by Mohammed Awadalkareem Almobarak Ali
ABSTRACT
The adoption of International Financial Reporting Standard 17 (IFRS 17) has significantly reshaped insurance accounting practices worldwide, including in Saudi Arabia. The study investigates the impact of IFRS 17 on the financial performance of Saudi insurance companies. The research relies on audited annual reports of Saudi insurance companies listed on the Saudi Exchange (Tadawul), regulatory publications issued by the Saudi Central Bank (SAMA), and publicly accessible industry data released by international accounting firms. A comparative analysis is conducted by examining key financial performance indicators such as profitability ratios, equity levels, underwriting results, and solvency measures before and after the implementation of IFRS 17. Descriptive and trend analyses are used to assess changes in financial reporting outcomes attributable to the new standard. The findings suggest that IFRS 17 has altered the timing and presentation of revenue and profit recognition, leading to observable changes in reported earnings volatility and equity positions. While the transition introduced short-term reporting fluctuations, the standard enhanced transparency, comparability, and consistency in financial disclosures across insurance companies. The study contributes empirical evidence on the financial impact of IFRS 17 and provides insights relevant to regulators, investors, and policymakers in the Saudi insurance market.
