Factsheet: Ready for IFRS 17: The path to a success­ful imple­ment­a­tion

The intro­duc­tion of the prin­ciples-based account­ing stand­ard IFRS 17 is considered as one of the biggest changes in the insur­ance industry since IFRS 4. The stand­ard estab­lishes basic prin­ciples for the initial recog­ni­tion, meas­ure­ment, present­a­tion and disclos­ures of direct (re)insur­ance, passive (re)insur­ance and invest­ment contracts with discre­tion­ary parti­cip­a­tion features.