In a webinar the revolution of the (re)insurance industry

On Thursday 10 June, at 4pm, an engaging online meeting on the topic of the new IFRS 17 standard, with the participation of top experts from EFFAS, SFAA and AIAF

On Thursday 10 June, at 4pm, there will be a very interesting webinar entitled “IFRS 17 The (re)insurance industry revolution”, which will be jointly organized by EFFAS (European Federation of Financial Analyst Societies), SFAA (Swiss Financial Analyst Association) and AIAF (Associazione Italiana Analisti Finanziari).
IFRS 17 is an International Financial Reporting Standard that was issued by the International Accounting Standards Board in May 2017.
It will replace IFRS 4 on accounting for insurance contracts and its effective date is January 1, 2023.

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To which contracts will the successor to IFRS 4 be applicable?

Here are the types of insurance contracts to which IFRS 17 must be applied: insurance and reinsurance contracts that the insurer issues; reinsurance contracts that it holds; investment contracts with discretionary participation features (DPF) that the insurer issues, provided that it also issues insurance contracts.
Europe is moving forward with the endorsement process for IFRS 17, however some critical issues have emerged in the application and internal and external financial reporting.
Top European experts in the field will participate: Javier de Frutos, Chairman of EFFAS Commission on Financial Reporting; Andrea Schenone, SFAA Switzerland, EFFAS Commission on Financial Reporting; Luca D’Onofrio, AIAF Italy, OIC Insurance Commission, EFRAG IAWG; Andrea Bellucci, AIAF Italy, OIC Insurance Commission, EFRAG User Panel, Lecturer at the University of Perugia; Christina Franz, Allianz Germany, Head of Project new KPIs IFRS 17; Jean-Michel Pinton, France, E&Y, EFRAG IAWG; Darrel Scott, former IASB Board Member; Carsten Zielke, DVFA Germany, EFFAS Commission on Financial Reporting, EFRAG IAWG; Serge Pattyn, Belgium, EFRAG Board member and Deputy Chairman, EFFAS Commission on Financial Reporting.

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The event aims to gather the opinions of some industry experts among academics, participants in local (OIC) and European (EFRAG) working groups, with the important contribution of financial analysts from EFFAS (The European Federation of Financial Analysts Societies).

The link to register for the webinar: “IFRS 17 The revolution in the (re)insurance industry”

https://www.sfaa.ch/files/club/202106_IFRS17_Webinar_EFFAS_SFAA_AIAF.pdf

The objective is to respond to unmet needs

The webinar aims to provide participants with key impacts from a user perspective, starting with the KPIs used to analyze insurance companies and applied under the new accounting standard. A question and answer session is also planned.
Roundtable participants will attempt to answer a number of questions, including: what are the main changes in the presentation of insurance company results? what are the expected impacts of climate change in the new Combined Ratio aligned with IFRS 17 accounting standards? Will the adoption of IFRS17 affect corporate business and investment decisions What is the state of the art of IFRS 17 implementation in large insurance companies?

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