From IFRS 4 to IFRS 17: Evolution, Implementation, and Impact on Generali Group's Consolidated Financial Statements.

The thesis explores IFRS 17, the International Financial Reporting Standard for insurance contracts, which became effective on 1 January 2023, marking a significant shift in financial reporting for the insurance sector. The research begins by tracing the standard's evolution, delving into its regulatory framework and the International Accounting Standards Board's (IASB) approval process. A comprehensive review of IFRS 4, the predecessor to IFRS 17, is conducted to outline its main characteristics and identify its limitations, which prompted the IASB to develop a more robust accounting framework. The study highlights how IFRS 17 addresses these shortcomings, introducing a consistent approach to recognizing, measuring, and presenting insurance contracts while improving transparency and comparability across companies. The thesis further examines the practical implementation of IFRS 17 through a detailed analysis of its impact on the 2023 consolidated financial statements of the Generali Group. A comparative evaluation is conducted between the 2023 financial statements under IFRS 17 and the 2022 financial statements prepared in accordance with IFRS 4. This comparison highlights key changes, including the standard’s influence on profit and loss metrics and financial disclosures. By focusing on Generali Group as a case study, the research provides valuable insights into the broader implications of IFRS 17 for the insurance industry, showcasing how it financial reporting reliability and stakeholder decision-making.