IFRS 17: Actuarial aspects of the new accounting standard

Who are the intended participants?

• Actuaries getting ready to introduce IFRS 17’s technical aspects in insurance companies.
• Project and IT managers and other insurance employees who will be involved in the new accounting standard’s implementation.
• Others who want to gain a more detailed overview of the main changes in actuarial calculations according to IFRS 17.

Programme

• Insurance contract aggregation – contract portfolios, onerous contract test, time cohorts.
• General measurement models.
  • Valuation of future cash flows.
  • Determination of discount curves.
  • Risk adjustment calculations.
• Specifics of alternative valuation approaches (variable fee approach, premium allocation approach).
• Contractual service margins, use of coverage units in amortisation.
• Transition to IFRS 17
  • Retrospective approaches, fair value approach.
  • Determination of fair value according to IFRS 13.

Benefits

After participation in the course, you will:

• Understand the functioning of the key technical aspects used for the valuation of insurance contracts according to the new accounting standard.
• Have an overview over the scope of required data and prerequisites for actuarial calculations according to IFRS 17.