IFRS 17 implementation to cost insurers up to $20bn: Willis
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Free Trial
  • Log in

IFRS 17 implementation to cost insurers up to $20bn: Willis

Samuel Casey
07 June 2021
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
wtw_willis_towers_watson_logo_london_2022.png

The global insurance industry faces costs of between $15bn and $20bn for implementing the accounting regime IFRS 17, according to a survey by Willis Towers Watson.

The accounting overhaul involves sweeping changes, including making companies recognise long-term profits when insurance services are delivered, rather than when premium payments are received.

Subscribers, log in here:

Fuel a smarter strategy with our actionable market intelligence

      • Gain a competitive edge and accelerate decision-making
      • Be empowered by insights that transform confusion to clarity
      • Uncover growth opportunities and prepare for potential threats
      • Fuel a smarter strategy for business growth
Request a free trial Already a subscriber? Log in now

Topics

News Willis Towers Watson Regulation
sam casey/sam casey ii ils.png
Samuel Casey
Senior Reporter
Contact
Gift this article