Third year of IFRS 17 reporting
FY25 marked the third year of reporting under IFRS 17 in Australia. This publication compares the disclosures made by a selection of Australian life (8) and general (9) insurers, including both direct writers and reinsurance companies, in their annual financial statements for FY25.
These statements were mostly published in the first quarter of 2026, while others with June year-end reporting were published in the second half of 2025.
The publication also explores emerging developments relating to the future Post-Implementation Review (PIR) of IFRS 17 and how finance functions are evolving beyond implementation through automation, analytics and finance transformation initiatives.
Insights from year three of IFRS 17 reporting
"The third year of IFRS 17 reporting was notably smoother for most insurers, with the focus rightly shifting from accounting to performance. Looking ahead, finance teams are focusing on how they can effectively support business performance by leveraging data and technology and harnessing the experience and knowledge of their people. Any Post-Implementation Review of IFRS 17 is still some way off and experience from other reviews suggest that significant changes to IFRS 17 would be unlikely."
Antonie JaggaPwC Australia, Insurance LeaderThis publication has been prepared exclusively using publicly available financial information. Its primary objective is to present the range of approaches adopted across the industry through a comparison of a selection of companies. This publication is purely informational and does not contain any opinions or subjective interpretations.
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