Swiss Re said today that the U's International Financial Reporting Standard's (IFRS), which will be introduced in January 2005, would force EU insurers to become more transparent.
From 2005, the IFRS requires that insurers report market values rather than amortized costs. At the same time the treatment of liability cover remains unchanged and insurers will no longer be able to hold equalisation reserves.
Swiss Re senior economist Rainer Helfenstein said the regulations would make the industry more transparent and earnings and capital “will become more volatile.”
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
