In May 2017, the International Accounting Standards Board (IASB) issued IFRS 17 – Insurance Contracts. IFRS 17 will replace the previous interim standard IFRS 4 – Insurance Contracts. IFRS 17 is effective for annual periods beginning on or after 1 January 2021. Earlier application is permitted if both IFRS 15 – Revenue from Contracts with Customers and IFRS 9 – Financial Instruments have also been applied.

Access IFRS 17 from eIFRS

Latest Developments

September 2017

• Webcast on reinsurance contracts held published (28 September 2017)
• Webinar: How does IFRS 17 measure insurance contracts with short coverage periods  (11 September 2017)

July 2017

• Webinar:  How does IFRS 17 work and what does it mean for investors? (25 July 2017)
• Illustrative tagging for IFRS 17 – Insurance Contracts published 
• The Financial Stability Board encourages insurers to implementing IFRS 17)
• The new Insurance Contracts Standard and its contribution to financial stability (3 July 2017)

June 2017

January 2017

• Listen to our latest webinar on the forthcoming insurance contracts Standard   

September 2016

• Amendments to IFRS 4 – Insurance Contracts  

May 2016

• Listen to the final webinar on the Insurance Contracts Standard 

• IFRS 4 - Insurance Contracts to be amended  

• The latest webinar on the Insurance Contracts Standard

• Listen to the webinar on the IASB’s planned technical decisions for the upcoming Insurance Contracts Standard 

December 2015

• IASB proposes amendments to the current Insurance Contracts Standard to provide temporary reliefs for insurers

October 2015

• IASB to consult on temporary measures relating to the effective dates for IFRS 9   

March 2015

• Helping investors better understand cash flow

• Update on the insurance contracts project 

February 2015

• Investor perspective on insurance contracts accounting

SAICA Circulars and Guides

• 2007 – Circular 2/2007 – Recognition and Measurement of Short-Term Insurance Contracts
• 2007 – Long-term Insurance Audit Guide

 

SAICA Seminars and Events on IFRS 17 - 2017

• Breakfast event on the new Insurance Contracts Standard

 Exposure Drafts and Submission on Insurance Contracts Standard

Access the following proposed pronouncements on the Insurance Contracts Standard and SAICA submissions from here

• ED 368 – Applying IFRS 9 – Financial Instruments with IFRS 4 – Insurance Contracts: Proposed Amendments to IFRS 4
• ED 334 – Insurance Contracts

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