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Insurers’ adjusted operating profit
Historical and new challenges caused by the implementation of IFRS 17
Historically many UK insurers have widely disclosed adjusted operating profit (‘AOP’) as a management KPI to present their IFRS result cleared of any one-off effects and volatility. We have analysed the accounts of 10 largest UK insurers noting that all of them currently use the concept of adjusting operating profit in their IFRS accounts.
Read our detailed overview of how insurers can improve their AOP framework and prepare for the adoption of new standards.
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Vitalina Kobernik Audit Director - FS Insurance
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IFRS17 Insurance contracts
Insurers are expected to apply IFRS 17 for the recognition, measurement, presentation and disclosure of insurance contracts, which will affect many aspects of their day to day operations.