Taiwan FSC Plans Insurer Reporting Overhaul for IFRS 18

IFRS 18, issued by the International Accounting Standards Board, will reshape how companies present and disclose financial performance, including the structure of profit-and-loss statements and specified subtotals. Taiwan plans to adopt the standard from the 2028 financial year, a change aimed at making insurers’ results more transparent and easier to compare across companies and international markets.

Taiwan’s Financial Supervisory Commission has proposed amendments to the Regulations Governing the Preparation of Financial Reports by Insurance Enterprises ahead of the 2028 implementation. The revisions would reorganize income-statement presentation and expand related disclosures, affecting 43 domestic insurers. Companies will need to adjust accounting classifications, reporting systems and internal processes before the new framework takes effect.