Description: After International Accounting Standards Board (“IASB”) issued International Financial Reporting Standard No. 17 – Insurance Contracts (“IFRS 17”), IASB received much feedback and suggestions for improvement. As a result, in early 2019, IASB made limited changes to IFRS 17. The presentation will briefly discuss the main contents and effects of those changes.

Description: This article is an abstract of the Deloitte whitepaper “Financial KPIs in the New World” that will be published in January 2023. It provides a market view of how the new Financial KPIs will be integrated in the insurers’ decision-making process and about the main challenges and opportunities for insurers’ management and external stakeholders in the jurisdictions that have adopted IFRS17 and in particular countries in the EMEA region.

Description: In the insurance industry, machine learning models are increasingly used to make decisions that affect people's lives. In order to ensure that models are fair, they should be audited for bias. There are no hard and fast rules for bias audit; metrics that can be used to evaluate fairness vary depending on the context in which the model is deployed. In this session, we present a flexible framework that highlights key considerations in bias evaluation that can be adjusted to suit your process. In this session, we will learn about different metrics to assess fairness, discuss open source tools that can be used for bias audit, and walk through a case study.

Description: Continuation of series applying Buddhist principles to actuarial work setting. This issue discusses the challenges to actuaries posed by the coronavirus pandemic and how mindfulness practice can expand an actuary's perspective and enhance effectiveness

Description: Following the success of our first webcast on IFRS 17 implementation in the GCC, we are excited to announce the second installment, which will take place on September 26. This time, we will have a new panel of experts representing the actuarial, finance, and IT functions. The journey towards IFRS 17 implementation has been complex, but it has also brought these three functions closer together, creating a true team effort. The SOA has been a committed partner in this journey, providing in-depth technical support to the industry. Our IFRI Certificate program has been well-received around the world, and we have also delivered several webcasts on the topic, including a three-part series with simultaneous translation to Arabic. This webcast is the second part of our three-part series on the implementation of IFRS 17, which went into effect on January 1, 2023. The series will focus on the lessons learned, challenges, and best practices that have been experienced in the GCC. The third and final discussion will take place in person during the SOA's Regional Symposium in Riyadh on November 19-20. We hope you will join us for this important discussion.

Description: The article “IFRS 17, Economic Volatility, and Reinsurance” (IFRS 17, Economic Volatility, and Reinsurance | SOA) was designated the best article published in Reinsurance News in 2022. It looks at providing industry insights on preparing for the new global accounting standard. The article was submitted by Paul Sauvé (RGA) and it appeared in the June 2022 issue.

Description: This presentation shares experience and ideas of both AIA Group and AIA China during implementation of the IFRS17 project and will discuss potential impact and outlooks in the domestic market from IFRS 17. This presentation includes a general overview of an IFRS17 implementation project, focusing on changes and requirements, as well as the resources cost of the main challenges and relative resources.

Description: The Best Article in the Reinsurance News 2023 and News from the Reinsurance Section Council

Description: Update of IFRS Developments