IFRS 17 – EMERGING HOT TOPICS FOR NON-LIFE INSURERS
April 30, 2019 | (6:00 AM EDT)
USA (United States of America)
Since the International Accounting Standards Board’s (IASB) adoption of International Financial Reporting Standard (IFRS) 17 - Insurance Contracts in May 2017, many across the insurance industry have been diving into the technical accounting interpretation and identifying the key threshold issues that impact decisions around data, operations, systems, and actuarial processes. For non-life insurers, in particular, the following 5 key topics have dominated conversations and conversion efforts: (1) eligibility for the simplified PAA measurement model and measurement of the liability for remaining coverage, (2) determining the level of aggregation, identifying onerous contracts, and measuring a loss component, (3) measuring the time value of money and risk adjustment, (4) evaluating contract boundaries and other key contractual features, and (5) examining the nuances associated with ceded reinsurance. This Webinar will focus on these key topics – introducing the challenges, how actuaries are getting involved, and some key observations.