CEIOPS Letter on IASB's Insurance Project - Phase II

20 November 2006

CEIOPS issued its response to the IASB Insurance Project. CEIOPS is concerned among others to include a profit margin on top of the best estimate and the risk margin with regard to the valuation of insurance liabilities under Phase II.

Concerning the disclosure requirements, CEIOPS believes that there should be as much consistency as possible between accounting standards and Pillar III public disclosure requirements to avoid duplication.

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