IFRS insurance accounting newsletter

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28 May 2009

Deloitte (United Kingdom) has published the May 2009 edition of its monthly newsletter focussing on the joint IASB and FASB project to develop a new, comprehensive, global financial reporting standard for insurance.

This issue covers in detail the key tentative decisions made by the IASB at its 22 April 2009 meeting. They were:
  • require insurers to recognise revenue when they generate new business.
  • the new business revenue, together with the acquisition expenses incurred to secure it, will provide the elements for the initial calibration of the residual margin or the recognition of day one loss.
Click to download May 2009 Edition of the Insurance Accounting Newsletter (PDF 240k). There are permanent links all issues of the newsletter on IAS Plus Insurance Project Page.


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