Swiss Re to adopt IFRS for its consolidated financial statements
Reinsurer Swiss Re is to adopt International Financial Reporting Standards (IFRS) for its consolidated financial statements as of January 1 2024.
The Swiss Re Group, which is headquartered in Zurich, Switzerland, comprises Swiss Re (the parent company) and its subsidiaries. Currently, the consolidated financial statements of Swiss Re, Swiss Reinsurance Company and Swiss Re Corporate Solutions are prepared in accordance with US Generally Accepted Accounting Principles (US GAAP).
The boards of directors of Swiss Re, Swiss Reinsurance Company and Swiss Re Corporate Solutions have decided that as of January 1 2024 their consolidated financial statements will be prepared in accordance with IFRS. Financial statements for periods ending on or prior to 31 December 2023 will continue to be prepared in accordance with US GAAP.
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