Description: The National Association of Insurance Commissioners (NAIC) has developed the Group Capital Calculation (GCC) for U.S.-based insurance groups since late 2015. GCC is designed to provide a coherent analytical framework to show a panoramic, transparent view of the interconnectedness, business activities and underlying capital support for an insurance group. The last field testing was completed in May 2019. The final proposal was adopted in late 2020. The Federal Reserve Board (FSB) also recently updated the group capital standard to an aggregation method, which is similar to the NAIC GCC. The Insurance Capital Standard (ICS) is under the development by International Association of Insurance Supervisors (IAIS) for Internationally Active Insurance Groups (IAIGs). It has entered the five-monitoring period from January 2020 to monitor the performance of the ICS V2.0 and the IAIS will perform a comparability assessment of the ICS V2.0 with the Aggregation Method (e.g. NAIC GCC) during this period.

Description: In this session, presenters will share the impacts of transition to IFRS 17 on equity and various KPIs across insurance companies (Life & P&C), as well as share some observations of what the IFRS 17 landscape looks like across different global regions. The session will conclude with lessons learned and expectations for emerging practices under IFRS 17 globally.

Description: The topics of ESG (Environmental, Social & Corporate Governance) and sustainability are an increasing area of focus for insurance companies, and thus actuaries. This webcast provides a primer on these topics along with considerations for US valuation actuaries and their evolution in European insurance markets.