Chilean regulator delays IFRS implementation for insurers

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03 Jul 2010

Chile's Superintendency of Securities and Insurance (Superintendencia de Valores y Seguros or SVS) has delayed the implementation of International Financial Reporting Standards (IFRSs) for both general and life insurance companies until 2012, following the significant impact and burden that the earthquake of 27 February 2010 has had on this sector.

Originally insurance companies were scheduled to adopt IFRS with effect from 1 January 2010. The SVS had already postponed IFRS adoption once until 2011. SVS has announced that it will publish a revised timetable for implementation of IFRSs for the insurance sector during 2010. Please click for SVS Press Release (Spanish) (PDF 51k).


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