The IASB has proposed a narrow-scope amendment to the transition requirements in IFRS 17 Insurance Contracts. The proposed amendment does not affect any other requirements in IFRS 17.
The proposed narrow-scope amendment to IFRS 17 would enable insurers to address this issue by giving them an option to present comparative information for certain financial assets in a manner consistent with IFRS 9.
The Exposure Draft is open for comment for 60 days, with the comment period closing on 27 September.
For more information, please see here.
Insurance Europe response – draft