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Transition to IFRS 17 - March 2019
Transition to IFRS 17 - March 2019
Preparing the Market for IFRS 17
Update from IASB March board meeting
A further three tentative amendments to IFRS 17 Insurance Contracts emerged from the International Accounting Standards Board’s (the Board) March 2019 meeting.
In total, four topics were discussed at the meeting, meaning that all 25 of the stakeholder concerns and implementation challenges the Board agreed to explore have now been covered.
The Board tentatively decided to propose amendments to IFRS 17 in three areas.
- Scope exclusion for some credit cards that provide insurance coverage.
- Amending the transition requirements for the risk mitigation option and loans that transfer significant insurance risk.
- Amending the disclosure requirements regarding insurance acquisition cash flows and contractual service margin (CSM) allocation.
Previous KPMG Insurance IFRS 17 series
- Transition to IFRS 17 - February 2019
- Transition to IFRS 17 - January 2019
- Transition to IFRS 17 - December 2018
- Transition to IFRS 17 - October 2018
- Transition to IFRS 17 - September 2018
- Transition to IFRS 17 - August 2018
- Transition to IFRS 17 - June 2018
- Transition to IFRS 17 - May 2018
- Impacts of IFRS 17 on data, systems and processes - April 2018
- Transition to IFRS 17 - March 2018
- Transition to IFRS 17 - February 2018
- Key KPMG Publications to support on transition to IFRS 17 - February 2018
- Overview of new standard - January 2018
