Canadian Underwriter

Keyword
International Financial Reporting Standard

Wooden cubes spelling out International Financial Reporting Standards
News Earnings / RatingsInsuranceLegalLegislation / Regulation

Will IFRS 17 make insurers’ results harder to compare?

January 25, 2023 Philip Porado

At best, it will be difficult to make initial comparisons to insurers’ IFRS 17 results, due to differences between companies’ approaches under the new accounting standard, said a report this week from Fitch Ratings. A stated objective of the insurance…
Feature InsuranceLegislation / Regulation

Pain and Gain

July 26, 2017 Dana Chaput, Insurance Accounting Change Lead, KPMG in Canada

Canadian property and casualty insurers should expect that the adoption of the new financial accounting standard, International Financial Reporting Standard 17, will take some work and investment. That said, any growing pains should give way to greater comparability with global jurisdictions and, in many cases, more helpful financial reporting.