IFRS 17 to cost insurers $15bn-$20bn, says Willis Towers Watson

The implementation of the accounting standard IFRS 17 is expected to cost the global insurance industry $15bn-$20bn, according to a new worldwide survey by Willis Towers Watson (WTW). “This is an extraordinary figure that will naturally lead to many questions from boards and investors,” said Kamran Foroughi, global IFRS 17 advisory leader at WTW. The WTW study polled 312 insurers…

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