Description: This article highlights some key implications for reinsurance contracts held.

Description: This article is based on a seminar about international financial reporting standards IFRS sponsored by the Society of Actuaries and Ernst & Young LLP on November 30 and December 1, 2004.

Description: Feature article asking seven questions raised by the IASB’s and FASB’s recent changes to the insurance contracts accounting standard.

Description: An essay on example of how actuaries have influenced accounting

Description: report on the IAA

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: The article focuses on implementation considerations for insurance companies that will be implementing both IFRS 17 and US GAAP Targeted Improvements. Many of the practical considerations are common to both implementations and will also be of interest to readers who are only implementing one of these changes.

Description: Description of IAA Risk Adjustment Monograph. The purpose of the monograph is to assist actuaries with the some suggested technical methods in measuring a Risk Adjustment as required for IFRS 17. Examples are given, including translations to confidence interval.

Description: The discount rate is one of the most critical topics in IFRS 17 and may have important repercussions on product profitability. The presenters will cover practical implementation considerations, including alternative approaches to illiquidity premium calculation for business supported by fixed assets with credit risks. Other implementation considerations will also be covered, including granularity of setting the discount rate, application to new business, and implications on asset and liability modeling. The presenters will then discuss how discount rates could be utilized in an Economic Scenario Generator (ESG) to assist IFRS17 calculations, particularly for risk-neutral valuation of the time value of options and guarantees.

Description: The implementation and execution of IFRS17 requires the insurance industry to re-define the skill set matrix of Actuary, Accountant and IT practitioner. Professionals with the ability to, 1. understand the business context of IFRS17, 2. gain insight from complex actuarial & accounting & data system 3. communicate technical content in a compelling way, will be the key players of the future Finance function of the insurance industry. They will also become the foundation of the new formations of IFRS17 delivery team containing hybrid or cross functional capabilities. This presentation will discuss: 1. the new skills, ranging from account posting to data governing, required by actuaries to stay relevant in a digitalized Finance function under the IFRS17 world 2. the actuarial related roles available within an E2E IFRS17 reporting process 3. the potential formation of the IFRS17 reporting team