Welcome to our December Insurance newsletter! Many of you will have joined us at our 24th Annual Insurance Issues Conference at the end of last month and this picks up some of the important themes that we presented there.
We start off with two items focused on accounting change – firstly we are pleased to share Opening the black box – demystifying IFRS 4 Phase 2. We’ve been saying for some time that the new accounting standard for insurers will represent a significant change, both in terms of financial results and finance operating model. A core component of these changes are the presentations and disclosures. This publication aims to help insurers understand what is required of them and so help them plan for implementation more effectively. Secondly our New on The Horizons publication comments on the amendments proposed to IFRS 4 to enable the deferral of IFRS 9, Financial Instruments for many insurers. This is an important amendment to enable many insurers to tackle one major program of accounting change. Read more.
Location