Finance and Accountancy Briefing
Addressing Solvency II reporting requirements
The significant changes in reporting driven by Solvency II, is forcing many insurers to change their business structures, strategies and operating practises. The information to support restructuring the business and adapting the strategy will require comparative information on the IFRS and Solvency II methods, well in advance of the external reporting mandates. Supporting information to drive key business decisions will be required above purely financial comparatives. The need for more granular, qualitative, explanation oriented, reporting to support Solvency II with accuracy and timeliness is an increased burden and challenge.
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