The European Insurance CFO Forum (‘CFO Forum’) is a high-level discussion group formed and attended by the Chief Financial Officers of major European listed, and some non-listed, insurance companies. Its aim is to influence the development of financial reporting, value based reporting, and related regulatory developments for insurance enterprises on behalf of its members, who represent a significant part of the European insurance industry. The CFO Forum was created in 2002.
The issue of accounting standards has risen up the agenda in recent years and is the focus of discussion at a national and supra-national level. The decisions that are finally reached in relation to new standards are likely to have a significant impact on the day-to-day operations of the European insurance industry.
Whatever final decisions are made in relation to these and other, similar, standards the European insurance industry must be prepared to implement them in an orderly and transparent way. The CFO Forum therefore exists to help manage this process and ultimately helps provide stability, consistency and transparency for investors.
The CFO Forum’s activities are designed to be complementary to the national and supranational representative bodies of the insurance industry. The CFO Forum helps to provide a focus for practical discussions on the potential impact of any new standards. Its membership has significant experience of the finances of the European insurance industry and is therefore well placed to recognise the impact of new standards. In addition to understanding the impact, they will ultimately have responsibility for their implementation and providing leadership for that implementation.
The CFO Forum’s members believe they have a responsibility to ensure a smooth transition to any new standards that are developed and the CFO Forum is a visible incarnation of that responsible approach.
The CFO Forum meets every few months to discuss papers prepared by working groups made up of representatives from member companies.
Transparency Register Number: 675175020517-52