All articles by Ronan McCaughey

Ronan McCaughey

Demand for insurance accounting rules convergence

This noted that a total of 47% of respondents said they want the US to abandon its national accounting standards in favour of International Financial Reporting Standards (IFRS). Over the last decade, the study explained that approximately 100 countries around the world have adopted the IFRS accounting framework that aims to enable companies to produce financial statements that investors in all the main capital markets can understand

Weighing up the impact of a Greek tragedy

Italian and Spanish insurers are most exposed if Greece exits from the eurozone, through the contagion effect it could have on Italian and Spanish sovereign and bank debt, says Fitch Ratings. Federico Faccio, senior director for insurance at the rating agency, explains that Italian insurers have considerably more exposure to their own sovereign debt than is the case with Spanish insurers However, Spanish insurers are more exposed to the domestic banks, some of which may be reliant on the sovereign debt for support.