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Insurance Advisory Panel





HKFRS 17 Insurance Contracts represents a fundamental change to existing practice for most entities issuing insurance contracts. In view of the magnitude of the change, the Institute will support implementation of HKFRS 17 through a variety of activities—including establishing a Insurance Advisory Panel1.


The objectives of the Insurance Advisory Panel are to:



solicit, analyse, and discuss stakeholder questions raised regarding implementation of HKFRS 17;

(b) provide a forum for stakeholders to follow the discussion of questions raised;
(c) identify implementation issues which need to be brought to the attention of the IASB's Transition Resource Group on IFRS 17 Insurance Contracts;
(d) identify areas of focus for educational activities; and
(e) provide recommendations for the Institute's Financial Reporting Standards Committee (FRSC) to consider, which may include submitting a question to the IFRS Interpretations Committee or writing to the IASB.
The Insurance Advisory Panel will have no authority—no decisions, interpretation or guidance will be issued by the Insurance Advisory Panel.


How to submit a question


Questions may be submitted by those implementing the new standard. The questions must meet the following criteria:


must be focussed on, or arise from, implementing HKFRS 17; and


may result in possible diversity in practice—any question submitted should include a detailed description of the possible ways in which HKFRS/IFRS 17 could be applied.

Once you have determined your question meets the criteria for submission, please complete the submission form (PDF / Word) and email it to  Your question must include the following details: 

what the question is

background to the question; and


why it is being asked (for example, does the question arise because: it is unclear how to apply a specific requirement in the standard; there is an inconsistency within the standard or with other HKFRS standards; or the requirements of the standard is impracticable, etc.)


Incomplete or irrelevant submissions may not be noted nor discussed at Insurance Advisory Panel meetings.


Submissions should be received at least 3 weeks prior to the Insurance Advisory Panel meeting.



 For reference:

Australian TRG

 file/media/general/SMP-and-SME-Resource-Centre/901BTRIBe.gif Canadian TRG



1 Formerly known as Hong Kong Insurance Implementation Support Group.