Accounting for change

Proposed reforms to German accounting rules could lead to greater international investment but at the risk of increasing pension liabilities. Aaron Woolner reports


Despite the remorseless march of globalisation in financial services, a large portion of German companies still use unfunded book reserves to pay their pension promises - a stark contrast to the funded approach favoured by their major economic rivals. According to rating agency AM Best, even several years after the wholesale switch to IFRS accounting by headline German corporates, such as BMW and Bosch, over 50% of the country's occupational pension liabilities are still in the form of

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The future of life insurance

As the world constantly evolves and changes, so too does the life insurance industry, which is preparing for a multitude of challenges, particularly in three areas: interest rates, regulatory mandates and technology (software, underwriting tools and…

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