An Insurance Contract IFRS Is Coming : Are Your Financial Models Ready

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      <subfield code="a">You may be building a new Ferrari model for your insurance liabilities, or you may be driving your existing reliable family car model, but in either case you need to be watching out for future International Financial Reporting Standards (IFRS). The new financial reporting changes will not only impact the primary financial figures of insurers, but will also prescribe new disclosures and have a significant impact on financial models. We recommend keeping an eye on the rearview mirror if you don't want your models to be overtaken by the IFRS developments. Many companies are focusing on getting ready for Solvency II or other risk-based capital regulatory standards, as is the case in Mexico. A major part of this preparation is development of financial cash flow models that meet regulatory requirements.</subfield>
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