KPMG’s first dedicated Life Insurance Update highlights the scale of accounting and regulatory change on the horizon and provides you with access to our new KPMG Life Insurance Insights Dashboard.
Contributors to this edition have focused on:
- insurers’ readiness for IFRS 17 Insurance Contracts through a survey of 18 insurers, headquartered in 12 countries and territories, which have had IFRS 17 implementation programs running for several years. We draw out the themes from the survey to provide useful insights to companies as they work to make IFRS 17 a reality; and
- a snapshot of the unparalleled upcoming regulatory change. We consider the international experience and parallels to the banking sector, noting the need to be on the front foot and planning for material change, not just to your risk management and compliance functions, but also for wider implications to your business, including strategy and capital.
Our inaugural Insights Dashboard brings to life key financial information from life insurers’ filed financial statements through a range of interactive charts and graphs presenting key industry metrics, financial position and results up to 30 June 2020.
Thank you to Bartosz Piwcewicz, our Australian counterparts and our local Lighthouse data and analytics team for their part in bringing the dashboards to life.