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ifrs – insurance

ifrs – insurance

kpmg’s insights on accounting change for insurers.

kpmg’s insights on accounting change for insurers.

considerable accounting changes for insurers on the way

the new insurance contracts standard, ifrs 17, aims to increase transparency and to reduce diversity in the accounting for insurance contracts. 

responding to stakeholders' concerns and implementation challenges, the international accounting standards board has proposed an effective date of 1 january 2022 for ifrs 17 – a one-year deferral – and amendments in seven important areas of the standard.

the magnitude of evolving insurance accounting change should not be underestimated. even with the extra year, many insurers need to step up the pace of their implementation. there is much that needs to be done in what is still a relatively short time.

our materials will help you understand the evolving proposals and assess the potential impact on your company. look out for further updates on this page.

 

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