IFRS 17 is the biggest shake up of insurance reporting for decades, impacting all insurers reporting under IFRS. The final Standard was released in May 2017 and applies separately to all insurance and reinsurance contracts. It will be effective from 1 January 2021 with prior year comparative reporting required. The IASB’s aim is to provide more transparency and comparability compared to current accounting standards and this means big changes for the way that financial information will be presented. The Standard is complex and adoption will require adequate planning. Download our brochure which will help you understand why general insurers need to act now – helping you to understand the impact on your organisation, maximise the value from your implementation project and minimise disruption to your business.
IFRS Global Insurance Technical Leader, PwC United States
Tel: +44 (0) 20 7212 3867