Implementation Guidance to accompany FRS 103 Insurance Contracts
Published: 10 September 2024
2 minute read
This Implementation Guidance accompanies, but is not part of, FRS 103 Insurance Contracts. Accordingly, it does not carry the authority of an accounting standard and shall not be regarded as mandatory. It provides guidance on applying:
- the requirements of FRS 103;
- the requirements or principles of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland by entities with general insurance business or long-term insurance business; and
- the requirements of Schedule 3 to the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 (SI 2008/410)
The Table of Differences describes the relationships between UK and Ireland financial reporting standards and IFRS Accounting Standards.
Related impact assessments and feedback statements to the following publications.
Current edition
| Name | Implementation Guidance to accompany FRS 103 Insurance Contracts (September 2024) |
|---|---|
| Publication date | 10 September 2024 |
| Type | Guidance |
| Notes | The September 2024 edition of the implementation guidance incorporates all amendments issued up to September 2024. |
| Format | PDF, 386.5 KB |
Superseded editions
| Name | Implementation Guidance to accompany FRS 103 Insurance Contracts (January 2022) |
|---|---|
| Publication date | 31 January 2022 |
| Type | Guidance |
| Notes | The January 2022 edition of the implementation guidance incorporates all amendments issued up to January 2022. |
| Format | PDF, 1.5 MB |
| Name | Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and other FRSs – Periodic Review 2024 |
| Publication date | 27 March 2024 |
| Type | Amendment |
| Format | PDF, 31.2 KB |
| Name | Implementation Guidance to FRS 103 Insurance Contracts (March 2018) |
|---|---|
| Publication date | 28 March 2018 |
| Type | Guidance |
| Format | PDF, 349.8 KB |
| Name | Amendments to UK and Republic of Ireland accounting standards - UK exit from the European Union |
| Publication date | 21 December 2020 |
| Type | Amendment |
| Format | PDF, 726.6 KB |
| Name | Implementation Guidance to accompany FRS 103 Insurance Contracts (February 2017) |
|---|---|
| Publication date | 1 February 2017 |
| Type | Guidance |
| Format | PDF, 347.1 KB |
| Name | Letter from the Department of Business, Energy and Industrial Strategy to the FRC – Solvency II clarification |
| Publication date | 3 February 2017 |
| Type | Letter |
| Format | PDF, 98.0 KB |
| Name | Implementation Guidance to accompany FRS 103 Insurance Contract (March 2014) |
|---|---|
| Publication date | 20 March 2014 |
| Type | Guidance |
| Format | PDF, 378.8 KB |
| Name | Amendments to FRS 103: Insurance Contracts - Solvency II |
| Publication date | 26 May 2016 |
| Type | Amendment |
| Format | PDF, 369.0 KB |