Analysts find insurers’ IFRS accounts wanting

Insurers’ financial statements are generally failing to meet the adequacy requirements of analysts, but European insurers are particularly lacking following their adoption of International Financial Reporting Standards (IFRS), according to the results of a new survey by PricewaterhouseCoopers. IFRS, which was intended to increase comparability and transparency for stakeholders such as analysts, has in fact widened the gap between information that would enable them to be more effective and the adequacy of the information they receive from firms.