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Global IFRS Institute | Insurance | Real-time IFRS 17

• What are our key observations?
• What else did we look at?
• What’s next?

As part of our ongoing analysis of insurers� reporting on implementing the new accounting standards �
IFRS 17 Insurance Contracts and IFRS 9 Financial Instruments â€� we now share our observations  on selected insurersâ€� first interim reports and trading updates for the quarter ended 31 March 2023. 

We focused on:

� IFRS 17 disclosures and their comparatives in the interim reports; and

� the impacts of IFRS 17 on key performance indicators (KPIs).

Our analysis highlights the following.

• New disclosures under IFRS 17 provide previously unavailable insight into insurance contract measurement and results.
• Most insurers that issued interim reports under IAS 34 Interim Reporting disclose reconciliations of insurance contract liabilities for the current and comparative period. 
• Many insurers are starting to incorporate IFRS 17 and IFRS 9 into their KPIs, with varying impacts. As well as new KPIs emerging, insurers are now revising their performance targets.

We continued to monitor insurersâ€� IFRS 17 and IFRS 9 accounting policies and significant judgements. Our analysis includes an update on our previous observations and notes that insurersâ€� interim reports or trading updates either provide new information or confirm information previously provided in their December 2022 annual reports. 

Read our analysis of insurersâ€� first-quarter reporting under IFRS 17 and IFRS 9. 

Visit and bookmark our Real-time IFRS 17 page for more information and look out for the next issue in our real-time IFRS 17 series, looking at insurersâ€� first half-year reporting to 30 June 2023.