Accounting Standards and Insurer Solvency Assessment

Download or read book Accounting Standards and Insurer Solvency Assessment written by Peter Windsor and published by . This book was released on 2020-07-31 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper explores the use of accounting standards for insurer solvency assessment in the context of the implementation of IFRS 17. The paper is based on the results of a survey of 20 insurance supervisors. Overall, IFRS 17 is a welcome development but there will be challenges of implementation. Not many insurance supervisors currently intend to use IFRS 17 as a basis for solvency assessment of insurers. Perceived shortcomings can be overcome by supervisors providing clear specifications where the principles-based standard allows a range of approaches. Accounting standards can provide a ready-made valuation framework for supervisors developing new solvency frameworks.