Event Agenda

Agenda

Addressing IFRS 17 Transition Challenges | Agenda

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Live virtual course | Agenda timing is in HKT/SGT

Respective time in AEST:
Start: 11:00am
Break: 1:00pm
Finish: 2:15pm
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09:0010:00

Overview of IFRS 17 Implementation

10:00 - 11:00

  • Latest update from the IASB
  • The Implementation timeline:  priority areas and their impacts 
  • Underlying principles and comparison to IFRS 4
  • Impact on Non-insurance entities 

10:0011:00

Measurement Models in Detail & Determination of Investment Components

10:00 - 11:00

  • High level overview of measurement models and their usage
  • Understanding the measurement approaches
    • The General Model (GM)
    • Premium Allocation Approach (PAA)
    • Variable Fee Approach 
  • Applying IFRS 17 to all components of the host insurance contract
  • Treatment of investment components
  • Impact on profit sharing schemes

11:0011:15

Break

10:00 - 11:00

11:1512:15

Presentation and Disclosure

10:00 - 11:00

  • Objective of the disclosure requirements
  • Key amendments for presentation and transition disclosure
  • Presentation in financial statements

09:0010:00

Recognition of Insurance Contracts

10:00 - 11:00

  • Definitions of contract boundaries and the current challenges 
  • Timing and requirements 
  • Identifying the significant insurance risk
  • Assessing the level of aggregation

10:0011:00

Applying IFRS 17 to Reinsurance

10:00 - 11:00

  • Retreating the reinsurance contract boundaries 
  • Challenges of the accounting symmetry mismatches
  • Addressing the impact under IFRS 17
    • Balance sheet
    • Key performance metrics
    • Profitability 
    • P&L volatility 

11:0011:15

Break

10:00 - 11:00

11:1512:15

IFRS 17 Profit Emergence and Volatility

10:00 - 11:00

  • Impact of underwriting risks: profitable vs onerous contracts
  • Risk adjustment and the Impact of non-financial risks
  • Interaction with assets, IFRS9 and IAS 39
  • Case Studies

09:0010:00

Managing the Implementation and Approach to Transition

10:00 - 11:00

  • Implementing your plan, enhancing processes and controls
  • Choosing the right approach
    • Full retrospective approach
    • Modified retrospective approach
    • Fair value approach: Looking at P&L vs OCI (Other Comprehensive Income) 
  • Engagement with external stakeholders
  • Case Studies

10:0010:15

Break

10:00 - 11:00

10:1511:15

Practical Insight into Systems and Data Management

10:00 - 11:00

  • Business impacts of IFRS 17 when adapting internal processes
  • Addressing key challenges of system requirements
  • Examining the system and data impacts on Contractual Service Margin (CSM) calculation
  • Data quality, governance and management issues
  • Role of machine learning