Amendments to IFRS 17 – AcSOC
At the AcSOC meeting on June 6-7, 2019, the AcSB Chair noted that the AcSB had received a letter from the Canadian Life and Health Insurance Association. It requested that the Board provide a Canadian-only deferral of the new insurance standard. The Board noted that it was too early to make this decision. The AcSB Chair will take part in a panel in Hong Kong on insurance hosted by the Hong Kong standard setter. She will also meet with the local executives of Sun Life Financial and Manulife Financial and will attend roundtables with the local standard setters. The AcSB Chair also advised that during his visit to Toronto in July 2019, Mr. Scott of the IASB will meet with stakeholders, industry groups, and regulators. The IASB plans to issue an exposure draft on insurance by the end of June 2019.
Review the meeting summary on the AcSOC's Web site.
