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IFRS17 Workshop

Thursday 14 September 2017 09:00 - 17:00

The Life Board and Life ECPD Sub-committee are running a one-day workshop on IFRS 17 on 14 September. 

Who should attend?

All actuaries working in the Life practice area. This event may also be of cross practice interest to actuaries with a life background and who might work with IFRS 17 in a Pensions, F&I, Risk or Health and Care setting.

The Life Board and Life ECPD Sub-committee are running a one-day workshop on IFRS 17 on 14 September. 

The IASB finally issued the IFRS 17 standard in May, after a gestation period of 20 years. The Standard proposes fundamental changes to how insurance contracts will be valued, and to how the performance of Insurance companies will be valued.

In this seminar, we will provided a detailed understanding of the key concepts of the standard, as well as thought provoking sessions on how implementation will impact people, process and systems. we will also share views on how the new standard will change the way insurers are viewed in the market, and share perspectives from within and outside of the profession.

Event organiser

Contact Niki Park for more information.

Niki.Park@actuaries.org.uk

020 7632 2152

09.00-09.30 Registration and Refreshments
09.30-09.35 Intro/Welcome: Chair: Dominic Veney, PwC
09.35-10.00

A brief history of IFRS 17

Background to the objectives, development and status of the standard

Speaker: Joanna Yeoh, IASB

10.00-11.00

Overview of IFRS 17

Overview of the standard and the measurement models

Speaker: David Burton, EY

11.00-11.30 Morning refreshments
11.30-12.30

Key Issues and Interpretation

This session will deep dive into some of the contentious issues that remain around IFRS 17 including discount rates, risk adjustment, unit of account and transition

Speakers: Matthew Ford and John Morley, Willis Towers Watson

12.30-13.30 Lunch
13.30-14.00

Building off Solvency II and the IFRS 17 disclosure requirements

Given the investment firms have already made in Solvency II, this talk will explore a comparison of the IFRS 17 and Solvency II measurement models and what therefore can and can not be leveraged to deliver IFRS 17. In addition, it will consider the IFRS 17 disclosure requirements.

Speaker: Anthony Coughlan

14.00-14.30

Where Companies are with IFRS17 and Project Plans

Where companies are with IFRS17 and what a project plan might look like?

Speaker: James Isherwood, PwC

14.30-15.15

IT, Systems and Transformation (Panel)

How will IFRS 17 impact IT, what can you do to minimise cost and maximise benefits.

Panel Chair: James Tuley, PRA

Panel: Martina Neary, Ernst Young, Mark Brown, FIS, Christy Coughlan, Moodys Analytics, Patrick Penzler, Willis Towers Watson

15.15-15.45 Afternoon refreshments
15.45-16.30

Investor view

Investor view of IRFS 17

Speaker: Kamran Foroughi, Willis Towers Watson/ IFoA FRG Group

16.30-17.15

Potential impact of IFRS 17 for the Life industry (Panel)

IFRS 17 is a significant change, how will it impact what companies do, what they sell and how they are perceived.

Panel Chair: Colin Dutkiewicz, Aon Benfield

Panel: Jo Clube, Aviva, Will Hakwins, KBW Research and Nick Dexter, PRA

17.15-17.20 Close

Location

Address

Staple Inn Hall, High Holborn, London, WC1V 7QJ

Nearest Public Transport

Chancery Lane Station (Central Line)