ESMA IFRS 17 Guidance

ESMA issued the attached guidance on disclosures around IFRS 17. The guidance includes the following:

In respect of 2022 interims - "ESMA expects that, for most issuers, reasonably estimable information relevant to assessing the possible impact of the application of IFRS 17 will be available at the time of preparation of their 2022 half-year financial statements and with increasing level of detail as the end of the 2022 annual reporting period approaches."
In terms of 2022 financial statements - "ESMA expects that the 2022 annual financial statements provide the quantitative impact of the application of IFRS 17 and explain the changes compared to the amounts reported under IFRS 4, disaggregated as appropriate".
In terms of uncertainty of interpretations - "such uncertainty does not preclude disclosures under IAS 8 of a reasonable estimate of the possible impacts".
It includes some good disclosure practices to consider.

The full document can be accessed here.