IFRS 9

Half-year 2022 results - The combination of the war in Ukraine, Natural Catastrophe events and the severe drought in Brazil affect SCOR’s profitability in H1 2022

Retrieved on: 
Thursday, July 28, 2022
Investment, Environment, Fear, Awareness, COVID-19, Insurance, PML4, Life, Climate change, Drought, Industry, Natural Resources, Solvency, EUR, Culture, Cornerstone, Property, Health, National Organization of Life and Health Insurance Guaranty Associations, OCI, IFRS 17, Income, Climate, Risk, Adoption, IFRS, IFRS 9, GWP, MSCI, Flood, P&C, OBS, SCOR, Assault, Positive economics, Broadridge Financial Solutions, Projection, ESG, ECL, Growth, L&H, Longevity, Risk management, Film, Reinsurance, Renewable energy, Pharmaceutical industry, Life insurance, Group

The combination of the war in Ukraine, Natural Catastrophe events and the severe drought in Brazil affect SCORs profitability in H1 2022.

Key Points: 
  • The combination of the war in Ukraine, Natural Catastrophe events and the severe drought in Brazil affect SCORs profitability in H1 2022.
  • The combination of these events has significantly affected SCORs results, leading to a net loss of
    EUR -239 million for the first half of 2022, of which EUR -159 million was incurred in the second quarter.
  • The reduced profitability notably reflects the cost of the claims related to the drought that impacted corn and soy crops in southern regions of Brazil.
  • SCOR is currently adopting a more selective approach in Reinsurance P&C Lines, however the H1 2022 GWP growth is still benefitting from recent underwriting years.

DGAP-News: Bank of Scotland plc: 2022 Half-Year Results

Retrieved on: 
Wednesday, July 27, 2022
Lloyds Banking Group, United Kingdom, London Stock Exchange, Risk, Income, COVID-19, News, HBOS, IFRS, IFRS 9, Financial Conduct Authority, Unemployment, Bank of Scotland, RNS, Reading, ECL, Growth, London, DGAP, Bank, Life insurance, Reinsurance, Lithium, Group

Bank of Scotland plc (the Bank) and its subsidiaries (together, the Group) provide a wide range of banking and financial services.

Key Points: 
  • Bank of Scotland plc (the Bank) and its subsidiaries (together, the Group) provide a wide range of banking and financial services.
  • Net fee and commission income for the period was 143 million compared to 125 million in the first half of 2021, reflecting improved credit and debit card performance.
  • Asset quality remains strong with sustained low levels of new to arrears, remaining below pre-pandemic levels.
  • The Group's severe scenario has been adjusted to include a higher UK Bank Rate, and higher inflation path, to better reflect the present risks.

DGAP-News: Corestate continues to drive transformation and again makes impairments in the Real Estate Debt segment

Retrieved on: 
Tuesday, June 14, 2022
Frankfurt Stock Exchange, IFRS, DGAP, Company, ESG, News, Group, IFRS 9, Stratos, Delft Aerospace Rocket Engineering, Risk, Financial Oversight and Management Board for Puerto Rico, HFS, Industry, Urbanization, Uncertainty, Communication, Security (finance), Bank

This is linked to an extension of valuation spreads for real estate across almost all risk and asset classes.

Key Points: 
  • This is linked to an extension of valuation spreads for real estate across almost all risk and asset classes.
  • On the corporate side, this raises the burdens on the operating business and results in an increase in valuation risks.
  • The aim is to achieve a structural adjustment of the Group by the end of the year, transforming it into an efficient and effective investment house with a focus on real estate equity and debt.
  • The company sees itself as a manager for the entire length of the real estate value chain.

DGAP-News: OLB reaps benefits of its streamlining measures starting with a strong financial performance into the year

Retrieved on: 
Thursday, May 5, 2022
Football, Development, FTE, CET, NII, Corporate bond, RWA, IFRS 9, Roe, EUR, OLB, Program, IFRS, LLP, Income, Oldenburgische Landesbank, Growth, NCI, Renewable energy, Bank

OLB has made significant progress through its continued focus on cost discipline and sustainable growth, with its restructuring program starting to show full effect.

Key Points: 
  • OLB has made significant progress through its continued focus on cost discipline and sustainable growth, with its restructuring program starting to show full effect.
  • Regarding the branch restructuring, OLB has already achieved the 2022 year-end target of 40 branches as of the end of March.
  • Strong financial performance with a well-balanced, streamlined business model
    Our strong first quarter results clearly underline that OLB delivers strong financial performance across all metrics.
  • OLB supports its strategic growth course by actively diversifying its refinancing base over and beyond the strong customer deposit base.

Top-ranked SAS wins three Chartis RiskTech100 categories

Retrieved on: 
Tuesday, December 14, 2021
Organization, Technology, Solution, Research, AML, Stratum, Waters (magazine), SAS Institute Inc v World Programming Ltd, IFRS, CECL, Intelligence, Name, SAS, POWER, Risk, Trademark, Annual report, Risk management, Efficiency, Financial technology, IFRS 9, Senior, Compliance, Architecture, Satellite navigation device, American International Group

CARY, N.C., Dec. 14, 2021 /PRNewswire/ --Chartis Research has again declared SAS a top risk and compliance technology provider in the Chartis RiskTech100 for 2022.

