Description: Risk adjustment is needed under IFRS 17 to reflect the compensation that a company requires for bearing the uncertainty about the amount and timing of the cash flows that arises from non-financial risk. Companies are also required to disclose the method and confidence level used for the calculation of the RA. However, IFRS 17 doesn’t specify a method and a confidence level, nor does it provide a list of specific risks that are considered to be non-financial risk. Companies need to define them based on their own preferences or existing practices. This article will introduce available approaches and discuss the confidence level approach with potential consideration stemming from industry preferences and illustrative examples.

Description: Feature article describing the proceedings and results of the International Actuarial Association (IAA) in The Hague in May 2013.

Description: This article provides an introduction to group supervision and group capital and its importance in today's increasingly global insurance market. Additionally, the article examines the various methods used in practice for calculating group capital and the factors that companies should consider as they develop their group capital management strategy.

Description: This article reviews why financial reporting controls are relevant to actuaries. It also discusses the impact of LDTI on controls and the strategic decisions that insurers need to make.

Description: Feature article discussing the synergies between Principle Based Reserves and the NAIC’s Own Risk and Solvency Assessment (ORSA).