🇦🇪UAE
عدم الوفاء بمتطلبات IFRS 17
2 verified sources
Definition
IFRS 17 shift caused underwriting volatility; net profits fluctuated despite revenue growth, with some firms dipping 1520%.
Key Findings
- Financial Impact: AED 10M drop in aggregate insurance service results; up to 1520% profit dips[1][3]
- Frequency: Annual financial close
- Root Cause: Manual binding without IFRS 17 contract boundary checks
Why This Matters
This pain point represents a significant opportunity for B2B solutions targeting Insurance Agencies and Brokerages.
Affected Stakeholders
Finance Controllers, Compliance Officers
Deep Analysis (Premium)
Financial Impact
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Current Workarounds
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Methodology & Sources
Data collected via OSINT from regulatory filings, industry audits, and verified case studies.
Related Business Risks
فقدان القدرة بسبب ضعف الأداء التأميني
2-5% premium loss from underwriting weakness and queues (industry logic)[1]
تدهور نسبة الخسائر الطبية
AED 190M loss in H1 2024 for single firm; industry insurance service result drop AED 12M[3]
ارتفاع تكاليف الإعادة التأمين
AED 10-20M per major reinsurer renewal in cost increases[2]
عدم الامتثال لإصدار الفاتورة الإلكترونية في الاقتباسات
AED 10,000-50,000 per violation + 5% VAT penalties
غرامات عدم الامتثال لاحتفاظ الأموال التأمينية
AED 20,000 - 100,000 per audit failure; license revocation risk halting operations (est. 1-3% revenue loss for non-compliant brokers)
تكاليف إعادة العمل بسبب أخطاء التعديلات السياسية
AED 5,000 - 15,000 per major error (refunds + 20-40 hours rework at AED 200/hr)
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