Over recent weeks, a number of bodies have commented on the International Accounting Standards Board's (IASB) revised Exposure Draft on Insurance Contracts.The IASB has been praised by each of EIOPA, the European Securities and Markets Authority (ESMA) and the European Financial Reporting Advisory Group (EFRAG) on its efforts to develop a consistent, global and all-inclusive standard of financial reporting and accounting standards. However, there were shared concerns in respect of certain proposals contained in the exposure draft and EIOPA, ESMA and EFRAG have all outlined areas for further consideration.Those areas include (a) discount rates, (b) accounting treatment for reinsurance contracts and (c) disclosure of minimum capital requirements.