digest of the letters commenting on the Insurance Contracts EDs Survey presents the most commonly expressed views in comment letters and gives an indication of the clustering of perspectives on Insurance Contracts.
Getting up to speed Solvency II data and systems Explores how insurance organizations should adapt data and systems to account for Solvency II and Phase II of the development of IFRS 4 Insurance.
Synchronizing IFRS 9 and IFRS 4 Phase II for Insurers Understand the impact of IFRS 9.
2010 Publications Good Insurance September 2010 Consolidated financial statements of a fictitious company, Good Insurance (International) Limited, Illustrative financial statements for the year ended 31 December 2010.
Presentation and disclosures This publication provides an overview of the presentation model and specific disclosures required by theIASB's exposure draft on insurance contracts.
2009 Publications
IFRS Revenue recognition in Insurance contracts This thought leadership paper presents our perspective on the impact of proposed new revenue recognition standards on insurance contract accounting.
2008 Publications
IFRS 7 in the insurance industry
Standard production costs for insurance contracts Discussion on relevant and faithful reporting of the amount, timing and uncertainty of future cash flows from insurance contracts.
