Delto Insurance Group plcIllustrative financial statements and selected disclosures for the year ended 31 December 2008 |
Deloitte Insurance Centre of Excellence (ICoE) has prepared a document which illustrates specific example disclosures typically expected to be found within a set of consolidated financial statements for a composite insurance group reporting under IFRS.
The aim is not to cover every potential disclosure and they are not "model" disclosures but rather an indication of the type of disclosure required. Owing to the pervasive nature of the reporting standards for insurance contracts (IFRS 4), financial instruments (IAS32/39) and disclosure thereof (IFRS 7), a number of disclosures will be affected throughout a set of financial statements. The amount of disclosure will depend on the underlying business, the extent and complexity of financial instruments and insurance contracts, and how they are managed.
The disclosures are based on IFRSs in force as at 31 October 2008 which are effective for years beginning on or after 1 January 2008. References are made to disclosures which might be associated with the credit crunch and the recent IASB pronouncements on financial instruments but further specific consideration by insurers will be needed.
For further information, please download our publication (PDF, 676 KB)
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Delto Insurance Group plc
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