Event Agenda

Agenda

IFRS 17: Managing Insurance Contracts

Confirmed Speakers:

  • Milena Lacheta, Head of EMEA Regulatory and Rating Agency Advisory, Aon Benfield Analytics 
  • Mark Spencer, Financial Services Accounting Advisory Leader, BDO LLP
  • Peter Plat, Independent Consultant 
  • Remo Cavegn, Finance Program Director, Allianz SE
  • Steven Morrison, Senior Director, Research, Moodys Analytics
  • Cassandra Hannibal, Director, Research, Moodys Analytics
  • Andrew Beattie, Senior Manager IFRS 17 Implementation, Zurich

Day 1 | September 19th

08:30

Registration and Refreshments

09:00

Overview of IFRS 17 Implementation 

  • IFRS 17 the missing standard – why does it matter, how will it help?
  • Underlying principles and comparison to IFRS 4
  • High level overview of measurement models and their usage
  • What will it look like? Changes to presentation and reporting
  • The next 3 to 5 years - What are the implementation challenges?

Andrew Beattie, Senior Manager IFRS 17 Implementation, Zurich

10:30

Morning Break

11:00

Measurement models in detail

  • General measurement approach (Building Block Approach)
  • Premium allocation approach (PAA)
  • Variable fee approach 

Determination of investment components 

  • Applying IFRS 17 to all components of the host insurance contract
  • Treatment of investment components 
  • Variable fee approach

12:30

Lunch

13:30

Practical insight in to systems management

  • Addressing key challenges of system requirements
  • Understanding the business impacts of IFRS 17 when adapting internal processes 
  • Availability of data and data flows
  • Data quality and management issues
  • How do we solve these challenges?
  • Role of machine learning

Remo Cavegn, Finance Program Director, Allianz SE

15:00

Afternoon break

15:30

IFRS 17 profit emergence and volatility

  • Impact of underwriting risks: profitable vs onerous contracts
  • Impact of financial risks
  • Interaction with assets and IFRS 9
  • Case studies

Steven Morrison, Senior Director, Research, Moodys Analytics

Cassandra Hannibal, Director, Research, Moodys Analytics

17:00

End of day one

Day 2 | September 20th

08:30

Refreshments

09:00

Applying IFRS 17 to reinsurance

  • How do you treat a reinsurance contract?
  • Challenges of accounting mismatches 
  • Internal reinsurance 

Milena Lacheta, Head of EMEA Regulatory and Rating Agency Advisory, Aon Benfield Analytics 

10:30

Morning break

11:00

Approach to transition

  • Full retrospective approach 
  • Modified retrospective approach
  • Fair value approach
  • Choosing your approach

12:30

Lunch

13:30

Leveraging Solvency II models for developing IFRS 17 accounting models

  • Cash flow models 
  • Discount rate 
  • Granularity of information 
  • Probability-weighted estimates of the future cash flows
  • Learnings from Solvency II

15:00

Afternoon break

15:30

What next – to 2021 and beyond

  • Emerging issues
  • Implementing your plan, enhancing processes and controls
  • Getting your comparative balance sheets ready
  • Communication 
  • Industry consensus?
  • Non-insurance entities – how will they be impacted?

17:00

End of course