IFRS 17 implementation to cost insurers up to $20bn: Willis
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IFRS 17 implementation to cost insurers up to $20bn: Willis


The global insurance industry faces costs of between $15bn and $20bn for implementing the accounting regime IFRS 17, according to a survey by Willis Towers Watson.

The accounting overhaul involves sweeping changes, including making companies recognise long-term profits when insurance services are delivered, rather than when premium payments are received.

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