The worldwide implementation of IFRS 17 is likely to be one of the most disruptive changes to the insurance industry ever. This global standard was designed to be principles-based and to apply to all types of insurance. This led to some confusion and challenges in the interpretation of the text and in translating it into practical terms. Significant practical challenges around data, The Moody’s Analytics IFRS 17 roadshow brings together experts from actuarial, accounting and technology departments of insurers to discuss requirements, best practices and opportunities of the new accounting reporting standard. These events are free to attend. Seats are limited so please register today to secure your place.
Why you should attend:
Develop your network with other IFRS 17 experts to exchange best practice
Have the chance to hear the opinions of experts first hand and pose your own questions on the day
Get the opportunity for you to learn more about the challenges surrounding IFRS 17: including the impact on data, systems and processes
This free event is open to Moody's Analytics clients and register Now
senior insurance industry executives.
08:00-08:30 Registration & breakfast refreshments
08:30-08:45 Welcome address
Karim Ben Ayed, Certified actuary, Sales representative, Moody's Analytics
08:45-09:15 Finance transformation driven by IFRS 17
Massimiliano Neri, Director, Business Development, Moody's Analytics
- Doing IFRS 17 by extending the actuarial systems: what are the opportunities and the risks extending the actuarial models to perform the IFRS 17 calculations?
- Is the Contractual Service Margin (CSM) a concern only for life insurers?
- Can P&Cs take a light approach when targeting to use the Premium Allocation Approach (PAA)?
- IFRS 17 is an accounting standard with an actuarial interpretation of the numbers: why and how should actuaries and accountants collaborate
- Introducing a Target Operating Model that enables value added Finance Transformation projects
09:15-09:45 Hands-on accounting logic cases for IFRS 17
Dieter van der Stock, Director - Product Management, Moody's Analytics
- Considerations in the design of a chart of accounts in accordance with IFRS 17
- Analysis of posting logic to translate an IFRS 17 movement analysis into journal entries
- Reconciling IFRS 17 disclosures from both an actuarial and an accounting angle
09:45-10:30 IFRS 17 discount rates and profitability analysis
Steven Morrison, Senior Director - Research, Moody's Analytics
- Liability valuation, discount rates and liquidity premia
- Profit emergence and IFRS 9
- Requirement for economic scenarios
10:30-11:00 IFRS 17 will transform insurance accounting but is unlikely to change our credit view
Benjamin Serra, Senior Vice President, Moody's Investors Service
- Moody’s ratings reflect insurers’ economic positions and performance, which are unaffected by the implementation of the new standard
- But increased earnings volatility and/or a rise in leverage driven could restrict financial flexibility and influence strategic decisions
- Financial impact will vary, annuity writers and traditional life insurers likely to be most affected
Managing Director, Insurance Solutions, Moody's Analytics
Director, Insurance Solutions, Moody's Analytics
Sofitel Le Louise
Avenue de la Toison d'Or 40, 1050
Moody's Insurance Summit, Tokyo
31 October 2017
Moody's Insurance Summit , Beijing
7 November 2017