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Author: Kajal J. Savaliya
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659576645
Category :
Languages : en
Pages : 84
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Book Description
Break down of cross border barriers have encouraged the need to move towards a single set of consistent and understandable financial information reporting standards. There is also need to set single global language for accounting in world. There are many countries who have adopted the International financial reporting standard and therefore matter of convergence to IFRS has gained increasing importance in India as well. Introduction to International financial reporting standard provides the basic explanations of International financial reporting standard convergence with Indian GAAP. It discusses various aspects of challenges relating with the Indian insurance industry after Convergence of International financial reporting standard. It covers a research based work in which it examine the impact of IFRS on insurance industry performance. It will also serve the graphical presentation of questions and applied various statistical tests on forming of hypotheses.
Author: Kajal J. Savaliya
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659576645
Category :
Languages : en
Pages : 84
Get Book Here
Book Description
Break down of cross border barriers have encouraged the need to move towards a single set of consistent and understandable financial information reporting standards. There is also need to set single global language for accounting in world. There are many countries who have adopted the International financial reporting standard and therefore matter of convergence to IFRS has gained increasing importance in India as well. Introduction to International financial reporting standard provides the basic explanations of International financial reporting standard convergence with Indian GAAP. It discusses various aspects of challenges relating with the Indian insurance industry after Convergence of International financial reporting standard. It covers a research based work in which it examine the impact of IFRS on insurance industry performance. It will also serve the graphical presentation of questions and applied various statistical tests on forming of hypotheses.
Author: Tanja Kusterer
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
At present, the IASB is drafting the Financial Reporting Standard IFRS 4 Insurance Contracts with the aim of increasing the comparability and transparency in the accounting for insurance contracts. In June 2013, the Board released a revised exposure draft which is currently under discussion. The final standard is expected to be published in 2015. The following work analyses the impacts of this new standard on the insurance industry. The first part examines the effects on the financial statements and finds that the introduction of a building-block model that is based on a fair value measurement will increase the volatility in profit or loss and equity, lead to accounting mismatches, change the presentation of profit or loss and introduce complexity. As a strategic consequence, insurers may focus on volatility management, adapt their asset and liability management strategies, shift the management systems from a volume- to a profit-oriented perspective, and reconsider their product mix and pricing strategies. The second part discusses the impacts on an insurer's operations and, based on the expected complexity, additional data, an update of processes and systems, a substantial amount of human resources and an extensive education of all stakeholders involved will be required. Altogether, insurers will incur high costs on an initial and ongoing basis which will also depend on the degree of alignment with other regulations.
Author: Schweizerische Rückversicherungs-Gesellschaft. Economic Research and Consulting
Publisher:
ISBN:
Category : Insurance
Languages : en
Pages : 32
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Book Description
Author: Thomas Post
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The European insurance industry is currently undergoing a substantial change in financial reporting requirements. Beginning in 2005, compliance with the International Financial Reporting Standards (IFRS) has been required in the European Union. Substantial sections of the IFRS - leading to a market-oriented valuation of insurance contracts - are still under construction and will be introduced in the next few years. To date, assessment of the potential impact of the new IFRS accounting and reporting system is largely found in trade literature, and in insurance industry business leader and expert commentator statements. The tenor of opinion is that the IFRS will create a serious challenge for the European insurance industry. To evaluate the impact of IFRS more scientifically, this paper applies ő where indicated ő capital market theory and the concept of information efficiency. The paper suggests that concerns about the effects of IFRS are exaggerated, and reveals that the main area of IFRS impact on the European insurance industry is likely to be on insurance product design.
Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
ISBN: 1484348702
Category : Business & Economics
Languages : en
Pages : 38
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Book Description
This Technical Note provides an assessment of the recent development of regulation and supervision of the Indian insurance sector. The sector has continued to grow in scale and diversity, surmounting the adverse impact of the global financial crisis, although penetration remains relatively low. Public sector insurers continue to command a majority of the market and life insurance predominates, with about 75 percent of total premiums. Non-life insurance is dominated by motor insurance. Penetration rates are unchanged from 2011 and generally lower than in comparator countries, especially in non-life. Although traditional sale channels continue to predominate, there is increasing diversity in distribution. Risks in life insurance are relatively well spread and in non-life are mainly short-term.
Author: Thomas Post
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The European insurance industry is currently undergoing a substantial change in financial reporting requirements. Beginning in 2005, compliance with the International Financial Reporting Standards (IFRS) has been required in the European Union. Substantial sections of the IFRS - leading to a market-oriented valuation of insurance contracts - are still under construction and will be introduced in the next few years. To date, assessment of the potential impact of the new IFRS accounting and reporting system is largely found in trade literature, and in insurance industry business leader and expert commentator statements. The tenor of opinion is that the IFRS will create a serious challenge for the European insurance industry. To evaluate the impact of IFRS more scientifically, this paper applies where indicated capital market theory and the concept of information efficiency. The paper suggests that concerns about the effects of IFRS are exaggerated, and reveals that the main area of IFRS impact on the European insurance industry is likely to be on insurance product design.
Author: Mohan R. Lavi
Publisher: John Wiley & Sons
ISBN: 1119047587
Category : Business & Economics
Languages : en
Pages : 272
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Book Description
The industry-specific guide to IFRS interpretation and application One of the biggest challenges of any reporting standard is how best to interpret and implement it in the context of a specific company or industry, given that each industry has its own intricacies and nuances. The Impact of IFRS on Industry provides specific guidance on applying IFRS in a diverse range of sectors. Opening with an overview of IFRS, including a summary of all the standards, the book goes on to provide detailed coverage of the standards that can impact all industries, including IAS-40, IFRS 1, and IFRS 5. Thereafter, it offers practical advice and guidance on the application of IFRS in specific industries, including automotive; oil and gas; bio-sciences; infrastructure; airlines; media and communications; government-owned entities; mining; software; banking and financial services; insurance; FMCG; shipping; pharmaceuticals; telecoms; real estate and construction; power; SMEs; retail; e-commerce; and the service sector. The book concludes with a discussion on the collateral impact of implementing IFRS and how forthcoming IFRS Standards could impact specific industries. Worked examples are used throughout to demonstrate how the standards are applied in practice. Understand the IFRS standards comprehensively Learn which standards impact all industries Examine the ways in which IFRS is applied in practice See how different standards are applied in specific industries Suitable as a quick reference or a comprehensive guide, The Impact of IFRS on Industry gives you the real-world IFRS answers you need.
Author: Mario Simon Guenther
Publisher:
ISBN:
Category :
Languages : en
Pages : 94
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Book Description
Author: Ciara Mooney
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Joy Chakraborty
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659831867
Category :
Languages : en
Pages : 284
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Book Description
Since the deregulation of the Indian insurance sector in 1999, the market-share of the country's sole largest public-sector player Life Insurance Corporation of India has drastically gone down with the entry of private players. The abrupt rise in the presence of private players has eventually raised concerns about the performances of the life insurance players in safeguarding the interests of the policyholders. Further, the global financial crisis of 2007-08 had its contagion effects in the Indian insurance industry, the ripples of which were even felt in the performances of the Indian life insurers. The study thus makes an attempt to evaluate the operational efficiencies, productivity and financial health of the life insurance companies in India, covering the period from 2008-09 to 2014-15 against the backdrop of the global financial crisis and the insurance sector deregulation in India. The study has also hinted at the monopolistic-competition type of market structure prevailing in the country's life insurance sector. The study further gave indications about the commendable turnaround manifested by the life insurers from the spill-over effects of the financial crisis post 2010.
