Course Outline

Introduction to IFRS 17

  • Purpose and scope of IFRS 17
  • Key concepts and definitions
  • Comparison with IFRS 4

Insurance Contract Accounting under IFRS 17

  • Identifying and classifying insurance contracts
  • Unit of account and portfolio considerations
  • Separation of insurance and non-insurance components

Measurement Models

  • General Measurement Model (GMM)
  • Premium Allocation Approach (PAA)
  • Variable Fee Approach (VFA)

Financial Reporting and Disclosures

  • Presentation of insurance contracts in financial statements
  • Disclosure requirements under IFRS 17
  • Data and system requirements for compliance

Analyzing the Impact of IFRS 17

  • Impact on financial performance and profitability
  • Effects on insurers’ capital and risk management
  • Case studies of IFRS 17 application

Implementation Challenges and Best Practices

  • Operational and system challenges
  • Cross-functional collaboration and governance
  • Lessons learned from early adopters

Ensuring Compliance and Long-Term Sustainability

  • Maintaining compliance with evolving standards
  • Monitoring contract performance under IFRS 17
  • Strategic adjustments for transparency and competitiveness

Summary and Next Steps

Requirements

  • An understanding of accounting principles
  • Experience with financial statements and reporting
  • Knowledge of insurance or financial services is beneficial

Audience

  • Insurers
  • Controllers
  • Analysts
  • Actuaries
  • Auditors
  • Accountants and finance professionals
 21 Hours

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