Briefing / IFRS 17 Insurance contracts

Impact on organisations that are not insurance companies

27 October 2023 Debbie Paterson
1 CPD hour

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NHS bodies will be required to apply international financial reporting standard (IFRS) 17 Insurance contracts  from 1 April 2025.

The standard applies to all insurance contracts no matter who issues them. So, NHS bodies will need to demonstrate that they have considered the new standard and have satisfied themselves that they have not issued any insurance contracts. 

This briefing sets out how NHS bodies might want to approach the adoption of the new standard.

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