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HKFRS/IFRS 17 Insurance Contracts

Supporting implementation of HKFRS/IFRS 17 Insurance Contracts



In May 2017, the International Accounting Standards Board (IASB) issued IFRS 17 Insurance Contracts. The HKICPA's Financial Reporting Standards Committee (FRSC) approved HKFRS 17 Insurance Contracts in December 2017. For more details on HKFRS 17, click here.


In June 2019, the IASB issued the ED Amendments to IFRS 17, which introduced targeted amendments to IFRS 17 designed to address issues raised during implementation. More information about these amendments can be found at the IASB’s website.
The Institute issued an Invitation to Comment on the IASB ED on 27 June 2019. The Institute undertook significant outreach activities with stakeholders, including holding several roundtables, and developed its response to the IASB ED by considering feedback from stakeholders and its FRSC.


The Institute’s comment letter in response to the IASB ED was submitted on 25 September and can be found at the Institute’s website.

Current status


The IASB finalized and issued the Amendments to IFRS 17 in June 2020. More information is available on the IASB’s website

In October 2020, after robust due process, the HKICPA’s FRSC finalized endorsement of, and issued, equivalent Amendments to HKFRS 17. 


How are we supporting implementation of HKFRS 17?


HKICPA is committed to monitoring HKFRS 17 implementation developments in Hong Kong and internationally, facilitating discussions with the industry, and working together with the industry and the IASB in resolving any challenges. The HKICPA hosts the Hong Kong Insurance Advisory Panel (HKIAP) that provides a forum to discuss stakeholder questions and identify implementation issues related to HKFRS 17. We welcome the public to register as an observer or submit a question to the HKIAP.


Since July 2017, HKICPA has been providing training on IFRS 17 for industry professionals to develop an in-depth knowledge of the standard. E-mail for more information.

Please see a list of the Institute’s upcoming training for HKFRS 17 here.



Keep in touch with developments on HKFRS 17


Sign up for the Institute’s HKFRS/IFRS 17 Insurance Contracts newsletter by emailing


Major international collaboration and contribution events

Key examples of enhanced implementation support for Hong Kong stakeholders





Last updated: 18 March 2024