IFRS 17
News
InsuranceERM's Technology Guide 2020-21 is launched and ready to use
The directory covers over 100 products used by insurers for risk, capital and asset management
UK sets stage for endorsing IFRS 17
Accounting standards board appoints ex-PwC partner Pauline Wallace as chair
Efrag likely to give IFRS 17 final endorsement advice by March
Draft advice due to be issued next month
Singapore insurtech chooses Moody's Analytics for IFRS 17 implementation
Singlife will use RiskIntegrity as well as Moody's Scenario Generator
Efrag members split over annual cohorts in IFRS 17
EU accounting body to debate issue in coming weeks
Deloitte warns of problematic EU version of IFRS 17
European insurers fight to fix annual cohorts
Insurers' capitalisation might be lower under IFRS 17
But the amended standard is unlikely to prompt insurer rating changes, says S&P
New Zealand regulator updates insurers' solvency return requirements
Solvency projections to be required with and without capital movements
Most supervisors rule out IFRS 17 usage for regulatory solvency purposes
IMF/BIS paper concluded most surveyed jurisdictions see no justification to change existing requirements
Taiwanese insurers to adopt international solvency regime in 2026
Regulator has come up with a phased approach for gradual implementation
Analysis
The cloud is a silver lining amid Covid-19
Covid-19 has put to bed any doubts about the use of cloud technology for risk and capital management. The pandemic will also drive more sophisticated risk modelling, as Ronan McCaughey discusses in his review of key trends in the risk software markets
IFRS 17's neglected questions: the risk adjustment and confidence levels
Andries Beukes discusses with Cintia Cheong the findings of an investigation into how insurers are planning to calculate their IFRS 17 risk adjustment and confidence level
IASB issues final version of IFRS 17
The deferral of implementation to 2023 and the reinsurance accounting changes are most welcomed by insurers. Cintia Cheong reports
The key decisions in Samsung Life's journey to IFRS 17 implementation
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Samsung Life's Jeong Hyeok Park and Deloitte Korea's Byoung Shin tell Cintia Cheong how the insurer is implementing the new accounting regime and what they make of the recent amendments to the standard
Choosing KPIs for IFRS 17
IFRS 17 is bringing a fundamental change in the accounting of re/insurance contracts for more than a thousand insurance entities around the world. Milena Lacheta and Wijdan Yousuf explain what analysts, rating agencies and auditors are thinking about measuring performance under the new standard
Actuarial recruitment: a pause for the pandemic
Cintia Cheong reports on the how the actuarial job market in the UK is faring amid the coronavirus pandemic, the IR35 tax changes and the implementation of IFRS 17