The incoming International Financial Reporting Standard 17 (IFRS 17) is set to shake-up insurance – and not necessarily in a positive way, if industry consensus is anything to go by.
A whopping 97% of senior UK insurance professionals believe business is going to become more complex and costlier to operate in as a result of the regulation, and 90% believe that the cost of compliance will be more than the Solvency II Directive, according to research from data firm SAS.
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