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Insurance contracts: Are you ready? - EY - Global

Insurance contracts - How prepared are you?Business implicationsHow prepared are you?How we can help? Insurance contracts tools

March 2015:
IASB continues its discussions on participating contracts
March 2015:
FASB makes final changes to proposal on short-duration insurance contract disclosures
February 2015:
IASB discusses transition relief for application of the new insurance contracts standard (after the implementation of IFRS 9)
February 2015:
IASB discusses level of aggregation for insurance contracts
August 2014:
FASB to issue final guidance on short-duration insurance disclosures
July 2014:
IASB discusses discount rates and reinsurance contracts
June 2014:
FASB decides to require additional disclosures
May 2014:
IASB confirms the use of insurance contracts revenue
April 2014:
FASB lays out topics it will consider
February 2014:
IFRS 9 discussions continue
February 2014:
Boards discuss comment letter responses
April 2013:
Boards discuss allocation of insurance contracts revenues
January 2013:
End-of-year talks clarify decisions on contracts, residual margins
November 2012:
IASB and FASB continue to deliberate
October 2012:
Boards discuss recognition of acquisition costs
August 2012:
Boards decide on allocation of cash flows
June 2012:
Boards review OCI, unbundling and recognition of acquisition costs
May 2012:
Boards discuss reinsurance, insurance contracts, and policy loans and riders
April 2012:
Boards agree on separation of investment component
March 2012:
Boards make decisions on the premium allocation approach
February 2012:
Boards debate premium allocation approach
December 2011:
Boards discuss onerous contract testing and measurement of options and guarantees

Our lastest insights

EY - Comment letters on the insurance contracts proposal Comment letters on the insurance contracts proposal

Numerous comment letters were submitted to the Financial Accounting Standards Board regarding their proposed Accounting Standards Update. Our report highlights key themes from those letters.

EY- IASB revised Exposure Draft released IASB revised Exposure Draft released

The revised ED for Insurance Contracts is a major milestone toward global consistency of reporting for insurers. Read our special alert about the big news.

EY- FASB releases Exposure Draft on insurance contracts image FASB releases Exposure Draft on insurance contracts

The proposed model will affect insurance contracts significantly and will apply to all insurance contracts, including those issued by non-insurance entities such as banks.

Getting started with new accounting models

North American insurers shifting to market-consistent frameworks can turn to their European counterparts for immediately applicable lessons.

FASB's proposed changes to accounting for insurance contracts

The FASB's Exposure Draft (ED) is closer than some may think, and the implications for US insurers are far-reaching and impactful. Learn how to prepare.

Facing the challenge

The business implications of implementing IFRS 4, 9 and Solvency II.

Good Insurance (International) Limited
An illustration of common IFRS-based disclosures.

IFRS 10 Consolidated Financial Statements

A single control model that may impact what an insurer consolidates from 1 January 2013.

Key components of discount rates for insurance contracts

The IASB and FASB issued proposals for a new recognition and measurement model for insurance contracts in 2010. How will this affect insurers?




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