Firms tap Solvency II know-how for accounting overhaul

IFRS changes will be next challenge for European insurers

accounting-numbers

Insurers in the UK and Europe currently have their heads down pushing through final preparations for Solvency II. The effort has been so arduous for many that they would be forgiven for eagerly anticipating the moment they successfully meet the first deadlines and can relax. But as they lift their heads they see yet another challenge ahead - in this case, International Financial Reporting Standards (IFRS) 4 Phase II. Although it is a new accounting standard, it cannot simply be left to the finan

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