Current status IFRS 4 at Dutch and Belgian insurers


IFRS Project Insights: Insurance Contracts

The IASB is undertaking a comprehensive project on the accounting for insurance contracts with the objective of developing a comprehensive standard that will address recognition, measurement, presentation and disclosure requirements.

IFRS 17 key insights

The International Accounting Standards Board (“IASB”/ “the Board”) issued a Discussion Paper, Preliminary Views on Insurance Contracts, in May 2007. In August 2010, the Board issued Exposure Draft ED/2010/8 Insurance Contracts (“the 2010 ED”).

In June 2013, the Board issued revised Exposure Draft ED/2013/7 Insurance Contracts (“the 2013 ED”) which included changes in the insurance accounting proposals in response to the concerns raised by the insurance industry and other stakeholders on the 2010 ED. The Board decided to seek comments only on the 5 targeted areas where significant changes have been made since the 2010 ED. These are:

  • Unlocking the contractual service margin to reflect changes in cash flows for future coverage and/or services;
  • Splitting interest expense between profit or loss another comprehensive income;
  • Presenting insurance contract revenue and expenses;
  • Measuring and presenting cash flows from contracts with a contractual link to underlying items (“mirroring approach”); and transition provisions for the first application of the standard with a modified retrospective application of all the new requirements.

IFRS Project Insights provide a quick overview of the key projects of the IASB, with a summary of the current status, key decisions and proposals, key considerations for entities and the next steps expected in the project.

This edition includes tentative decisions reached during the IASB's 22 February 2017 meeting on insurance contracts.

More information?

Would you like to know more about IFRS 17? Please contact Marco van Ackooij via or at +31 (0)88 288 4316.


IFRS Project Insights
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