Insurers get June deadline to migrate to IFRS 17 finance reporting standard

The operators have been preparing and submitting their companies’ reports and accounts based on IFRS14 and are expected to be allowed to submit their 2022 report to NAICOM using the IFRS 14 model.

NAICOM, which at the meeting discussed other vital issues affecting insurance business in the country, also harped on the need for the directors and managers of various insurance firms to build public confidence through transparency in claims settlement.

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