The effect analysis of Taiwan’s life insurers under IFRS 17：Take SOLVENCY II for example

• Main Authors: CHIEH-JU TSAI, 蔡捷如
• Other Authors: 石百達
• Format: Others
• Language: zh-TW
• Published: 2019
• Online Access: http://ndltd.ncl.edu.tw/handle/aayeg4

碩士 === 國立臺灣大學 === 財務金融學研究所 === 107 === IFRS 17 is ready to be applied on 1st January 2025, so the purpose of this paper is to explore the possible impacts of life insurers in Taiwan after the mandatory effective date, and the preparation for its coming. Since 2016, EU countries has governed their insurers with SOLVENCY II as their solvency rules. The concepts of insurance liability construction under SOLVENCY II and IFRS 17 are similar; hence, I observed the insurance market condition of EU countries and then predicted the possible trends of insurers in Taiwan. In the beginning, I analyzed how the main issues of IFRS 17 affect the life insurers, including the level of aggregation, the profit recognition, and the discount curve construction. Next, through a hypothetical term life insurance product, I compared the differences between financial statements under IFRS 17 and the current financial statements, and looked into the reasons about these differences. Simultaneously, I presented the life insurance markets of Taiwan and EU countries, and then discussed the possible future trends. Due to the wide impact of IFRS 17, and the relevant analysis involving technical aspects hasn’t been decided in Taiwan, I make some suggestions, and also give the study directions to future researchers.