{
  "title": "Accounting Standards and Insurer Solvency Assessment",
  "publication": "IMF Working Papers, July 31, 2020",
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  "summary": "The paper explores the use of accounting standards for insurer solvency assessment in the context of the implementation of IFRS 17. The paper is based on the results of a survey of 20 insurance supervisors. Overall, IFRS 17 is a welcome development but there will be challenges of implementation.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Title: Accounting Standards and Insurer Solvency Assessment\n- Authors: Peter Windsor, Jeffery Yong, Michelle Chong-Tai Bell\n- Publication date: July 31, 2020\n- Series: IMF Working Papers\n- Issue: 146\n- Volume: 2020\n- Pages: 47\n- DOI: https://doi.org/10.5089/9781513551807.001\n- ISBN: 9781513551807\n- ISSN: 1018-5941"
    },
    {
      "heading": "Purpose and Scope",
      "content": "- Explores the use of accounting standards for insurer solvency assessment in the context of the implementation of IFRS 17.\n- Based on the results of a survey of 20 insurance supervisors."
    },
    {
      "heading": "Key Findings",
      "content": "- IFRS 17 is generally viewed as a welcome development.\n- There will be challenges of implementation associated with IFRS 17.\n- Not many insurance supervisors currently intend to use IFRS 17 as a basis for solvency assessment of insurers.\n- Perceived shortcomings of IFRS 17 can be overcome by supervisors providing clear specifications where the principles-based standard allows a range of approaches.\n- Accounting standards can provide a ready-made valuation framework for supervisors developing new solvency frameworks."
    },
    {
      "heading": "Subjects and Keywords (as provided)",
      "content": "- Subjects: Accounting standards; Financial institutions; Financial regulation and supervision; Financial sector policy and analysis; Insurance; Insurance companies; International Financial Reporting Standards; Public financial management (PFM); Solvency\n- Keywords: accounting practice; Accounting standards; Africa; Capital; Global; IFRS; IFRS 17; impact study; Insurance; Insurance companies; insurance contract; insurance liability; insurance supervisor; Insurers; International Financial Reporting Standards; measurement approach; Solvency; solvency position; Supervision; Supervisors; WP"
    },
    {
      "heading": "Publication Notes and Metadata",
      "content": "- Series: Working Paper No. 2020/146\n- Stock No: WPIEA2020146\n- Format availability: PDF and other formats via IMF eLibrary\n- Citation example (Chicago, as provided): Peter Windsor, Jeffery Yong, and Michelle Chong-Tai Bell. \"Accounting Standards and Insurer Solvency Assessment\", IMF Working Papers 2020, 146 (2020), accessed 9/18/2026, https://doi.org/10.5089/9781513551807.001\n\nImf Working Paper No. 2020/146, July 31, 2020.\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2020/07/31/accounting-standards-and-insurer-solvency-assessment-49616"
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    "Authors: Peter Windsor, Jeffery Yong, Michelle Chong-Tai Bell",
    "Published: July 31, 2020",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513551807.001",
    "Title: Accounting Standards and Insurer Solvency Assessment",
    "Authors: Peter Windsor, Jeffery Yong, Michelle Chong-Tai Bell",
    "Publication date: July 31, 2020",
    "Series: IMF Working Papers",
    "Issue: 146",
    "Volume: 2020",
    "Pages: 47",
    "DOI: https://doi.org/10.5089/9781513551807.001",
    "ISBN: 9781513551807",
    "ISSN: 1018-5941",
    "Explores the use of accounting standards for insurer solvency assessment in the context of the implementation of IFRS 17.",
    "Based on the results of a survey of 20 insurance supervisors.",
    "IFRS 17 is generally viewed as a welcome development.",
    "There will be challenges of implementation associated with IFRS 17.",
    "Not many insurance supervisors currently intend to use IFRS 17 as a basis for solvency assessment of insurers.",
    "Perceived shortcomings of IFRS 17 can be overcome by supervisors providing clear specifications where the principles-based standard allows a range of approaches.",
    "Accounting standards can provide a ready-made valuation framework for supervisors developing new solvency frameworks.",
    "Subjects: Accounting standards; Financial institutions; Financial regulation and supervision; Financial sector policy and analysis; Insurance; Insurance companies; International Financial Reporting Standards; Public financial management (PFM); Solvency",
    "Keywords: accounting practice; Accounting standards; Africa; Capital; Global; IFRS; IFRS 17; impact study; Insurance; Insurance companies; insurance contract; insurance liability; insurance supervisor; Insurers; International Financial Reporting Standards; measurement approach; Solvency; solvency position; Supervision; Supervisors; WP",
    "Series: Working Paper No. 2020/146",
    "Stock No: WPIEA2020146",
    "Format availability: PDF and other formats via IMF eLibrary",
    "Citation example (Chicago, as provided): Peter Windsor, Jeffery Yong, and Michelle Chong-Tai Bell. \"Accounting Standards and Insurer Solvency Assessment\", IMF Working Papers 2020, 146 (2020), accessed 9/18/2026, https://doi.org/10.5089/9781513551807.001",
    "**Working Paper**"
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