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International

Insurers call for delay in new accounting standards' implementation

April 17, 2019 Reprints

South Korean insurers are calling for a one-year delay in the introduction of new global accounting standards which are set to be introduced in 2022, The Korea Times reported. The new standards – dubbed IFRS 17 – require insurers to increase their cash reserves measure insurance liabilities by market value and not by book value.

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Insurers call for delay in new accounting standards' implementation

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