IFRS 17 Disclosure Analysis: what have companies disclosed so far about IFRS 17?

Drawing on investor presentations, reports and webcasts for 33 insurance company publications up to December 2022, the webinar focused on the main findings to come out of our IFRS 17 disclosure analysis which are:

• Most insurers are expecting no / limited impact on dividend paying capacity, cash generation and capital requirements from the introduction of IFRS 17.
• Two-thirds are expecting a fall in IFRS Transition equity, three expect an increase, the rest either no impact or not disclosed.
• No general consensus on expected impact on IFRS 2022 profits (very few firms have disclosed actual impacts).
• Majority of the companies expect very limited impact on the measurement of assets with the introduction of IFRS 9.
• Most firms will start reporting under IFRS 17 at HY 2023. Those planning Q1 2023 reported some IFRS info at Q1 2022, typically less detail than HY reporting.
• Some firms have already introduced new KPIs under IFRS 17. All firms intending to will have done so by the end of 2023.
• Variety of judgements applied, including in some key areas, making comparability across companies more challenging.

Further information

If you have questions relating to any of the topics covered in the webinar, or any aspects of IFRS 17 implementation, please contact your usual WTW consultant or send us an email.