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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Reflections on the Africa Financial Summit: adapting to global shifts in risks and regulations
Forvis Mazars proudly participated in the Africa Financial Summit (AFIS) 2024, held from 9-10 December in Casablanca, Morocco, and sponsored the awards ceremony. Below are some reflections on the state of play and future of Africa’s financial sector. In recent...
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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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