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Your essential guides to disclosures for insurers

°¿³Ü°ùÌýGuides to financial statementsÌýhelp you to prepareÌýand present financial statements in accordance with IFRS^®ÌýAccounting Standards.Ìý

For insurers, we have three guides containing illustrative disclosures for a fictitious multinational insurer that applies IFRS 17ÌýInsurance ContractsÌýand IFRS 9ÌýFinancial Instruments:

• after initial application: Illustrative disclosures for insurers (2024 edition) for an annual period beginning on 1 January 2024. The 2024 edition includes expanded disclosures based on common disclosures in insurersâ€� financial statements after their first year of experience with IFRS 17. An insurer no longer needs to present financial statements for the year of transition to IFRS 17 and IFRS 9; however, some disclosures relating to transition remain relevant;
• in the period of initial application:ÌýIllustrative disclosures for insurers (2020 edition)Ìýillustrates the first annual financial statements when IFRS 17 and IFRS 9 are applied for the first time ; and
• before initial application: theÌýIFRS 17 and IFRS 9 pre-transition disclosuresÌýsupplement, illustrating pre-transition disclosures required by IAS 8ÌýAccounting Policies, Changes in Accounting Estimates and ErrorsÌýin the financial statements.

What’s new in 2024?

Driving clarity in financial reporting

Investors and regulators have been raising concerns about the clarity of financial reporting, including climate reporting. Companies need to be clear on climate in their financial reporting and be ready for the additional scrutiny of their financial statements that will come with sustainability reporting.

In response to investorsâ€� concerns, the International Accounting Standards Board (IASB) is focusing on presentation and disclosure matters. A number of amendments to the existing presentation and disclosure requirements become effective this year.Ìý

Connectivity provides the unifying principle in achieving clarity in corporate reporting. It ensures that the different elements of a company’s annual report make a coherent, connected and integrated whole. The three key areas of the annual report � the financial statements, the sustainability disclosures and management’s discussion and analysis (MD&A) � need to provide a complete picture of the company’s business model and strategy, connecting the dots between the financial and non-financial information.

For more about connectivity, see our Connected reporting page.

For more ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø insight on IFRS 17, visit ourÌýInsurance contractsÌý±è²¹²µ±ð.

You can also follow 'Ìýand check outÌýThe ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø view â€� IFRS StandardsÌýfor more content and topical discussion.