Regulatory Alerts2017-02-13
Added · Updated
Insurance Accounting Regulations, 2017
The Securities and Exchange Commission of Pakistan establishes the Insurance Accounting Regulations, 2017, requiring insurers to comply with International Financial Reporting Standards for Regulatory Returns and Published Financial Statements. The rules mandate specific accounting treatments for life insurers under Part A and non-life insurers under Part B, covering revenue recognition, liability measurement, reinsurance, and asset classification. Insurers must submit these accounts starting with the period ended 31 December 2016, while prior periods remain subject to previous requirements.
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