Asia P&C insurers unprepared for IFRS 17
February 5 2021 by Nick Ferguson
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Time to bite the bullet on IFRS 17? Implementation issues still abound in Asia
- May 27
Despite being formally introduced in several countries in 2023, a number of players in the Asian market continue to struggle with the adoption of new reporting standards, Aon's managing director and APAC head of finance consulting David Mbatha says.
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Philippines extends PFRS 17 deadline until January 2027
- March 12
Last year, the Insurance Commission mandated adoption of a new accounting standard - which aligns with the International Financial Reporting Standard 17 (IFRS 17) - by January 1, 2025.
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IFRS 17 readiness and implementation “not fit for purpose” for some APAC players
- December 6
There are “specific pockets” where problems with IFRS 17 are still manifest in the Asia market, including aspects of reporting.
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India extends IFRS 17 implementation deadline to April 2027: report
- October 17
IRDAI had earlier set an April 2025 deadline for the implementation of the new accounting regime in the insurance sector.
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