IFRS 17 requires that risks inherent in the cash flows of the insurance contracts are considered in measurement, differentiating between financial risks and non-financial risks. While the financial risks are measured at their current (estimated) market value, non-financial risks are measured at “the compensation that the entity requires for bearing the uncertainty about the amount and timing of the cash flows that arises from non-financial risk”.

Identifying the uncertainties, for both amount and timing, factors influencing the uncertainties like random deviations or changes of risk over time and differentiating between financial and non-financial risk for quantifying the risk and identifying the entity-specific risk aversion for associating a value to the estimated quantity of risk demands a deep understanding of the concepts of IFRS 17.
Organised by the EAA – European Actuarial Academy GmbH.

The web session is suited for actuaries and accountants with good knowledge of the measurement approaches of IFRS 17. The background knowledge is necessary since there will be no time to introduce those concepts.

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

The web session will explain the objective and guidance of IFRS 17 regarding the measurement of risk arising from insurance contracts and presentation and disclosure issues. The session will not discuss technical issues of estimating distribution functions or applying risk adjustment techniques, i.e. it is as well suitable for accountants intending to enhance their understanding of the guidance for risk adjustments.

The language of the web session will be English.

Stefan Engeländer
Stefan accompanied the IASB insurance project from 1998 onwards at the DAV, IAA and KPMG. Since 2000, Stefan is responsible in KPMG for actuarial issues of IFRS insurance accounting. He is member of the Insurance Accounting Committee of the IAA and the respective working party of the DAV.