Accounting Standards and Insurer Solvency Assessment

Accounting Standards and Insurer Solvency Assessment
READ MORE...
Volume/Issue: Volume 2020 Issue 146
Publication date: July 2020
ISBN: 9781513551807
$18.00
Add to Cart by clicking price of the language and format you'd like to purchase
Available Languages and Formats
paperback else
pdf else
epub else
English
Prices in red indicate formats that are not yet available but are forthcoming.
Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , WP , insurance contract , insurance supervisor , impact study , insurance liability , measurement approach , solvency position , Insurers , Supervisors , IFRS , IFRS 17 , Solvency , Capital , Supervision , accounting practice , International Financial Reporting Standards , Insurance companies , Accounting standards , Insurance , Global , Africa

Summary

The paper explores the use of accounting standards for insurer solvency assessment in the context of the implementation of IFRS 17. The paper is based on the results of a survey of 20 insurance supervisors. Overall, IFRS 17 is a welcome development but there will be challenges of implementation. Not many insurance supervisors currently intend to use IFRS 17 as a basis for solvency assessment of insurers. Perceived shortcomings can be overcome by supervisors providing clear specifications where the principles-based standard allows a range of approaches. Accounting standards can provide a ready-made valuation framework for supervisors developing new solvency frameworks.