PwC's annual report for a life insurance group is a practical guide to UK accounting law and best practice for insurers preparing their financial statements in accordance with the requirements of The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 relating to insurers and the Association of British Insurers' Statement of Recommended Practice on Accounting for Insurance Business. The illustrative annual report considers the requirements of relevant accounting standards, Urgent Issues Task Force Abstracts and other UK Generally Accepted Accounting Principles (GAAP).
The latest updated version is prepared as at 31 December 2013 and reflects the accounting requirements at that date.
This report can be used by preparers, reviewers and users of insurers' financial statements. It is worth noting that the suggested disclosure throughout is intended for guidance only and would not be applicable to all groups or to all companies.
If you wish to discuss any aspect of insurance financial reporting, please contact the author, Mike Vickery, +44 (0) 117 923 4222, or your usual PwC contact.