Solvency II is an integral part of the European regulatory landscape and has been for several years. The importance of the Solvency II reporting for insurers ensures that Solvency II deadlines remain a focal part of insurance companies' calendars.
International Financial Reporting Standard 17 (IFRS 17) for insurance contracts has been in the works for over 20 years to standardise accounting practices and help comparability worldwide. As the IFRS 17 start date nears, and work continues to implement the necessary processes, it is essential to keep in mind the key IFRS 17 milestones and developments having implications for insurance companies.
The EU has issued a comprehensive package of measures to make the financial sector more sustainable. As governments and regulators tackle the challenge of climate change, it is important to be aware of the regulatory developments that are affecting all aspects of the insurance industry.
This document highlights the key timelines for insurers for Solvency II and IFRS, as well as other important dates.