Description: This session will look into life insurers’ anticipated business impacts as a result of the implementation of the new accounting standard for insurance contracts, IFRS 17. What will be the financial impact as of day one as a result of transition? How will embedded value for common life insurance products change? How will costs of reinsurance be affected? Will products have to be re-designed and/or re-priced? IFRS 17 may have more ramifications into the way insurers are doing business than we have anticipated so far. While we are working on the implementation of this new standard, we should not lose sight of the business impacts that will follow. At the conclusion of the session, attendees will be able to: Understand key impacts of the transition to IFRS 17; See illustrative examples of the impact on embedded value; and Understand key impacts on product design and pricing Country Relevance: US and Canada

Description: Feature article describing the issues reinsurers face when adopting IFRS 17 in regard to insurance contracts.

Description: 2021 Life Meeting - Session 7F: A New Frontier for Reinsurance Accounting - LDTI vs. IFRS 17 9.1.21 Recording

Description: The goal of this publication is to give insights on some market trends in the insurance industry from an African perspective. Some of such trends include digital innovation, accounting standards (IFRS 9 and IFRS 17), African Continental Free Trade Area (AfCFTA), Political Violence and Terrorism (PVT) incidents and Covid-19 pandemic exposures as well as Environmental, Social and Governance (ESG) considerations. It also highlights the success story of the leading pan-African reinsurer, African Reinsurance Corporation, with a message to young professionals that can help increase their odds of success.

Description: Feature article describing the upcoming events of the 2011 Canadian Reinsurance Conference.

Description: This chairperson’s corner highlights the Spring Health Meeting and accomplishments of the Reinsurance Section.

Description: When annuity products became prevalent in the U.S., they all looked more or less the same. It was where folks put their safe retirement money, yielding modest guaranteed returns with a menu of payout options to help secure their retirement. Over time, this commoditization lead to a pricing squeeze and an exhaustive set of product options and features, exposing carriers to market and policyholder behavior risk over the past decade or so.

Description: This article summarizes insights from a 2021 survey of more than 40 life insurance companies with a focus on trends in reinsurand and in-force management. While reinsurance objectives and methods have remained steadfast in a sea of economic and regulatory impacts, life companies still are looking at different solutions to make improvements in profitability, stability, and scale.

Description: This presentation is a concurrent session from the 1991 Meeting of the Society of Actuaries, held April 18-19 in New Orleans. The panelists, noting that “joint ventures are becoming more and more common as companies enter the increasingly competitive marketplace of the 1990s,” explore reasons to use joint ventures and how reinsurance accomplishes desired goals, and discuss advantages over other possible solutions. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 1.

Description: Read the Quo Vadis Reinsurance.