Large and small insurers reveal IFRS 17 approaches

Published in: Regulation, Accounting - tax, ROW, IFRS 17

Companies: Chubb, Randall & Quilter, Aptitude

The challenge of implementing IFRS 17 varies from insurer to insurer. While a small insurer may experience issues with resources and legacy systems, a multinational group may have to deal with idiosyncrasies in each jurisdiction and cope with huge amounts of data.

For instance, Chubb is in the midst of implementing the accounting standard for 25 countries where IFRS 17 is local statutory reporting.

These issues will be explored in part one of InsuranceERM and Insurance Asset Risk’s Asia-Pacific 2020/21 webinar series, IFRS 17: What we’ve learnt about implementation from small and large insurers, on 8 December. 

Sponsored by Aptitude Software, the webinar will share the experiences of implementing IFRS 17 at both small and large insurers, featuring speakers from Chubb and Randall & Quilter.

We will discuss what goes behind an insurer’s decision to achieve minimum compliance or a broader finance transformation, lessons learned so far, and the challenges with selecting the appropriate measurement model.

Speakers confirmed:

•          Brian Birch, IFRS 17 Project Manager, Randall & Quilter

•          Brian Heale, Senior Insurance/IFRS 17 Consultant, Aptitude Software

•          Zeljko Strkalj, Global IFRS 17 Program Director, Chubb

The webinar will take place on 8 December at 8:00 GMT/16:00 HKT. Click here for registration.

This is first of the series focused on the APAC markets.

Cintia Cheong