IFRS 17 implementation

In Insurance

IFRS 17 is the biggest insurance accounting change in decades. Our skilled team understands both the business and technical issues around IFRS 17 and can work with you to achieve compliance that’s aligned with your finance transformation programs.

What EY can do for you

While IFRS 17 poses many significant challenges for insurers, it also represents an opportunity to modernize and upgrade technology and data capabilities in finance, risk and actuarial operations. Depending on how insurers choose to approach compliance, the impact on core accounting data, systems and processes is potentially huge. 

EY teams bring deep technical and industry knowledge, and we work with you to achieve IFRS 17 compliance efficiently, strategically and in line with your finance and risk transformation programs and broader business goals. For insurers seeking a bolder approach, we go beyond compliance to automate reporting environments and integrate finance, risk and actuarial functions in ways that produce lasting value for the business.

Why choose EY as your IFRS 17 implementation partner? 

We can help you navigate the new regulatory agenda and help align your organization to drive a successful implementation by offering: 

  • Broad and deep understanding of IFRS implications for insurers
  • Focused approach in developing technology-driven targeted operating models that integrate finance and actuarial functions
  • Extensive knowledge of solution options and vendor landscape with proven approach to evaluation, selection tools and technology 
  • Alliance partnerships and collaborations with leading technology players
  • Strong track record building successful IFRS 17 solutions and integrating finance and actuarial operations
  • Diverse mix of skills and experience required for achieving compliance
  • Solution accelerators that drive time-to-value and reduce implementation risk

Read our latest accounting alerts. For a full listing, go here. 

Post-IFRS 17 implementation point of view

Market updates on impact of IFRS 17 and IFRS 9 October 2023

Market updates on impact of IFRS 17 and IFRS 9 July 2023

Market updates on impact of IFRS 17 and IFRS 9 March 2023

Disclosure of expected impacts of IFRS 17 and IFRS 9 prior to initial application November 2022

Insurance Accounting Alert December 2021

Accounting for taxes considering the impact of IFRS 17

Interim Reporting and IFRS 17 July 2021

Insurance Accounting Alert July 2021

Insurance Accounting Alert June 2020

Insurance Accounting Alert May 2020

Insurance Accounting Alert March 2020

Our latest thinking

IFRS 17 implications for European insurers

Learn more about the Insurance Accounting Standard, IFRS 17 Insurance Contracts issued by the IASB last year.

26 Feb 2021 EY Global

How IFRS 17 affects insurers

The IASB has amended guidance on the treatment of experience adjustments and the grouping of insurance contracts affected by regulatory pricing.

26 Feb 2021 EY Global

How Internal Audit plays a vital role in IFRS 17 implementation

Due to the complexity of IFRS 17, it is important that Internal Audit has a “seat at the table” throughout implementation programs.

10 Jan 2020 Kevin S. Griffith + 1
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