Amendments to IFRS 17 from February 2019 IASB Meeting

Since the publication of IFRS 17 in May 2017, the insurance industry has begun the implementation process in advance of the effective date. As the industry has moved towards implementing the standard, a number of issues have been raised. At the February 2019 meeting, the IASB discussed four of these issues and tentatively approved a number of amendments to the standard. Milliman has summarised those amendments along with the outcomes of the discussions in a brief paper.