财政部、金融监管总局印发通知进一步加强对企业实施新保险合同会计准则的指导财会〔2025〕12号及答记者问

Core Viewpoint - The notification aims to further guide the implementation of the new insurance contract accounting standards, enhancing the quality of financial reporting in the insurance industry and promoting high-quality development [12][18]. Implementation Arrangements - Companies listed both domestically and internationally, as well as those listed only abroad that adopt international financial reporting standards, must continue to implement the new insurance contract accounting standards from January 1, 2023. Other companies must comply by January 1, 2026, unless they submit a written request for a delay by June 30, 2025 [2][15]. - Companies that have already adopted the new standards prior to this notification must report their early adoption by June 30, 2025 [2]. Simplified Processing for Non-Listed Companies - Non-listed companies can choose to adopt simplified accounting policies when first implementing the new standards, effective from January 1, 2025 [3][15]. - Simplified processing includes grouping and recognition of insurance contracts, measurement, and reporting requirements [17]. Grouping and Recognition - Companies can assess the profitability of insurance contracts using updated market variables and reliable data, with annual updates required [3]. - Cash flows related to insurance acquisition can be allocated to the relevant contract groups without recognizing them as assets [3][4]. Measurement - Companies may separate certain cash flows from insurance contracts and measure them as financial assets or liabilities, while still applying the new standards for reporting [5][6]. - Non-listed companies can use industry-related information for measuring non-financial risk adjustments if reliable data is not available [5][6]. Reporting - If the net amount of reinsurance assets does not exceed 30% of the net insurance liabilities, companies may omit certain disclosures related to reinsurance [8][9]. - Companies can choose not to disclose certain amounts related to policyholder claims if they provide the total cash value of all life insurance business [9][10]. Transition Provisions - Companies can report comparative information for the most recent accounting year under the new standards without disclosing certain risk-related comparisons [9]. - Non-listed companies must consistently apply the simplified processing across all contracts within the scope of the new standards [10]. Organizational Implementation - The implementation of the new standards is crucial for accurately reflecting the financial status and operational results of insurance companies, thereby enhancing the quality of accounting information [10][18]. - Companies are encouraged to prepare for the transition by improving business processes, information systems, and training personnel [10][18]. - The Ministry of Finance and the Financial Regulatory Bureau will monitor the implementation and provide ongoing guidance [10][18].