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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Exploring IFRS 18: what insurers need to know
IFRS 18 - Presentation and disclosure in financial statements is set to replace the IAS 1 - Presentation of financial statements and will be effective for the period beginning on 1 January 2027. IFRS 18 applies to all entities, including insurance companies....
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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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