After almost 20 years of debates, outreach and Exposure Drafts, the IASB has finally published IFRS 17 Insurance Contracts. The new standard will become effective as early as 1.1.2021 and will fundamentally change the way insurance companies present their obligations and their financial performance stemming from insurance contracts.
Actuaries on all levels within companies will play a key role in implementing the new guidance: First, the standard will require many fundamental decisions, which will determine the amount and profile of IFRS results for years to come. Second, actuaries will be key to prepare decision making by top-management by explaining the options and their consequences. Third, measurement models will need to be developed, possibly starting with prototypes providing a starting point for an impact analysis and then gradually developed into audit proof applications.
Accordingly, this seminar presents the accounting framework in which actuaries operate, with a special focus on hands-on exercises from a management perspective.
Organised by the EAA – European Actuarial Academy GmbH