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: Reunite with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, IFRS 17, product strategy, cross-border communication and discussion, and more. Advance your career through learning and networking opportunities, and share your experiences in the finance and insurance industries, as well as other fields related to actuarial science.

Description: The chair of the International Section of the SOA reports to the section members.

Description: The 2023 Professionalism in Practice Course will study, discuss and explore the professionalism practice, code of conduct and application of the actuarial profession. Our speakers are seasoned presenters from mainland China. Experts will cover several issues encountered in daily actuarial working environments. Content will include business cases and interactive discussions, which aim to enrich the practical learning experience of attendees. Audience attendance will be limited in order to provide an interactive, collaborative learning experience. Early registration is highly recommended to secure a seat.

Description: 2023 Next Generation Leaders Summit

Description: Read how the world’s largest provider of specialty insurance for classic vehicles uses its media department’s YouTube videos to its full advantage.

Description: The article contains a description of the Emerging Topics Community. The focus of the article is what is a community, what makes the Emerging Topics Community special, and benefits of the Community. Included after the discussion on the community are ways to get involved and be a part of the community.

Description: Chairperson's welcome to the RS and thoughts about our future.

Description: Interview with the current Chair of the Retirement Section Council, describing the work of the Council and other topics.

Description: This article provides a summary of the revised ASOP 11 ("Treatment of Reinsurance or Similar Risk Transfer Programs Involving Life Insurance, Annuities, or Health Benefit Plans in Financial Reports") which was effective December 1, 2022.