FIS has won the award for best IFRS 17 solution of the year for the second year in a row. It impressed judges with the supercharging of its FIS Insurance Risk Suite, ahead of the rollout of new ...

PETALING JAYA: Although the exposure draft on phase II of International Financial Reporting Standard (IFRS) 4 Insurance Contracts is expected to create some challenges for insurers in adopting the new ...

The transition to the International Financial Reporting Standard 17 (IFRS 17), which affects insurance contracts, remains a challenge for firms as it is a radical departure from current accounting ...

The International Accounting Standards Board has published a proposed set of changes to insurance contract accounting in an effort to impose a single standard upon all insurers in all jurisdictions ...

Beazley plc (BEZ.L), is the parent company of specialist insurance businesses with operations in Europe, North America, Latin America and Asia. Beazley manages seven Lloyd's syndicates and, in 2022, ...

While a new key performance indicator (KPI) under IFRS 17 was intended to replicate the well-known combined ratio, this equivalence might not hold true in practice when all components and complexities ...

Here’s how it all started. The history of International Accounting Standards (IAS, or international GAAP, or generally accepted accounting principles) goes back to 1967, when a study group was ...

IFRS 17 will change the presentation of company results in 2023 Q1, eliminating one standard property and casualty insurance financial metric completely, and subtly affecting how combined operating ...

One of the basic features of IFRS is that it is a principle-based standard, unlike US GAAP, which is rule based. IFRS involves extensive use of judgement in selection of appropriate accounting ...

THE Insurance and Pensions Commission (Ipec) says insurance firms are still finding it difficult to comply with International Financial Reporting Standard 17 (IFRS 17) implementation requirements, ...