Ernst & Young interview: A combined solution – overcoming the twin challenges of Solvency II and IFRS


A common reporting platform for insurance organizations appears closer to becoming a reality. The exposure draft issued by the IASB and discussion paper issued by the FASB help define areas of convergence and divergence between IFRS 4 Phase II and Solvency II. The challenges are complex, but insurers have significant opportunities to ensure a smooth implementation of both - with careful planning. Organizations that start now can reduce costs by managing these projects together. In an intervie