Description: How actuarial practices have benefited from lessons learned from accountants

Description: Different points of view about IFRS are explained.

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: Chairperson’s column discussing current events in financial reporting focusing on IFRS accounting proposals for insurance contracts.

Description: The selection of the economic capital calculation approach becomes more of a modeling decision. Now let us pause here and think about the arbitrage-free assumption at the beginning. At any time, there can be only one price on any asset. If the company considers the price calculated above as the fair price for its products, then it must hold true that the same price has to be arrived at if the company uses a real-world pricing approach instead of a risk-neutral approach. This gives us a very good basis to calibrate the appro- priate economic capital.

Description: Update of IFRS Developments

Description: Developments in IFRS

Description: New International Financial Reporting Standards promise to trigger fundamental changes in the role and significance of actuarial models for insurers.

Description: An overview of John Robinson's experience at the recently concluded annual meeting of the Caribbean Actuarial Association in Trinidad.

Description: As IFRS 17 Insurance Contracts casts its net wide, reinsurers find themselves sailing toward new horizons of financial reporting. The transition to IFRS 17 is not just a regulatory compliance exercise but a transformational journey that reshapes the financial reporting landscape for reinsurers. The enhanced disclosure requirements, the granular contract-level accounting, and the measurement consistency across different reinsurance contracts promise to unveil a clearer financial picture. Yet, these new reporting waters could be choppy, demanding a sturdy understanding and application of IFRS 17's principles. This article describes benchmarking of IFRS 17 information provided at HY 2023 for four reinsurers.