IFRS insurance contract consulting

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The new IFRS standard for Insurance Contracts is very challenging for insurers on an operational and strategic level. Its implementation requires the right combination of modelling and actuarial skills.

At present, IFRS has no comprehensive standard that deals with the accounting for insurance contracts. IFRS 4, published in 2004, is an interim Standard that provides disclosure requirements, but permits a wide range of practices and includes a ‘temporary exemption’. The IAS Board is, however, currently nearing the end of its project on insurance contracts.

Income statement

IFRS4 is a major actuarial challenge

The new IFRS standards for insurance contracts require close attention in order to have an accurate and performing IFRS reporting process in time.

Learn why