IFRS 17 – Insurance Contracts

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IFRS 17 – Insurance Contracts

Insurance companies have been waiting nearly two decades for a single global accounting standard that fits their unique and complex industry. The aim of IFRS 17 is to standardise insurance accounting globally to improve comparability and increase transparency, and to provide users of accounts with the information they need to meaningfully understand the insurer’s financial position, performance and risk exposure.

IFRS 17 goes beyond a change in accounting policy. It will impact a Company’s financial performance, operating model and other areas of the business such as product pricing, remuneration policies and financial planning. We have seen it before and have experience in delivering successful large scale regulatory change programmes within Financial Services.

IFRS 17 goes beyond a change in accounting policy. It will impact a Company’s financial performance, operating model and other areas of the business such as product pricing, remuneration policies and financial planning. We have seen it before and have experience in delivering successful large scale regulatory change programmes within Financial Services. For more information on our Actuarial Modelling Centre, please visit our webpage.  

 
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Eimear McCarthy

Eimear McCarthy

Partner - Audit and assurance

Eimear is a partner in the Financial Services Group of Deloitte in Dublin, specialising in the provision of assurance and advisory services to clients in the insurance sector. Eimear has been with the... More

Donal Lehane

Donal Lehane

Partner - Consulting

Donal has over 14 years of experience in providing advisory and consulting services with a particular focus on large scale transformation programmes within the financial services industry. Prior to wo... More

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Ciara Regan

Ciara Regan

Partner - Audit and assurance

Ciara is a partner in Deloitte Ireland's Actuarial, Rewards & Analytics practice. Deloitte's actuarial practice is one of the largest in the Irish market with c.25 people with skills across life, non-... More

Daniel Gaffney

Daniel Gaffney

Partner - Consulting

Daniel is a consulting partner working in the firm’s financial services industry group, specialising in the provision of finance transformation services to clients in the banking and insurance sectors... More