Course curriculum

  • 1

    Welcome to IFRS 17 Introduction

    • Welcome to IFRS 17

  • 2

    0. Introduction

    • 0.1 Objective of the course

    • 0.2 Course Structure

    • 0.3 Course Contents

  • 3

    1. The Basics

    • 1.1 Overview

    • 1.2 The Background to IFRS 17

  • 4

    1.3 Important Concepts

    • Insurance Contract

    • Coverage Period

    • Cash Flows

    • Discount Rate

    • Discounted Cash Flow

    • Fulfilment Cash Flow

    • Risk Adjustment for Non-Financial Risk

    • Initial Recognition

    • Contractual Service Margin (CSM)

    • Subsequent Measurement

    • Onerous Contract

    • Liability for Remaining Coverage (LRC)

    • Liability for Incurred Claims (LIC)

    • Basic Concept Quiz

  • 5

    1.4 IFRS 17 Measurement Models

    • Introduction to Measurement Models

    • General Measurement Approach

    • Premium Allocation Approach

    • Variable Fee Approach

    • Measurement Approached Quiz

  • 6

    2.1 Data Preparation

    • 2.1.1 Overview

    • 2.1.2 Setting Assumptions

    • 2.1.3 Discount Rates

    • 2.1.4 Risk Adjustment

  • 7

    3. Practical Application

    • 3.1 Overview

    • 3.2 IFRS 17 - Practical Assignment

    • 3.3 Soft Coding

    • 3.4 Initial Recognition

    • 3.5 Fulfilment Cash Flows

    • 3.6 Reconciliation

    • 3.7 Subsequent Measurement

    • 3.8 Reconciliations - Subsequent Reporting Periods

    • 3.9 Balance Sheet

    • 3.10 Disclosures

    • 3.11 Statement of Profit or Loss

  • 8

    4. Reinsurance Contracts

    • Direct vs Reinsurance Accounting

  • 9

    Appendix and Further Resources

    • 1.0 IFRS 17 Technology Solutions: Build or Buy? Article

    • 1.1 Further delay to IFRS 17 and what this means for insurers - Webinar

    • 1.2 IFRS 17 Webinar - How Digital Transformation Impacts the Role of Finance and Actuarial

    • 1.3 IFRS 17: Contractual Service Margin (CSM) Article

    • 1.4 KPMG Illustrative disclosures for insurers Guide to annual financial statements IFRS 17 and IFRS 9

    • 1.5 International GAAP Limited Selected Illustrative disclosures for IFRS 17 Insurance Contracts

    • 1.6 Deloitte IFRS 17 Update Webinar

    • 1.7 Dufrasne IFRS 17 : a comparison with IFRS 4 and an analysis of the impact of its application

    • 1.8 EY Impacts of IFRS 17 insurance contracts accounting standard Considerations for data, systems and processes

    • 1.9 IFRS 17 SCOR CAMPUS 2018 Highlights on IFRS 17

    • 1.10 IFRS Foundation Understanding IFRS 17 Insurance Contracts National Standard-Setters

    • 1.11 IFRS Foundation IFRS 17 Insurance Contracts June 2020 Amendments

    • 1.12 IFRS 17 Materials - 3Blocks

    • 1.13 IFRS 17 presentations - 3Blocks

    • 1.14a Millennium Consulting - IFRS17 Online Discussion Recording

    • 1.14b Millennium Consulting - IFRS17 Online Discussion Material

    • References and Links