Reinsurers’ IFRS 17 struggles are a reminder that one size does not fit all

The IASB issued IFRS 17 in a bid to standardize insurance contract accounting, but reinsurance firms, because of their particular idiosyncrasies, will struggle to comply. Unless the IASB makes significant modifications to the standard, reinsurers everywhere will have to reassess the nature of their life insurance contracts.

Insurance
Standard setting

IFRS 17 is the latest instalment

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