CECL impact on insurance companies
ASC 326, the current expected credit loss (CECL) standard, has substantially changed how entities, including insurers, estimate credit losses on financial assets measured at amortized costs.
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Understanding DORA compliance and regulatory expectations for financial institutions
The DORA (Digital Operational Resilience Act) regulation came into force across the financial sector on 17 January 2025. Unsurprisingly, only a small number of firms affected by DORA have declared themselves completely ready and compliant with all areas of the...
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How insurance can mitigate risks of cyber attacks
Everyone can be a target of cyber attacks, from large corporations and government institutions to small businesses and individuals. With the threat increasing, insurers have developed products for businesses to...
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US insurers' journey implementing IFRS 17
The International Financial Reporting Standard 17 (IFRS 17) for Insurance Contracts represents a significant shift in the accounting landscape for insurance companies. Developed by the International Accounting Standards Board (IASB)...
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