IASB support development for global insurance standard

James Dean, practice leader for Ernst and Young’s Global Insurance Centre and one of the leaders of the review team, commented: “Whatever final insurance standard the IASB develops will result in a fundamental change in the finance and actuarial functions of many insurance companies. Understanding the impact on systems, data, pricing and capital management will be a major challenge. Insurers should start now to examine how this will affect their financial systems and statements. The impact will

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