ESMA supports the endorsement of IFRS 17 insurance contracts
ESMA Guidelines and Recommendations
Date:
02 February 2021
On 29 January 2021, the European Securities and Markets Authority (ESMA) published its
response to the European Financial Reporting Advisory Group’s (EFRAG) consultation on its draft advice on the endorsement into European law of the new international accounting standards for insurance contracts (IFRS 17). ESMA supports the endorsement of IFRS 17 which will provide a consistent system of requirements to account for insurance and reinsurance contracts.