GCC:Impact of IFRS 17 transition in 2Q2023 is a 3% dip in insurance revenue

By MEIR team | 24 Aug 2023

GCC Property & Casualty Financial Performance Life & Health Regulation

The impact of the transition to IFRS 17 on the insurance revenue of listed GCC insurers in 2Q2022 is a decrease of 3.0% which is likely the effect of a significant financing component, commissions that are not contingent on claims for assumed business and investment components (excluded from revenue as per IFRS 17), according to the "Q2 2023: GCC Performance Periodical" by Insurance Monitor, a platform that offers insurance information.

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