General Insurance Article - PwC comment on the IASB update on IFRS 17


PwC comment on the International Accounting Standards Board’s (IASB) publication of the Amendments to IFRS 17 Insurance Contracts

 Alex Bertolotti, global IFRS 17 leader at PwC, said: “The publication today of the amendments to IFRS 17 closes the long-running development of IFRS 17 by the IASB. We welcome the practical benefits that these amendments provide in easing insurers’ implementation of the significant changes brought about by IFRS 17. Insurers can now focus their efforts on refining their implementation projects and deciding how they will use IFRS 17 to tell a clearer and more understandable story about their business.
 
 “IFRS 17, as amended, will be effective for annual periods beginning on or after 1 January 2023, with earlier application permitted. Insurers using the temporary exemption from applying IFRS 9 will apply IFRS 9 from the same date.”

Back to Index


Similar News to this Story

Call for simplification of EU cybersecurity regulation
Insurance Europe has welcomed the European Commission’s review of the Cybersecurity Act (CSA) and the forthcoming digital omnibus initiative, supporti
7 California wildfire lessons learnt for European insurers
The devastating January 2025 wildfires in Los Angeles, which destroyed over 16 000 structures and caused insured losses of approximately USD 40 billio
Do not be left high and dry this summer
Aviva is urging caution as data reveals a correlation between warm weather and fire claims. Number of garden fire claims is already significantly high

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.