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20 Jun 2017

Webinar: Update to Understanding IFRS 4, Phase 2 Seminars in 2016

In Spring 2016 the EAA held two Seminars “Understanding IFRS 4, Phase 2”. These seminars were developed with the principles regarding the new IFRS guidance for insurance contract at the time. In the course of the last 12 months the IASB has continued its deliberations on the topic and the final standard is expected to be issued in the second half of May 2017.

Whilst the overall principles have been confirmed some important details were amended. The Webinar offers all participants of the 2016 seminars a 2-hour update. The Webinar will not provide for a stand-alone introduction to IFRS 17, but will focus on key developments. It is thus suitable for participants of last year’s two-day seminars.

The Webinar will cover among other things:

  • Grouping of contracts (the Unit of Account)
  • Subsequent Measurement of the CSM
  • Transition Guidance
  • Direct Participation Business / Variable Fee Approach

Organised by the EAA - European Actuarial Academy GmbH.


The webinar is open to all participants of the seminars “Understanding IFRS 4, Phase” held in 2016 in Copenhagen and Budapest.

Technical requirements and test session
Please check with your IT department if your firewall and computer settings support webinar participations (the programme GoToWebinar is used for the webinar). Please also make sure that you are joining the webinar with a stable internet connection. 

On 13 June 11:00 – 11:30 CEST there will be a test session offered to all registered participants to test the software. Participation is voluntary but recommended.

Purpose and Nature

The aim of this webinar is to provide participants with an Update of the developments in IFRS 4, Phase II (now expected to be issued as IFRS 17) since the 2016 seminars. The webinar will cover all major changes to and clarifications of the guidance discussed in 2016.


The language of the webinar will be English.


Stephan Otzen
Stephan Otzen is founder and Managing Partner of Wort & Zahl Unternehmensberatung, a Hamburg (Germany) based actuarial consulting firm focussed on actuarial accounting and valuation. He held the 2016 “Understanding IFRS 4, Phase II” Seminars.

Stephan has more than 15 years of experience with implementing and auditing of new accounting standards. He began his career at a Big 4 Audit Firm, where he supported various insurance groups with implementing IFRS. Since 2010, he is working as an independent consultant; among his major projects was an IFRS 4, Phase II impact study for a composite insurance group. He has held numerous internal workshops on the topic for both Board / Executive Management level and practitioners on a hands-on basis.

Stephan is a member of the Accounting Group of the Association of Swiss Actuaries (SAV) and member of the IFRS Working Group for health insurance of the German Actuarial Association (DAV). He has held various public presentations on IFRS 4, Phase II on actuarial conferences. He also advised senior staff in a regulatory body regarding the financial statements of insurance companies.

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