The International Financial Reporting Standard (IFRS) 17 requires liability cash flows to be discounted at rates that reflect the characteristics of the cash flows, including their liquidity
With the IFRS 17 accounting standard, insurers need to understand the patterns of profit emergence that arise under the standard, and how current business and methodology decisions affect such patterns.
This paper forms part of a series of high-level papers designed to provide an introduction to different features of the risk adjustment that should be considered in advance of implementation.
Low levels of insurance and reinsurance penetration in Southeast Asia and the South Pacific mean the extreme weather both regions experienced last month will place a major strain on the availability of government aid, Aon Benfield said yesterday.
The coalition government remains committed to introducing a better, simple, single state pension and tying in the pension age to increases in longevity, Prime Minister David Cameron and Deputy Prime Minister Nick Clegg said today.
Eurozone insurers profits are expected to begin a slow recovery this year but will still be less than half their 2007 peak by 2016, Ernst & Young said today.
Official figures, which revealed that 2012 was the second wettest year in the UK since records began, show how big a concern flood risk is for insurers, according to Deloitte.
The stock market gains resulting from this weeks fiscal cliff deal came too late to improve defined benefit pension scheme funding positions in companys annual accounts but show how market volatility can present opportunities for schemes, Towers Watson said yesterday.
Larger defined contribution pension schemes are significantly more likely to display the features needed to deliver the best retirement outcomes for savers than smaller schemes, according to research published by The Pensions Regulator today.
