Description: Introducing the latest certificate program offered by the Society of Actuaries. The SOA’s International Financial Reporting for Insurers certificate program will provide in-depth knowledge on international financial reporting standards applicable to insurance products including the potential organizational and financial impacts of adopting IFRS17 in addition to detailed coverage of the key requirements to support IFRS reporting requirements.

Description: The IFRS Foundation’s establishment of the International Sustainability Standards Board is a major step toward achieving relevant, decision-useful sustainability information for market participants that is comparable across industries and jurisdictions.

Description: Traditional pension mathematics assumes that mortality rates are fixed at a valuation date. If mortality rates reduce after a valuation date, the liabilities of a defined benefit plans 'DB plans' increase, leading to deficits. Such deficits are somewhat unpredictable, because the evolution of mortality rates is a random process. This problem, which is often called longevity risk, makes the maintenance of DB plans difficult. The International Accounting Standards Board 'IASB' has plans to tackle the arduous problem of how to disclose longevity risk on financial statements. The IASB was established in 2001 to create universal accounting standards, called International Accounting Reporting Standards 'IFRSs'. A primary objective of this paper is to propose a number of methods that can help actuaries and plan sponsors quantify and disclose longevity risk.

Description: 2021 ImpACT Conference - Session 14B: IFRS 17- Restructuring the Corporate Operating Model 10.29.21 Recording

Description: The IFRS Foundation’s establishment of the International Sustainability Standards Board is a major step toward achieving relevant, decision-useful sustainability information for market participants that is comparable across industries and jurisdictions.

Description: The NAIC is working with state insurance departments to replace the existing rules-based valuation laws with principle-based valuation laws. On the GAAP front, both the International Accounting Standards Board, which sets GAAP accounting guidance for many countries outside the United States, and the Financial Accounting Standards Board, which promulgates GAAP guidance in the United States, are moving toward a “current estimate” standard of valuation, which often results in a fair value or similar measurement basis. This article reviews the IASB’s discussion paper on insurance valuation and the American Academy of Actuaries’ response to it.

Description: Update on the IFRS for Insurance Contracts

Description: In this article, the authors recap the 2009 Asian IFRS.

Description: report on the IAA