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 Duration 21 hours

Course Outline

Overview of IFRS 17

  • Objectives and applicability of IFRS 17
  • Core concepts and terminology
  • Differences from IFRS 4

Accounting for Insurance Contracts under IFRS 17

  • Identification and classification of insurance contracts
  • Units of account and portfolio grouping considerations
  • Distinguishing insurance from non-insurance elements

Measurement Frameworks

  • General Measurement Model (GMM)
  • Premium Allocation Approach (PAA)
  • Variable Fee Approach (VFA)

Financial Reporting and Disclosure Requirements

  • Presentation of insurance contracts in financial statements
  • Specific disclosure mandates under IFRS 17
  • Data infrastructure and system needs for adherence

Evaluating IFRS 17 Implications

  • Influence on financial results and profitability metrics
  • Consequences for insurer capital positions and risk oversight
  • Practical examples of IFRS 17 adoption

Execution Challenges and Recommended Practices

  • Operational and technological hurdles
  • Cross-departmental cooperation and governance structures
  • Insights from organizations that adopted early

Sustaining Compliance and Long-Term Viability

  • Keeping pace with evolving regulatory standards
  • Tracking contract performance in line with IFRS 17
  • Strategic moves to enhance transparency and market competitiveness

Recap and Future Actions

Requirements

  • A solid grasp of fundamental accounting principles
  • Familiarity with financial statements and reporting processes
  • Background knowledge in insurance or financial services is advantageous

Target Audience

  • Insurance companies
  • Controllers
  • Financial analysts
  • Actuaries
  • Auditors
  • Accountants and finance specialists

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Testimonials (4)

Provisional Upcoming Courses (Require 5+ participants)

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