The impact of IFRS 7 and revised IFRS 4 on insurers' financial reporting
Welcome to the 20th in a series of papers dedicated to discussing International Financial Reporting Standards (IFRS) and their impact on insurers and the users of their accounts.
This paper examines key changes to IFRS risk reporting, under which insurers will be required to set out how management itself perceives, measures and manages risk. The changes offer well-run insurers an opportunity to demonstrate the strengths of their risk management more forcibly at a time when analysts and investors are taking an ever-keener interest in the impact of risk on financial performance. To realise this opportunity, however, companies will need to address potentially complex and arduous implementation and communication challenges.
