IFRS 9 pushing insurers from funds into mandates
Some insurance firms are shifting money from pooled funds into separate accounts to dampen the higher profit-and-loss volatility expected to result from a new reporting standard.
Concerns over the impact of incoming IFRS 9 and IFRS 17 accounting rules are likely to lead some insurers in Asia and beyond to prioritise segregated accounts over mutual funds for their fixed income investments, say industry experts.
IFRS 9 and IFRS 17 relate to the asset and liability sides of insurers' balance sheets, respectively, and govern the accounting treatment of financial instruments. The incoming rules, which must be adopted by insurance firms by 2022, are creating s…
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