IFRS17: Insurance Contracts - Introducing the new standard

Summary

The implementation of the new insurance accounting standard, IFRS 17 will dramatically change the accounting of insurance contracts. This new standard will present a major challenge for many insurance companies and affect insurance company decisions. Major implementation projects are undeway in advance of an expected mandatory effective date of 1 January 2022. The course will be facilitated by the Mazars Actuarial team.

Venue details:  
Chartered Accountants House, , Dublin
Start date & time:  
13 November 2019 09:30
End date & time:  
13 November 2019 12:30
Price: €112.50  (€90.00 Member price)
By registering for this course you have accepted the terms and conditions
Training ticket cost:  
3.00
CPD hours:  
3.00
Speaker details
First nameLast name
Dermot O'Hara
Olive Gaughan

Description

Product type:  
CPD course
Category:  
Financial reporting

Who should attend

This course will benefit both producers and users of insurance company financial statements. The standard will be relevant to finance departments and directors alike across the spectrum of the insurance industry including life, non-life and reinsurers. The course will cover the new requirements for insurance contracts, challenges facing insurers, the timelines and the scale of work involved. Users of insurance financial statements will also benefit from increasing familiarity with the new terminology and understanding the impact of transition.

Course overview

  • Background and Timelines
  • Scope of IFRS 17
  • Measurement of Insurance Contracts - General measurement model theory/Worked examples applying the theory to practice
  • Presentation and Disclosure
  • Parallels with Solvency II

Key learning outcomes

  • Demonstrate an understanding of the requirements of this new standard
  • Appreciate the main decisions and challenges facing insurance companies in preparing for the standard
  • Work through the practical application of the theory using examples
  • Learn from guidance on how to prepare for the new standard