ACTUARIAL MODEL BUILDING FOR IFRS 17

With the introduction of IFRS 17, actuarial involvement has significantly deepened and broadened in the industry. It is clear now that the actuarial input is absolutely essential to assure both the technical correctness and clarity of the approach proposed in the accounting standard.

IFRS 17 Insurance Contracts will require close cooperation between accountants and actuaries, much more than other accounting standards applied so far. This course will focus on the actuarial work to be done for IFRS 17, providing the necessary context as well as the specific treatment of active and passive reinsurance.

Content:

• Overview of IFRS 17
• Introductions
• Definition and scope of leases
• IFRS 17 accounting models
• IFRS 17 measurement and presentation
• General model
• Premium allocation approach (The PAA)
• Modifications to the general model
• Contract modifications
• IFRS 17 transition options and disclosures
• IFRS 17 presentation and disclosure
• Cash Flow Projections (General Model)
• Discount Rates
• Modelling Options and Guarantees
• Risk Adjustment
• Amortization of Contractual Service Margin / Coverage Units
• Assumption Setting for Reinsurance Held

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.