Copyright © Inderes 2011 - present. All rights reserved.
  • Latest
  • Markets
    • Stock Comparison
    • Financial Calendar
    • Dividends Calendar
    • Research
    • Articles
  • inderesTV
  • Forum
  • About Us
    • Our Coverage
    • Team
Regulatory press release

SEB publishes restated comparative figures for 2022

SEB
Download the release

SEB publishes restated comparative figures for the year 2022 to reflect the implementation of the new standard IFRS 17 Insurance Contracts, which replaces IFRS 4 Insurance Contracts for annual periods on or after 1 January 2023. As the standard requires comparative information for the annual reporting period immediately preceding the date of initial application, the transition date of IFRS 17 is 1 January 2022.

On adoption, IFRS 17 changed the measurement of insurance contracts and participating investment contracts. The group will restate comparative information for 2022 in the reports for 2023. The effects of adopting IFRS 17 is recognised 1 January 2022 as a reduction of retained earnings of SEK 0.3bn. The changes have reduced net profit by SEK 112m for the full year 2022 and had a marginal effect on capital adequacy. The changes impact division Life and the Group.

There is no significant impact on the balance sheet, although the new standard also introduces new estimates and judgements that affect the measurement of insurance liabilities. Measurement of the liability for incurred claims (previously claims outstanding and incurred-but-not-reported claims) is determined on a discounted probability-weighted expected value basis and includes an explicit risk adjustment for non-financial risk. The new standard is not applied by the parent company.

The restated comparative figures are available here (https://sebgroup.com/investor-relations/reports-and-presentations/restatements).

Please see note 51 in the Annual Report 2022 for more information about transition effects from the implementation of IFRS 17.

Find us on social media
  • Inderes Forum
  • Youtube
  • Facebook
  • X (Twitter)
Get in touch
  • info@hcandersencapital.dk
  • Bredgade 23B, 2. sal
    1260 København K
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Terms of service
  • Privacy policy
  • Disclaimer
Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.