IFRS 17
IFRS 17 is the newest IFRS standard for insurance contracts and replaces IFRS 4 on January 1st 2022. It states which insurance contracts items should by on the balance and the profit and loss account of an insurance company, how to measure these items and how to present and disclose this information.
Mainly to make the financial statement easier to compare across insurance companies and among industries. Though it is a big change for insurance companies as data administration, financial presentation and actuarial calculations will need to change! This website will help you to understand the different topics.
Les nouveaux défis des assureurs organisé par L'AGEFI, c’est maintenant! On parle #ifrs17 avec Johan Attal Ageas, Rémi Saucié Allianz, Annalisa Tozzo Groupama https://t.co/cA2ksOG3Id
Highlights Include guests from:
-Aegon International - An industry pioneer for #IFRS17 implementation
-KPMG - Creating agility in finance with an accounting rules platform
-CFO Insight - industry expert Lisa Wardlaw’s perspective on the challenges driving Finance Transformation
Short Introduction
IFRS 17 in 3 Minutes
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IFRS 17 will have impact on
Reporting
Big changes in the P&L and the balance, with new components, like the risk adjustment and the CSM
Organisation
Interaction is needed between IT, actuarial and financial departments to be able to report timely.
IT
Data needs to be administrated on lower level with more history while systems need to run fast(er).
Timelines
