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Insurance contracts accounting under IFRS, March 2008

In May 2007, the International Accounting Standards Board (IASB) published their proposals for the future reporting of insurance contracts. By 7th March 2008, 161 formal responses have been lodged with the IASB and this publication summarises the key points emerging from those responses. Implications of the parallel development of Solvency II regulatory proposals in Europe and the potential involvement of the FASB in a joint project are also discussed.