On September 17, the Institute for the Supervision of Insurance (IVASS) published on its website Consultation Document No. 7/2024, containing the amendments the institute intends to make to ISVAP Regulation No. 7 of July 13, 2007, concerning the accounting schemes for insurance and reinsurance companies.
The Document aimed at improving the transparency and comparability of IAS/IFRS insurance financial statements, following the adoption – in January 2023 – of the new international accounting standard IFRS 17 “Insurance Contracts”, which replaced the previous IFRS 4 standard and evaluates the profitability of insurance contracts at the time of their inception.
Any observations or comments may be submitted by October 18 to the IVASS email address gruppobilancioassicurativo@ivass.it, by filling out the attached table.