Is IFRS 17 threatening captive innovation?  

• Captives must understand what constitutes insurance contracts 
• Captives should value direct risk and reinsurance separately 
• Asia Pacific domiciles conforming most tightly to IFRS 17 reporting standards 
• Singapore implementation increases bureaucracy with no added benefit 

The implementation of IFRS 17, particularly in certain jurisdictions, has had significant implications on the way insurance contracts are valued with some commentators suggesting it is stifling experimentation and innovation. 

IFRS 17 is an International Financial Reporting Standard (IFRS) that replaced IFRS 4 and has been implemented by the International Accounting Standards Board (IASB) and provides new insurance contract guidelines.