Description: Summarizes reaction to the new IFRS on insurance contracts

Description: This presentation shares experience and ideas of both AIA Group and AIA China during implementation of the IFRS17 project and will discuss potential impact and outlooks in the domestic market from IFRS 17. This presentation includes a general overview of an IFRS17 implementation project, focusing on changes and requirements, as well as the resources cost of the main challenges and relative resources.

Description: A Discussion Paper issued by the IASB in May 2007, contains the IASB’s preliminary views on the various recognition and measurement components considered in accounting for insurance contracts and identifies issues that are still under consideration. This article summarized the main proposals in the Paper and emphasizes those issues where the views of the IASB are not uniformly accepted.

Description: Reunite with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, IFRS 17, product strategy, cross-border communication and discussion, and more. Advance your career through learning and networking opportunities, and share your experiences in the finance and insurance industries, as well as other fields related to actuarial science.

Description: After the arduous journeys IFRS 17 filers underwent to implement the standard, it would only make sense for insurers to seek the best return on their investment post effective date of 1/1/2023. Many insurers are now embarking a new phase of the journey that involves wrapping up any unfinished business as they might have taken a minimum compliance route to finish implementation and thinking about the knock-on effects the new standard has on the way they carry out business and perform financial reporting.

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: 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: With Chapter 20 of the National Association of Insurance Commissioners Valuation Manual (VM-20), the expansion of accelerated underwriting programs and digital distribution, new accounting standards under GAAP long-duration targeted improvements (LDTI) and International Financial Reporting Standard (IFRS) 17, along with a changing interest rate environment, companies may be looking for efficient reinsurance solutions to help address these ever changing and varied challenges. Hear highlights on how reinsurance can be utilized to address the challenges associated with managing new business strain and product competitiveness, earnings and risk management, and capital allocation efficiency. At the conclusion of the session, you will understand the various challenges being faced by direct writing companies today and where reinsurance can be leveraged to improve the returns and competitiveness of product offerings, provide flexibility in capital and tax planning, as well as balancing risk appetite and underwriting profit retention.

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.