IFRS 17 implementation may cost up to £2bn in the UK, says Prudential CFO
The introduction of IFRS 17, the new international accounting standard for insurance contracts, is the biggest shake up of insurance reporting for decades as it will impact profit, equity and volatility, as well as reserving and financial reporting processes, according to industry experts.
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IFRS 17, Insurance, Fitch Ratings, Willis Tower Watson, International Accounting Standards Board, Financial reporting, PwC