EFRAG is calling for expressions of interest from European insurance companies in participating in a case study in connection with EFRAG’s endorsement advice on IFRS 17 Insurance Contracts.
EFRAG has been requested by the EC to provide its opinion on whether IFRS 17 Insurance Contracts (IFRS 17) meets the criteria in the IAS Regulation to be endorsed for use in the EU and EEA. The criteria for endorsement include technical conditions and that the new IFRS Standard is conducive to the European Public Good.
In developing its advice to the EC, EFRAG will undertake an impact analysis, including a cost-benefit analysis and an analysis of broader economic impacts. In order to provide these analyses, EFRAG plans to undertake a detailed case study on the anticipated impact of IFRS 17 on a sample of European insurance groups (the IFRS 17 case study). The IFRS 17 case study will form an integral part of the development of an advice from EFRAG to the EC on the expected impact of IFRS 17 in Europe.
EFRAG is calling for volunteers to participate in the case study and is seeking the participation of a range of entities involved in providing insurance. The focus of the study is on European insurance groups that apply IFRS Standards under the provisions of the IAS Regulation.
The closing date for expressions of interest in participating in the study is Friday 8 December 2017.
Full press release
© EFRAG - European Financial Reporting Advisory Group
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