Insurers feel pressure with new IFRS standards approaching: KPMG

DOHA: Large insurers have stepped up their preparations for IFRS 17 and IFRS 9, but smaller insurers have fallen further behind in preparing, according to a new report, 'In it to win it', from KPMG International. Sixty-seven per cent of large insurers surveyed are in the design or implementation phase for IFRS 17, with almost as many, 64 per cent, in a similar place with respect to IFRS 9. By comparison, among smaller insurers , only 10 and 25 per cent have started design or implementation for IFRS 17 and IFRS 9, respectively.

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