IFRS 17 will revolutionise how insurers manage themselves
IFRS 17 will fundamentally affect how investors regard insurers. It will change the profitability profiles of insurers between 2018 and 2023. If IFRS 17 isn’t planned for the whole business, then insurers will wind up in trouble. The IASB has changed the effective date to 1 January 2023, therefore re-planning is required.
Innovation has been working on and sharing its IFRS 17 (IFRS 4 Phase II) project delivery perspective since 2014 with project delivery plans made available to all insurers.
This section contains material useful to everyone planning and delivering IFRS 17.