How do IFRS 17 and IFRS 9 interact?

The way we present the Allianz Group financial statements will change in the future. Two new accounting standards, IFRS 17 for insurance contracts and IFRS 9 for financial instruments introduce fundamental changes. Our previous clips have focused on the mechanics of the two standards IFRS 17 ( • Introducing IFRS 17 ) and IFRS 9 ( • Understanding IFRS 9 ).
This video clip will now display the dependency and interaction of the two standards.
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The Allianz Group is one of the world's leading insurers and asset managers with more than 88 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing over 660 billion euros on behalf of its insurance customers while our asset managers Allianz Global Investors and PIMCO manage more than 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2017, over 140,000 employees in more than 70 countries achieved total revenues of 126 billion euros and an operating profit of 11 billion euros for the group.
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