IFRS 17 Conference 2022 (Virtual)

Chair’s opening remarks

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

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

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

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

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

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

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

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

Chair’s closing remarks