Swiss Re has decided to adopt International Financial Reporting Standards ("IFRS") for its consolidated financial statements as of January 1, 2024.
The Swiss Re Group, which is headquartered in Zurich, Switzerland, comprises Swiss Re Ltd (the parent company) and its subsidiaries.
Currently, the consolidated financial statements of Swiss Re Ltd ("SRL"), Swiss Reinsurance Company Ltd ("SRZ"), and Swiss Re Corporate Solutions Ltd ("SRCS) are prepared in accordance with U.S. Generally Accepted Accounting Principles ("US GAAP").
The boards of directors of SRL, SRZ, and SRCS decided that as of January 1, 2024, their consolidated financial statements will be prepared in accordance with IFRS. Financial statements for periods ending on or prior to December 31, 2023 will continue to be prepared in accordance with US GAAP, Swiss Re confirmed.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].