Regulatory Alerts2025-10-15
Added · Updated
SRO 1916(I) 2025 Draft Notification – Insurance Accounting Regulations 2017
The Securities and Exchange Commission of Pakistan amends the Insurance Accounting Regulations, 2017 to align regulatory and published financial statement requirements with IFRS 17, which becomes effective for life and non-life insurers. The amendments clarify that specific regulations apply to regulatory returns, published financial statements, or both, and mandate that segments comprising 10% or more of gross written premium be reported separately. Additionally, the rules require outstanding claims, claims incurred but not reported, and premium deficiency provisions to be measured according to actuarial valuation requirements notified by the Commission.
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