What is the Commission’s response to concerns over mismatches under IAS 39 between accounting for assets and liabilities in the insurance sector?
The Commission is aware that there is a mismatch issue between assets and liabilities in the insurance sector, which will be dealt with in the Phase II of the Insurance Project. In addition, the International Working Group on Insurance that has recently been established by the IASB will examine the application of IAS 39 with respect to insurance companies. The Commission will evaluate the situation after having seen the outcome of this working group.
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