Insurers are grappling with the myriad technical and operational demands of implementing IFRS17, but what of the investors or users of financial information, who after all are supposed to be one of the main beneficiaries of the overhaul? How well do they understand what it means and how can insurers best prepare to open up the dialog with their investors?
To shine more light on this, KPMG has captured the thoughts of insurance analysts round the world in a report, Can you see clearly now? to be issued shortly to gauge their views on insurance accounting as it is now and what new insights they expect IFRS 17 to deliver. This explores investor expectations on opening the ‘black box’ of insurance accounting – do they really expect greater transparency, comparability and insights? As the implementation date draws nearer, do they feel that they are receiving sufficient information on the changes, both from insurers and more widely? And how can insurers prepare to communicate the value their business creates on an IFRS17 basis.
Following this webcast, participants should be able to explain at a high level:
Date: Monday, 10 December 2018
Time: 9:00am (EST)/2:00pm (GMT)/3:00pm (CET)
This webcast will last approximately 60 minutes.
KPMG member firms’ approach to implementing IFRS 17 and IFRS 9 is distinctive, recognizing that this is more than just a technical accounting and actuarial issue, providing the opportunity for insurers to streamline their processes and ensure clear and concise communication to shareholders, investors and other key stakeholders.