Core Viewpoint - The implementation of the new accounting standards for insurance contracts aims to align with international standards and improve the quality of financial statements in the insurance industry, while providing flexibility for companies facing difficulties in execution [1][3]. Group 1: Impact of New Accounting Standards - The new accounting standards will significantly affect the balance sheets and income statements of insurance companies, leading to changes such as the exclusion of investment components from the income statement, extended premium income recognition periods, and increased volatility in net assets [1]. - Different insurance companies will experience varying impacts; some may see increases in operating profit, net profit, and comprehensive income, while others may face declines in operating revenue, net profit, and net assets [1][2]. Group 2: Challenges and Adjustments - The Ministry of Finance and the Financial Regulatory Authority have issued a notice allowing insurance companies that face genuine difficulties to apply for a deferral of the new standards until June 30 [1][3]. - The implementation of the new accounting standards poses significant challenges for smaller insurance companies due to limited historical data, insufficient talent, and high costs of information system upgrades [2][3]. Group 3: Financial Implications - Based on the new accounting standards, five major listed insurance companies reported a decline in operating revenue but an increase in net profit for their 2022 annual reports [2]. - The implementation period for major insurance companies can take 18 to 24 months or longer, requiring substantial financial investment, which may be challenging for smaller firms [3].
考虑中小保险公司实际困难 保险业新会计准则获准“暂缓执行”空间
Shang Hai Zheng Quan Bao·2025-06-13 18:59