Description: Calculating the risk adjustment confidence level disclosure required by IFRS 17 if the risk adjustment itself is calculated using a cost of capital approach

Description: As IFRS 17 Insurance Contracts casts its net wide, reinsurers find themselves sailing toward new horizons of financial reporting. The transition to IFRS 17 is not just a regulatory compliance exercise but a transformational journey that reshapes the financial reporting landscape for reinsurers. The enhanced disclosure requirements, the granular contract-level accounting, and the measurement consistency across different reinsurance contracts promise to unveil a clearer financial picture. Yet, these new reporting waters could be choppy, demanding a sturdy understanding and application of IFRS 17's principles. This article describes benchmarking of IFRS 17 information provided at HY 2023 for four reinsurers.

Description: Archive Fall 2017: Admission Requirements

Description: View the 2017 Living to 100 Symposium Monographs.

Description: The implementation of the IFRS 17 insurance accounting standard has brought significant changes to the financial reporting landscape of insurance companies. With new disclosure requirements and altered profit analysis, understanding and interpreting future profitability have become a topic of concern for the industry. While stability remains a key objective for insurance companies, the earning patterns might become more volatile especially when the contractual service margin (CSM) is exhausted, and a loss component (LC) needs to be established. Reinsurance, a common risk mitigation tool, can play a pivotal role in managing earnings volatility and minimizing losses for onerous measurement units. In this article, we propose a new key performance indicator (KPI) called “loss recoverability” to assess the performance of reinsurance treaties in achieving these objectives. We explain how this KPI can be utilized in multiple scenarios to evaluate the effectiveness of reinsurance strategies and pursue stability in earning patterns.

Description: This article highlights some key points for IFRS 17 Variable fee approach (VFA) and provides an illustrative example on the measurement model logic.

Description: The Society of Actuaries and LIMRA have sponsored a Variable Annuity Guaranteed Living Benefit Utilization Study. This study is an annual update of earlier investigations conducted since 2006

Description: View the Archive Spring 2017: Life Risk Management Exam.

Description: Actuaries Climate Index Summer 2017 data released .