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News from Arthur J. Gallagher & Co., Insurity Inc., Arch Insurance Europe and more. News from IMS, Everest, EY, SAP, and more. (Photo: Shutterstock)

EY Global Insurance announced a collaboration with SAP cloud-based data analytics in an approach EY says intends to help insurance organizations transform their financial reporting data, systems and processes required to comply with the industry’s new international and US reporting standards. The new standards are the International Accounting Standard Board’s (IASB) IFRS 17 and US GAAP Long Duration Targeted Improvements (LDTI). Effective Jan. 1, 2022 for large public organizations, these standards will fundamentally change how insurance companies recognize, measure, present and disclose insurance assets and liabilities, which may impact all aspects of businesses’ reporting processes.

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Danielle Ling

Danielle Ling is an experienced video journalist and business reporter. As associate editor, Danielle manages all multimedia and reports on industry news and risk-related coverage, managing all weather-related content. A University of Maryland and Philip Merrill College of Journalism alum, Danielle previously served as a video journalist for Verizon FiOS 1 News NJ, Push Pause. Connect with Danielle on LinkedIn or email her at [email protected].

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