Even to those tasked with understanding it, the insurance industry can seem opaque. After in-depth interviews with 43 financial analysts who cover the insurance sector, New York-based PricewaterhouseCoopers finds a widespread dissatisfaction with the current insurance financial reporting framework.
The report, “Making Sense of the Numbers,” details what analysts say they believe is inadequate disclosure of relevant information on balance sheets, income and cash flow statements, as well as management’s discussion and analysis. Indeed, a consensus emerged for a new, insurance-specific reporting structure that reflects the economic realities and unique underlying business model of insurance companies.
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