ICAEW.com works better with JavaScript enabled.

Accounting for the insurance industry

Accounting for the insurance industry is a specialist area that requires expertise and an understanding of the sector. On this page you can access a range of articles, books and online resources providing quick links to practical guidance and background knowledge, including the Statement of Recommended Practice on Accounting for Insurance Business.

What's on this page?

  • Statements of Recommended Practice
  • Useful links
  • Online articles
  • Books and articles from the library

Contact the Library

Expert help for your enquiries and research.

E  library@icaew.com

T  +44 (0)20 7920 8620

Statements of Recommended Practice

Full text sources for the SORP and associated guidance

ABI Statement of Recommended Practice on Accounting for Insurance Business
Full text of the SORP issued by the Association of British Insurers, as published on 20 December 2005 and amended on 21 December 2006.

The accounting standard FRS 103 issued in March 2014 states that the ABI SORP will be withdrawn ‘once FRS 103 is effective’ for accounting periods beginning on or after 1 January 2015.

Useful links

Illustrative financial statements for a general insurance group
Consolidated financial statements produced by PWC for a fictional insurance group applying FRS 102 and FRS 103, with year end 31 December 2015. Includes an illustrative auditor's report.

Insurance Reporting Round-up: Survey based on the 2013 year-end results of major European insurers
Report from KPMG presenting the results of a survey of financial statements of major European insurance groups.

Online articles

The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use. 

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

Articles and books in the Library collection

To find out how you can borrow books from the Library please see our guide to book loans. You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

Can't find what you are looking for?

If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by web chat or by email at library@icaew.com.

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.