Description: This article provides an overview on one of the most budget-, resource- and time-consuming components in an insurers’ IFRS 17 implementation journey in Asia – the Subledger implementation. This article covers the key functionalities of a subledger system, as well as the important lessons learned during the implementation processes.

Description: This article highlights some key points for IFRS 17 Variable fee approach (VFA) and provides an illustrative example on the measurement model logic.

Description: The IAA has published a textbook-sized monograph on implementing risk adjustments under IFRS 17. This monograph will be helpful to those calculating the risk adjustment and those who want to know what the risk adjustment represents and how if affects period to period reporting.

Description: As insurance companies in many jurisdictions around the world are in the midst a major overhaul of financial reporting processes for insurance contracts, the question about tapping on the experience of Solvency II may help these companies to implement IFRS 17. There are a few similarities between IFRS 17 and Solvency II, most notably with respect to the economic balance sheet approach, or the probability-weighted cash flow discounting techniques that both methodologies require. In addition, both IFRS 17 and Solvency II imply as broad and profound impact on all aspects of how insurers conduct business, from valuation methodologies and governance, data, processes, and technology impacts. Changes in roles and responsibilities between actuarial and finance departments also represent a considerable business impact. However, in this article the author highlights the salient differences between IFRS 17 and Solvency II.

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: Sustainable operations under changes in accounting principles and solvency standards

Description: Feature article describing the IFRS 17 and Solvency II workshop conducted by the SOA is Sao Paulo, Brazil.

Description: Overview of developments leading to IFRS accounting standard IFRS 17.

Description: The Insurance Working Group of the IASB discussed models for the contract type, term insurance, in the second quarter. This summary of the current models will acquaint you with the key points of the models and a range of open issues.

Description: In this translation of an original article by Oscar E. Velandia, the role of the actuary in the Colombian insurance market place in light of regulatory change is examined. A comparison with the rules from the Solvency II Directive puts the actuarial function into context. In addition, the new financial reporting requirements set forth by IFRS 17 and the involvement of the actuary in finance is described.