The KPMG Academy offers a seminar on IFRS 17 Insurance contracts and Solvency II in an effort to keep its clients informed about the particular IFRS and updated on other related regulatory issues. It is expected that the new standard will introduce a comprehensive new accounting model that will give users of financial information a whole new perspective on the financial statements of the insurers. Furthermore, it will herald an end to the lack of comparability in the insurance sector. It will also increase transparency about the profitability of new and in-force businesses and will give users additional insight into the financial health of an insurer. It is certain that all insurers will see impacts on their reported numbers, one way or another, whilst it is expected that the implementation of the standard will require substantial effort.

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