EU Insurers Exempted From Controversial Reporting Rule

By Lucia Osborne-Crowley (November 23, 2021, 3:31 PM GMT) -- European insurers have given their support to a decision by the bloc's lawmakers to grant an exemption for the insurance sector from a controversial rule in a package of sweeping reforms to the global financial reporting regime that became law in the bloc on Tuesday.

The decision by the European Union to give insurers an option to exempt some of their contracts from a controversial new requirement forcing them to pool insurance contracts into so-called annual cohorts — and show profit and loss on those contracts to investors for a specific year — will benefit the industry, Insurance Europe, a trade...

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