Insurance EuropeInsurance Europe
Position Paper
Joint letter to IASB on the interaction between IFRS 9 and IFRS 4 Phase II

Joint letter by Insurance Europe and the CFO Forum in relation to the IASB Board's recent discussions of the issues caused by the misalignment of the effective dates of IFRS 9 ("Financial Instruments") and the future insurance contracts Standard ("IFRS 4 Phase II")

Insurance Europe and the CFO Forum appreciate the IASB's efforts to address concerns that the interaction between the two standards is critical for the insurance industry. The associations also acknowledge that the Board's new approach, as discussed in July, which envisages amendments to the current IFRS 4, seeks to address one of the industry's concerns of accounting mismatch-based volatility in P&L that would arise on the application of IFRS 9 ahead of IFRS 4 Phase II.

Published 11 August 2015
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