The stress of accountability

The re/insurance industry’s outlook on new accounting standard IFRS 17 can perhaps best be expressed in a single quote supplied to Reactions in late 2018 by the CEO of one London-based insurer: “IFRS 17 is just a nightmare. It creates change with no real stated upside. Solvency II created change, and there was a good intention and good came out of it. IFRS is a solution in search of a problem.”

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