IFRS 17 marks a new epoch for insurance contract accounting

Jul 2017

In May 2017, the International Accounting Standards Board (IASB) issued IFRS 17, ‘Insurance Contracts’, and thereby started a new epoch of accounting for insurers. IFRS 17 defines clear and consistent rules that will significantly increase the comparability of financial statements. For insurers, the transition to IFRS 17 will have an impact on financial statements and on key performance indicators.

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Lars Nielsen

Hong Kong Insurance Leader, PwC Hong Kong

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Partner, PwC Hong Kong

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