After almost 20 years of debates, outreach and Exposure Drafts, the IASB has finally published the new IFRS 17 standard for Insurance Contracts in 2017. The new standard will become effective on 1 January 2022 and will fundamentally change the way insurance companies present their obligations and their financial performance stemming from insurance contracts. Consequently, IFRS 17 has triggered major implementation projects at all insurance and reinsurance companies affected – and no company can afford to waste time!

Therefore join our seminar „Understanding IFRS 17” which is organised on 18/19 June 2020 in Ljubljana, Slovenia, in co-operation with the Slovensko Aktuarsko Drustvo!

A strong focus of this seminar lies on the accounting framework in which actuaries operate. It will address the specifics of all relevant insurance lines of business and highlight key conceptual topics and options the standard offers for implementation. It will refer to the transition period as well. The seminar will be useful for both finance and actuarial experts who are involved in IFRS 17 implementation or who are interested in the practical application of this ground-breaking new standard.

The goal of the two-day seminar is to provide participants with a comprehensive introduction to the new measurement, presentation and disclosure guidance for insurance contracts. It will cover life, health and non-life business, including the special guidance on direct participating contracts and shorter term non-life contracts and give useful examples.

In the seminar, we will first shed a light on the context of accounting for insurance contracts within the IFRS 17 framework. We will present and discuss the general concepts behind the new model and refer to the application of valuation models like the Variable Fee Approach (VFA) and the Premium Allocation Approach (PAA). The seminar will proceed with a discussion of topics specific to individual lines of business (highlighting topics still under discussion by the TRG and EFRAG), and summarize potential approaches and solutions. It will close with an overview over technical implementation approaches seen in various European markets.

Overall, the goal is to enable participants to understand the standard and help transferring the requirements into your specific situation. It is thus intended to prepare participants for model development, implementation, testing, reviewing and consulting with management, accounting and auditors.

The early-bird registration fee is € 840.00 plus 22% VAT for bookings by 18 April 2020. After this date, the fee will be € 990.00 plus 22% VAT.

Please find all additional information in this print version and on our website. An overview on other upcoming events can be downloaded as well.