2022 is the first year of full application of the new IFRS17 standard. Insurers are now fully engaged in implementation. The focus of the preparations has been on Insurance Contracts Issued whilst the treatment of Reinsurance Held has not received much attention. In this web session we provide insights into the treatment of reinsurance of long-term contracts in the fields of Life, Disability and Health insurance. Using examples we will give participants a hands-on experience of how IFRS 17 changes the presentation of reinsurance in the financial statements.
Organised by the EAA – European Actuarial Academy GmbH.

The web session addresses all interested persons who want to learn more about the impact of various types of reinsurance under IFRS17. It is beneficial if participants have basic knowledge of reinsurance and the general concepts of IFRS17.

Technical Requirements
Please check with your IT department if your firewall and computer settings support web session participation (the programme Zoom is used for this online training). Please also make sure that you are joining the web session with a stable internet connection.

We will start out with general concepts for the presentation of Reinsurance Held under IFRS17. Next, we will move on to practical examples of various types of reinsurance solutions. For long-term Life, Disability and Health business we will cover examples of both proportional and non-proportional reinsurance. Furthermore, we will shed light on the treatment of cash and non-cash financings. To conclude this session we will make a comparison with the previous treatment under IFRS4 and analyse mismatches between Insurance Contracts Issued and Reinsurance Held.

The language of the web session will be English.

Karina Chen
Karina has more than 25 years of life and health insurance and reinsurance experience as actuary and project manager. As Senior Actuary at Munich Re, she focuses on reinsurance-based capital management solutions for life and health insurers in Europe.

Bernd Schedel
Bernd is a German Life Actuary and CFA charterholder. He has more than 15 years of experience as Senior Actuary at Munich Re in structuring and pricing reinsurance solutions to stabilize life insurance companies’ local GAAP and IFRS financial statements.

Dr. Christian Schmidt
Christian is a German Life Actuary and holds a PhD in Financial Mathematics. He has worked at Munich Re for more than ten years and held positions in internal risk management as well as in client management. Currently he is a Senior Actuary for capital management solutions for life insurers.