FY2024 Insurance Reporting Analysis: Insights and Trends

Our latest analysis of insurance publications from 40 leading insurers around the world reporting under IFRS provides valuable insights and highlights sector trends and challenges

Key findings from our analysis include:

1. Consistency Over Time. Insurers have maintained a high level of consistency in their methodologies and disclosures from FY 2023 to FY 2024. This consistency allows investors to focus on the business drivers behind changes in results, providing a clearer picture of performance and prospects.
2. Inconsistent Methodology and KPI Definitions. There remains a lack of standardization in adjusted metrics and key performance indicators (KPIs) across the sector. Understanding the sensitivities, analysing movements, and reconciling metrics to other financial indicators remains crucial for assessing performance and future prospects.
3. Limited Working Day Timetable Improvements. While 28 of the 40 firms accelerated their preliminary publication dates typically by a few days, key information such as sensitivities, asset over margin (AoM), and reconciliations often remains available only in annual reports, which are typically published 1-4 weeks later.
4. Longer Disclosures Not Necessarily Better. Many annual reports have become longer, with insurers indicating further increases in the future.
5. IFRS Performance in 2024. The IFRS performance of insurers was generally better in 2024 compared to 2023.
6. Analyst Perspectives. Our recent survey of 11 analysts from sell-side, buy-side and rating agencies provides valuable feedback on the quality of insurance reporting. We include a summary of feedback, including recommendations for future reporting.

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If you work for an insurer and have not yet received our analysis, please complete this form to request a copy.

If you have questions relating to this analysis or would like us to help with your plans going forwards, please contact your WTW consultant or email ICT.