The FRC encourages insurers to participate in an EFRAG case study on IFRS 17

09 February 2018

IFRS 17 Insurance Contracts was published in May last year. The standard will be effective from January 2021.

In November 2017 EFRAG sought a small number of insurers to participate in a large detailed case study. By launching this simplified case study, EFRAG is reaching out to insurers that may not be able to provide in-depth information, but can provide some insight on the expected impact of IFRS 17.

Insurers who use IFRS voluntarily or on a mandatory basis are invited to participate. The case study seeks qualitative and quantitative information. Insurers can select the questions they are able to answer.
All information submitted to EFRAG will be treated as confidential. Responses to the case study are due by 31 May 2018.
 
The FRC will hold an outreach event on IFRS 17 in the spring. The FRC wants to discuss with constituents the possible benefits and key challenges of adoption in the UK. Further details on this event will be published shortly.

Full press release

 

© FRC