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How insurers are faring as IFRS 17 transition looms

April 29, 2021 by Jason Contant

As the transition date for the new insurance accounting standard IFRS 17 approaches in January 2022, insurers are split on whether or not to use dedicated staff for implementation. A recent study of about 25 insurance clients of PwC found

News Insurance

Where insurers stand on OSFI’s reinsurance rules

April 28, 2021 by Jason Contant

Although proposed draft reinsurance rules from the federal solvency regulator have not been finalized, the president and CEO of Insurance Bureau of Canada (IBC) is indicating that the regulator and Canadian P&C insurers may be bridging the gap. “I take

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With the pandemic abated, OSFI restarts work on IFRS 17

August 17, 2020 by David Gambrill

Three things in life are inevitable — death, taxes, and the transition to IFRS 17. With the country now over what appears to be the worst of the COVID-19 pandemic thus far, Canada’s solvency regulator, the Office of the Superintendent

News InsuranceLegislation / Regulation

Accounting body proposes extension for IFRS 17

November 15, 2018 by David Gambrill

The International Accounting Standards Board (IASB) has voted to propose a one-year deferral of the effective date for IFRS 17 to 2022. Insurance companies globally have lobbied for the extension as they prepare their transition to the International Financial Reporting