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Accounting Rules May Boost Costs For Insurers, Fitch Warns

Law360, London (January 29, 2018, 1:59 PM GMT) -- New international accounting standards set to come into force in 2021 could increase the cost of capital for European insurers as they adapt to the new rules, a major credit ratings agency has warned.

Fitch Ratings said on Friday that 39 percent of the people it surveyed in London believe the International Financial Reporting Standard 17, known as IFRS 17, would increase insurers’ capital costs and deter those looking to invest in the insurance sector.

Only 13 percent of those surveyed by Fitch believed the new...
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