FRS 103 Insurance Contracts
This FRS consolidates existing financial reporting requirements and guidance for insurance contracts. Entities that are applying FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, whether or not they are ‘insurance companies’, shall also apply this FRS to insurance contracts (including reinsurance contracts) that the entity issues and reinsurance contracts that the entity holds, and to other financial instruments that the entity issues with a discretionary participation feature.
Related impact assessments and feedback statements to the following publications.
From 1 January 2021
Amendments to UK and Republic of Ireland accounting standards - UK exit from the European Union (PDF)
From 1 January 2019 (early application permitted)
FRS 103 Insurance Contract (March 2018) (PDF)
Implementation Guidance to FRS 103 Insurance Contracts (March 2018) (PDF)
Triennial review 2017 amendments (PDF)
FRS 103 Insurance Contracts (Feb 2017) (PDF)
Implementation Guidance to accompany FRS 103 Insurance Contracts (Feb 2017) (PDF)
Letter from the Department of Business, Energy and Industrial Strategy to the FRC – Solvency II clarification dated 3 February 2017 (PDF)
Amendments to FRS 103 Insurance Contracts – Solvency II (PDF)
FRS 103 Insurance Contracts (Mar 2014) (PDF)
Implementation Guidance to accompany FRS 103 Insurance Contracts (Mar 2014) (PDF)