IFRS 17 Challenges For Reinsurance

Tuesday, August 8th, 2023

Michael Winkler, actuary, and Sunil Kansal, head of consulting at Shasat, shed light on the intricacies of implementing IFRS 17 Insurance Contracts and the resulting mismatches in financial reporting

The new IFRS 17 standard for the accounting of insurance contracts is mandatory for IFRS accounts from this year onwards. In the time since its release, we all learned that it creates significant challenges in re-assessing margin expectations and reflecting the outcome in the financial statements. As we will show in this article, this applies in particular to ceded reinsurance – an area not so many companies have paid enough attention to so far.

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