Key Points: 
  • CARY, N.C., Dec. 14, 2021 /PRNewswire/ --Chartis Research has again declared SAS a top risk and compliance technology provider in the Chartis RiskTech100 for 2022.
  • SAS Risk Stratum delivers an integrated risk management foundation, establishing a single source of the truth, along with a role-specific user experience, across SAS' risk solutions.
  • In addition to receiving high rankings in the Chartis RiskTech100, SAS is a category leader in the Chartis RiskTech Quadrant for Model Risk Management, 2021 .
  • SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries.

Investor Day 2021: SCOR builds on its global tier 1 reinsurer position and creates sustainable value for its stakeholders

Retrieved on: 
Wednesday, September 8, 2021

Investments: SCOR intends to reduce its excess liquidity from 16% to 9% by year-end and actively continues diversification into accretive value-creation assets.

Key Points: 
  • Investments: SCOR intends to reduce its excess liquidity from 16% to 9% by year-end and actively continues diversification into accretive value-creation assets.
  • The Group builds on its leadership position to seize the attractive long-term growth opportunities emerging from the fast-changing risk environment.
  • Leveraging the improving market conditions, in 2022, SCOR Global P&C expects to deliver stronger growth than provided for in Quantum Leap.
  • SCOR Global Investments delivers on its commitment to act as a responsible investor.

Engine Media Holdings, Inc. Reports Record Third Quarter Fiscal 2021 Financial Results

Retrieved on: 
Monday, July 26, 2021
Electronic Arts, Companies, Video game companies, California

NEW YORK, July 26, 2021 /PRNewswire/ --Engine Media Holdings, Inc. ("Engine" or the "Company"; NASDAQ: GAME; TSX-V: GAME), a gaming and next-generation media solutions company, today announced results for its fiscal third quarter 2021 ended May 31, 2021.

Key Points: 
  • NEW YORK, July 26, 2021 /PRNewswire/ --Engine Media Holdings, Inc. ("Engine" or the "Company"; NASDAQ: GAME; TSX-V: GAME), a gaming and next-generation media solutions company, today announced results for its fiscal third quarter 2021 ended May 31, 2021.
  • Our revenue continued to grow quarter over quarter to $9.6 million and we are excited for the future of the company."
  • Engine's revenue in the third quarter increased by 14.6% to $9.6 million up from $8.4 million in the previous quarter, and increased 29% from $7.5 million in the first quarter of current fiscal year.
  • Net income from continuing operations for the third quarter of 2021 was $6.2 million compared to a net loss of $27.4 million in the second quarter of 2021, and a net loss of $10.4 million in the third quarter last year.

Thailand’s BAAC to implement Wolters Kluwer’s OneSumX for IFRS 9

Retrieved on: 
Friday, July 16, 2021
Other Professional Services, Legal, Agriculture, Insurance, Natural Resources, Finance, Banking, Professional services, International Financial Reporting Standards, Accounting, Finance, Money, Financial regulation, Great Recession, Credit risk, IFRS 9, Wolters Kluwer, Accounting standard, IFRS 16

Thailands Bank for Agriculture and Agricultural Cooperatives (BAAC) has selected Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) to provide software for helping to ensure compliance with International Financial Reporting Standard (IFRS) 9.

Key Points: 
  • Thailands Bank for Agriculture and Agricultural Cooperatives (BAAC) has selected Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) to provide software for helping to ensure compliance with International Financial Reporting Standard (IFRS) 9.
  • The bank will use OneSumX IFRS 9 , a module of OneSumX for FRR, for managing its obligations around the accounting standard.
  • OneSumX IFRS 9 offers a solid framework combining lifecycle information on each individual financial instrument with a comprehensive set of IFRS 9 calculators.
  • YIP IN TSOI Co. Ltd (YIT), will provide professional consulting and services for the BAAC implementation, working collaboratively with Wolters Kluwer.

Moody’s Analytics Wins IFRS 9 Solution Provider of the Year

Retrieved on: 
Friday, March 5, 2021
Software, Insurance, Finance, Consulting, Data management, Accounting, Professional services, Technology, Service companies, Articles, Business, Credit risk, Business intelligence, Financial regulation, International Financial Reporting Standards, IFRS 9, Moody's Analytics, Analytics, Moody's Corporation

Moodys Analytics has won IFRS 9 Solution Provider of the Year in the 2021 Insurance Asset Risk Awards.

Key Points: 
  • Moodys Analytics has won IFRS 9 Solution Provider of the Year in the 2021 Insurance Asset Risk Awards.
  • It is the latest recognition for our capabilities in this space following wins for IFRS 9 Enterprise Solution of the Year and IFRS 9 ECL Modelling Solution of the Year at last years Risk Technology Awards.
  • The Moodys Analytics offering helps them access and use all of the required data while managing and monitoring their expected credit losses.
  • The last year has shown us how quickly expected credit losses under IFRS 9 can change, said Eric Ebel, Managing Director at Moodys Analytics.

Itaú Unibanco Holding S.A. Announcement to the Market

Retrieved on: 
Tuesday, February 2, 2021
Accounting, Finance, Economy, Financial regulation, International Financial Reporting Standards, Valuation, IFRS 9, Financial asset, Fair value, Available for sale, IFRS 7

2,682/99.9

Key Points: 
  • 2,682/99.9
    (b) Under IFRS, stocks and quotas classified as permanent investments were measured at fair value and its gains and losses were recorded directly in Result.
  • Additionally, there was a change in the model of classification and measurement of financial assets due to the new categories introduced by IFRS 9.
  • (c) Under IFRS, the effect of accounting at fair value of the acquisition of interest in Porto Seguro Ita Unibanco Participaes S.A. was recognized.
  • For comparison purposes, we present on the table below the Result and Recurring Result in IFRS and BRGAAP.