可暂缓执行或简化处理！中小险企会计准则切换迎“喘息”

Core Viewpoint - The article discusses the upcoming transition to the new insurance contract accounting standards in China, highlighting the challenges faced by small and medium-sized insurance companies and the implications for the industry as a whole [2][4][6]. Summary by Sections Background of the New Standards - The new insurance contract accounting standards were revised and issued by the Ministry of Finance in December 2020, set to take effect for certain companies starting January 1, 2023, and for others by January 1, 2026 [4]. - Major insurance companies like China Life and China Ping An have already implemented these new standards, with 27 life insurance companies reported to have adopted them by the end of Q1 2025 [4][6]. Challenges for Small and Medium-sized Insurers - The implementation of the new standards poses significant challenges for small and medium-sized insurance companies, including high costs estimated to exceed millions of yuan, and difficulties in adapting to the new requirements [5][6][9]. - The transition to the new standards is expected to increase the sensitivity of insurance companies' performance to interest rates, which could adversely affect those already facing solvency issues [9]. Regulatory Response and Simplification Measures - The Ministry of Finance and the financial regulatory authority have issued a notice allowing companies facing difficulties to apply for a delay in implementing the new standards until June 30, 2025 [2][12]. - Simplified processing options have been introduced for non-listed companies to ease the transition, focusing on reducing implementation costs while maintaining accounting information quality [14][15]. Specific Simplifications in the New Standards - The simplifications include adjustments in the grouping and recognition of insurance contracts, measurement of insurance contracts, and disclosure requirements, aimed at making the transition more manageable for smaller firms [16][17].