Theoretical and Practical Aspects of Implementing International Standards in Accounting for Insurance Liabilities

In the modern global financial environment, the insurance sector plays a crucial role in ensuring economic stability and risk mitigation. Insurance companies act as intermediaries, pooling resources to manage and transfer risks, which necessitates precise and transparent financial reporting. One of the central components of financial reporting in insurance organizations is the accounting for insurance liabilities, which reflects the obligations of insurers to policyholders. Accurate measurement and reporting of these liabilities are vital for ensuring the solvency of insurance companies, protecting policyholders’ interests, and maintaining public confidence in the financial system.