Agenda

09:00

Chair’s opening remarks

09:05

Keynote panel: What is the expected state of readiness for insurers at this point? An overview of where the industry is as a collective as we race towards 2023

  • Outlining the key milestones that firms should have met by the end of q1 in 2022, from investor relations conferences to the publishing of initial financial statements
  • How far along are most firms with their implementation? What are the most common stumbling blocks?
  • What are the new insights that have been gained?
  • Has Covid-19 had any effect on the industry's ability to prepare for the reporting shift?
  • Examining the internal culture changes that should have already begun to take place, from breaking down silos to the merging of the accounting and actuarial role
  • Why state of readiness still varies widely, and why smaller firms might have an operational advantage

Moderator:

Mark Miller, IFRS Global Lead, Legerity Limited

Panellists:

Jo Clube, Group Accounting Director, Aviva
Oscar Kitasoboka, Chief Actuary, Central Bank UAE
Tony Silverman, Director, AM Best

09:50

Panel discussion: Building out the new KPIs, has the industry reached a consensus?

  • How far along are firms in truly understanding profit emergence under IFRS 17 and what will this mean for executive remuneration?
  • Why it is essential to tackle internal conflicts around setting new KPIs and how this could affect senior leadership teams
  • Testing the viability of any proposed KPIs and ensuring the industry is aligned on both external and internal data points

Moderator:
Alex Bertolotti, UK Insurance Leader, PWC

Panellists:
Eelain Ong, CFO, DHL Insurance
Tony Silverman, Director, AM Best
Alberto Messina, Director, EMEA Insurance, Fitch Ratings

10:30

Panel discussion: Why bridging the gap between Solvency II and IFRS 17 will help to create a more complete picture of your business

  • Utilizing existing Solvency II processes and cash flow models to make sense of IFRS 17 results
  • Examining the differences in liabilities reporting between the two models
  • How SII predictions and expectations can help to sense-check IFRS 17 results
  • Why some firms may take advantage of applying the same discount rate across both metrics
  • How can software help to bridge gaps between SII and IFRS 17 and assist with parallel reporting?

Moderator:
Simon Perry, Partner, Head of Life Insurance Actuarial & Risk, FS, Grant Thornton

Panellists:
Anthony Hams, Head of Group Provisioning, Atradius
Simon Miedema, Senior Financial Reporting Analyst, Simon Advies and Interim

11:15

Investor relations panel: how to leverage the new transparency that IFRS 17 offers to build more effective long-term partnerships with investors and external stakeholders

  • Working with your communications teams to begin educating analysts on how to interpret the new results
  • Best practice when running investor relations webinars
  • Building an effective investor story through ongoing conversation and education
  • Managing the conversation around liabilities and loss-making business
  • What are the analysts' primary questions and concerns around IFRS 17?
  • Is greater transparency always useful? Helping users to understand the volatility that IFRS 17 reporting will bring

Moderator:
Christopher Cundy, Managing Editor, InsuranceERM & Insurance Asset Risk

Panellists:
Ashik Musaddi, Head of European Insurance Research, Morgan Stanley
Larissa van Deventer, Director, European Insurance Equity Research, Barclays
Farooq Hanif, Head of European Insurance sector, JP Morgan

12:00

Networking lunch break

12:45

Q&A session on regulations

  • An update from the UK and Europe
  • Predictions around the IASB's post implementation review - will there be more adjustments?
  • Identifying the most industry-wide effective resources on offer insurers to assist final implementation milestones

Moderator:
Cintia Cheong, Senior Staff Writer, InsuranceERM & Insurance Asset Risk

Panellists:
Philippe Angelis, Senior Policy Advisor, Corporate Reporting, Insurance Europe
David Otudeko, Head of Prudential Regulation, ABI
Richard Rees, IFRS 17 - EO Accounting Policy Lead, QBE

13:30

Case study: Getting to grips with what features constitute a successful implementation dry-run

  • Making sense of black box numbers: who is best placed to assess initial findings?
  • How best to recognize and iron out anomalies in profit results
  • Expending the resource needed to produce comparative accounts in 2022 - is there a more efficient way to do this?
  • Ensuring that dry runs result in the required knowledge transfer within your business

Moderator:
James Isherwood, Partner, Mazars

Panellists:
Bernhard Pfahnl, Head of Digitalization, Finance and Risk, Program Lead IFRS 17/9, Vienna Insurance Group
Sebastien Crouzet, Global Programme Director IFRS 17 & 9, Zurich

14:15

Building IFRS 17 into your BAU practices - operational challenges and resourcing issues

  • Making reporting process fit for BAU post IFRS 17 – key enhancements and changes needed
  • Resourcing challenges and solutions for BAU post IFRS 17
  • Applying new target operating models across different geographical regions
  • Key things to consider when training BAU teams and why any training should include your entire finance function
  • What will the future bring post IFRS 17 implementation? Looking at the industry shift towards sustainability and non-financial reporting

Moderator:
Kamran Foroughi, Senior Director, WTW

Panellists:
Daniel Quermia, CFO, Mapfre Re
Stephen Bishop, IFRS 17 Reinsurance Co-portfolio Lead, Munich Re
Rosa Salas, Director, Life Insurance Consulting and Technology, WTW

Breakout sessions

15:15

Breakout sessions

Delegates will join the panelists in each session to share experiences and participate in an open discussion on issues specific to Life and Non-Life insurers

Breakout Group A: Implementation huddle on challenges specific to life firms

Breakout Group B: Implementation huddle on challenges specific to non-life firms

  • Sebastien Crouzet, Global Programme Director IFRS 17 & 9, Zurich

  • Ronan McCaughey, Deputy Editor and Commercial Editor, InsuranceERM
  • Jo Clube, Group Accounting Director, Aviva
  • Bernhard Pfahnl, IFRS 17 Program Leader, Vienna Insurance Group
  • Christopher Cundy, Managing Editor, InsuranceERM & Insurance Asset Risk

16:00

Chair’s closing remarks