The European Insurance and Occupational Pensions Authority (EIOPA) recently released a report examining the implementation of the new insurance accounting standard, IFRS 17, in the EU. The report evaluates the adoption of IFRS 17 by insurance undertakings and compares the calculation of insurance liabilities under IFRS 17 with the Solvency II framework.
The UK’s Financial Reporting Council (FRC) recently shared its insights into companies’ initial application of IFRS 17, which marked a shift in insurance contract accounting. The thematic review assesses interim financial statements from ten companies, offering a nuanced view of their IFRS 17 disclosures.
The European Insurance and Occupational Pensions Authority (EIOPA) has published a feedback statement on open insurance following a discussion paper and a public consultation, summarising stakeholder responses and EIOPA’s reactions.
A shared reporting framework is crucial in producing comparable data – but it may not be sufficient if its application on the ground varies, such as in how values are calculated.
The US National Association of Insurance Commissioners (NAIC) has announced a new framework requiring insurance companies to report their climate-related risks, in alignment with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD).
The European Insurance and Occupational Pensions Authority (EIOPA) has published an Opinion urging the disclosure of individual results of insurance stress tests.
The European Insurance and Occupational Pensions Authority (EIOPA) has launched a public consultation on retail investor protection, with an interesting discussion on enhancing investor engagement with disclosures, and in particular the benefits of digital disclosures.
The European Insurance and Occupational Pensions Authority (EIOPA) has published today its revised Guidelines on the Legal Entity Identifier (LEI).
The European Insurance and Occupational Pension Authority (EIOPA) has launched a consultation on draft application guidance on carrying out assessments of climate change materiality and using climate change scenarios in the Own Risk and Solvency Assessment (ORSA).
We missed some important news back in September, when the European Commission announced a comprehensive ‘review package’ of Solvency II rules.
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