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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Financial services tax digest - June 2025
As the saying goes, “the only constant in life is change.” As we enter the third quarter of 2025, global economic uncertainty continues to escalate. President Trump’s pause on “reciprocal” tariffs is set to expire on 8 July 2025. Currently,...
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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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