Tag: Sri Lankan insurers' regulatory capital positions drop on IFRS 16 adoption: Fitch

Dec 03, 2019 (LBO) – Sri Lankan insurers’ risk-based capitalisation (RBC) ratios have fallen with the adoption of new accounting standards for lease contracts; SLFRS 16, the local equivalent of IFRS 16, Fitch Ratings says. This is because right-of-use (RoU) assets recognised under SLFRS 16 are currently inadmissible under Sri Lanka’s RBC regime and are […]