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Course Outline

Introduction

  • The journey from IFRS 4 to IFRS 17

Overview of IFRS 17

  • Key changes from IFRS 4 to IFRS 17

Insurance Contracts

  • Reading an Insurance Contract
  • Separating non-insurance components
  • Identifying insurance risk
  • Organizing contracts into units of account and portfolios

Financial Statements

  • Understanding the General Measurement Model
  • Grouping entries into blocks
  • Alternative accounting models
  • Analyzing a real-world financial statement

Measurement Approaches

  • Initial recognition
  • Subsequent measurement
  • Premium allocation approach

Managing Contract Types

  • Reinsurance contracts
  • Direct participation contracts
  • Discretionary participation contracts
  • Modified contracts
  • Derecognition of an insurance contract

Transitional Rules and Approaches

  • Fully retrospective method
  • Modified retrospective method
  • Fair value method

Disclosures

  • Understanding the disclosure requirements under IFRS 17
  • New data requirements
  • Other compliance issues

Transitioning to IFRS 17

  • Assessing the scope of an IFRS 17 transition
  • Assembling an implementation team
  • Preparing a transition plan
  • Creating and maintaining a schedule

Transparency and Profitability

  • Identifying and measuring insurance contract performance
  • Enhancing transparency in contracts and reporting
  • Increasing the profitability of an insurance company

Summary and Conclusion

Requirements

  • A foundational understanding of basic accounting principles

Target Audience

  • Insurance industry professionals
  • Financial controllers
  • Financial analysts
  • Actuaries
  • Auditors
  • Accountants and other finance professionals
 21 Hours

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