IFRS 4 Insurance Contracts is the result of Phase I of the Insurance Contracts project. It is an interim standard that permits a wide variety of previous accounting practices for insurance contracts to continue until phase II is complete. Users of insurers’ financial statements find it difficult to understand and compare those practices. The IASB, jointly with the FASB, is undertaking Phase II of this project to develop a standard that will replace IFRS 4.

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Project news

30 July 2010 Podcast to introduce the Exposure Draft Insurance Contracts. Click here for the press release.

30 July 2010 The IASB publishes the Exposure Draft Insurance Contracts.

30 July 2010 Updated version of Decisions at a Glance is available.

Click here  to see all previous project news on this project.

Last IASB meeting update

19 July 2010 At this meeting the boards discussed: unbundling; three follow up issues on unit linked contracts; the measurement approach for short-duration contracts; and the release of the residual margin for investment contracts with a discretionary participating feature (DPF).

Click here to view the full update and to access all previous IASB updates on this project.

Click here to listen to the IASB meeting audio playback.

Next discussion by the IASB

The boards expect to resume discussion of the Insurance Contracts project after the expiry of the comment period (30 November 2010).