Digital forms for insurance companies on the reporting portal updated in line with the requirements of the new IFRS 17

Digital forms for insurers have been updated in line with the new IFRS 17. 
The SARAS team worked with the regulator and audit firms in the process of updating the digital forms. Based on their feedback, new digital forms for insurance companies updated in line with the requirements of IFRS 17 are already available of the Reporting Portal (https://rms.reportal.ge/). 

Insurance companies shall apply the Standard when preparing financial statements for the 2023 and subsequent reporting periods. When submitting the report, the insurance companies must select the updated forms under the name “For Insurers (Updated)” on the reporting portal. 

As these digital forms are designed for statistical purposes, the existing edition may not be suitable for the specificities of all companies, but SARAS is ready to receive suggestions and take them into account, if necessary, to ensure the maximum sophistication of the digital forms and their compliance with the Standard. 
We would like to remind you that the reporting process for the 2023 reporting period has started and continues on an ongoing basis. 

Accountable entities are required to submit their reports, immediately, as soon as they are available, through the Reporting Portal: https://rms.reportal.ge/ 
Timely submission of reports is crucial for capital market development and improving access to finance. 

Do not wait for the deadline to submit your data. Submitting reports on time creates a reliable and transparent image for your organization, helps you find investors and increases the potential for a reliable partnership with the banking sector.