I’ve had the privilege to straddle life insurance and non-life insurance (P&C, general, short term insurance, take your pick of terms) in my career. On balance, I think having significant exposure to both has increased my knowledge in each rather than lessened the depth of my knowledge in either. I’ve been able to transport concepts…
Quite a few people have asked me where to find the actual re-exposure draft of IFRS4. It seems to be easier to google for it than navigate the ifrs.org website, so here is the link to the page that includes the IFRS4 re-exposure draft background and the exposure draft itself.
A client recently mentioned that they were concerned about the implication that the adoption of Solvency Assessment and Management (SAM) would have on insurance accounting under current IFRS4. The apparent concern was that measurement of policyholder liabilities for IFRS reporting would change to follow SAM automatically. Let me start out by saying this is categorically…
So, as I expected given the fundamental changes to IFRS 4 in recent months, the IASB is doing the grown-up thing and is re-exposing the latest version of the insurance accounting standard later this year early next year. They are restricting questions to areas that have changed or where final decisions haven’t been made, which…
