Insurers who have been deferring the implementation of IFRS 9 will need to implement these standards at the same time as IFRS 17.
IFRS 9 allows a number of methods for valuing different forms of assets. Insurers will need to carefully consider potential mis-matches between assets and liabilities when choosing how to classify their assets, and carefully examine their holdings for any features which may require a particular approach to be taken, such as corporate bonds with interest deferral or convertibility clauses.
4most has extensive experience in implementing IFRS 9 for banking clients, and are able to design, develop, validate or advise on IFRS 9 projects.
We have also helped clients make full use of the new information produced as part of IFRS 9, using the information provided to improve return optimisation, stress testing and portfolio monitoring tools.