IFRS 17 Insurance Contracts Course

This insurance course is designed to help kick off the processes related to IFRS 17. It is aimed at not only preparers and users of accounts but also implementation team members and will help them get to grips with IFRS 17 by providing, at the very least, initial working knowledge of the rules, how the numbers are constructed and presented and the story that they are telling.

COURSE OUTLINE

• Introduction of IFRS 17
• General Measurement Model
• Best Estimate of Fulfillment Cash Flows
• Discounting
• Risk Adjustment
• Contractual Service Margin
• Presentation of Financial Statements
• Level of Aggregation
• Initial Recognition
• Onerous Contracts
• Contract Boundary
• OCI Option
• Premium Allocation Approach
• Variable Fee Approach
• Reinsurance
• Implementation Considerations - Transition Approaches
• Exercises/Case studies on GMM, PAA, VFA and Reinsurance

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.