South Africa

Details

  • Industry: Financial Services
  • Type: Business and industry issue
  • Date: 2014/01/23

Insurance

KPMG’s insurance professionals have a technical understanding of the insurance industry. Our service includes audit services, financial reporting, Solvency Assessment Management and more.

Towards the Final Frontier: Business perspectives on insurance accounting proposals 

In this publication we examine the most important business implications for executives to consider in response to the most recent insurance accounting proposals.

Throughout the publication we:

  • Present a high level guide to the key accounting changes including, the measurement model, volatility, financial instruments accounting and asset-liability management.
  • Consider the potential changes to systems and processes, such as changes to modeling and administration systems, as well as systems used to collect and aggregate data for disclosure.
  • Outline the people and change impacts. Not only will there need to be increased resources to manage the change, but also the talent that insurers need after the transition may differ from those required today.
  • Discuss the broader business impacts and why the changes may affect the types of products that an insurer sells, the investments that it holds, executive compensation arrangements, and how insurers communicate to the market.
  • Address how an insurer brings everything together through a coordinated approach to program management. 


 

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Contact

Contact
Gerdus Dixon
Director, Financial Services
Tel: +27 (0)82 492 8786
gerdus.dixon@kpmg.co.za