APAC regulatory developments
Regulatory developments within the APAC area are displaying progress with IFRS 17 implementation, though timelines differ throughout jurisdictions. South Korea, Hong Kong, Malaysia, Singapore, Australia, and New Zealand launched IFRS 17 in January 2023, whereas different markets have prolonged deadlines to 2025 and past. Solvency regimes are additionally evolving throughout the area, with Hong Kong RBC launched in 2024, Korea ICS in 2023, and China-ROSS II in 2022.