SRO 1916(I) 2025 Draft Notification – Insurance Accounting Regulations 2017

PART II
Statutory Notification (S.R.O)
GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN Islamabad, the 6 th October, 2025 NOTIFICATION S.R.O. 1916(I)/2025.- In exercise of powers conferred under sub-section (3) of section 167 of the Insurance Ordinance, 2000 (XXXIX of 2000), read with sub-section (1) of section 46 thereof, and Section 40 of the SECP Act 1997 (XLII of 1997), the Securities and Exchange Commission of Pakistan is pleased to publish the following amendments to the Insurance Accounting Regulations, 2017 for information of all persons likely to be affected thereby and notice is hereby given that objections or suggestions, if any, received within thirty days from the date of its publication shall be taken into consideration by the Commission, namely:- DRAFT AMENDMENTS These amendments will come into force on the date when IFRS 17 becomes effective for life and non￾life insurers. In the aforesaid Regulations.-

1. In Regulation 3,
   (i) For sub-regulation (1), the following shall be substituted, “(1) These Regulations will be applicable to regulatory returns only, except as otherwise provided in sub-regulation (3) and (4) below.”; (ii) For sub-regulation (3), the following shall be substituted, “(3) Regulation 7 and Regulation 22 relating to segment reporting and Regulation 8 and Regulation 23 relating to audit report will be applicable to published financial statements as well as regulatory returns of the life and non￾life insurers.”;