Key objectives:
- a brief historic overview of accounting for UK insurers;
- examining recent IASB developments, covering both the Insurance Contracts Standard IFRS 17 and other developments affecting insurers;
- setting out key issues affecting life insurers arising from recent developments;
- providing a comparison of the measurement models found within the IFRS 17, Solvency II and supplementary reporting;a possible future role for supplementary reporting.
See additional information about the working party
Key outputs:
- A research paper
- A presentation at the Life Conference in 2019
- A sessional meeting on 18 May 2020
- An article on IFRS 17 – impact on UK annuity business
- An article on IFRS 17 - Impact on reinsurance
- An article on IFRS 17 - Impact on UK protection business
- An article on IFRS 17 - Impact on UK with profits business
- An article in The Actuary
| Chair: | Dominic Veney |
|---|---|
| Membership: | 11 |
| Established: | 2018 |
Contact Details
If you want more information about this research working party please contact the Communities Team.
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Events calendar
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CILA 2022
23 May 2022 - 24 May 2022We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; transitioning to Net Zero; increased inflationary pressures and supply chain issues; to self-imposed changes in regulatory requirements. CILA 2022 focuses on these challenges to ensure we continue to be informed and remain battle ready, as well as showcasing highlights of recent CMI outputs.
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Opportunity to participate in a virtual Roundtable Discussion hosted by the IFoA in conjunction with the City of London Corporation’s Socio-economic Diversity Taskforce
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Annual General Meeting 2022
15 June 2022In the spirit of fostering the IFoA’s vibrant, global community and enabling our members to participate, we have decided to hold our AGM virtually again this year. This allows for greater accessibility to this important annual event, and for greater accountability of our organisation.
The Business of the AGM
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IFoA Presidential Address 2022
16 June 2022Join newly inaugurated IFoA President, Matt Saker, for his Presidential Address.
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The IFoA Conference 2022
133 Houndsditch, London EC3A 7BX and Online22 June 2022 - 23 June 2022
We’re delighted to welcome you back to our first in-person conference since early 2020, also being delivered virtually in our first-ever hybrid event. The theme of our inaugural two-day conference is ‘Focusing on tomorrow’s actuary’ and will explore the contribution actuarial science is making to some of tomorrow’s biggest issues.
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This webinar will cover:
• Some background on the risks of misselling in an ESG context, including the DWS case
• Achieving positive impact is a strong antidote to the risks of greenwashing or ESG misselling, however this risks having a tension with fiduciary responsibilities
• This tension can be resolved with a concept called Universal Ownership
• Under Universal ownership, investors have an appetite to make a loss in order to achieve positive impact, and yet still have no compromise on their fiduciary responsibilities
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This session will focus on the transformation roadmap of the healthcare sector in KSA and the role of actuarial capabilities in enhancing its evolution to the desired end stage as per the objectives of the Vision 2030. The discussion will focus how the system has evolved so far and shed light on the expected future changes. Through examining the transformation, we will highlight how the sector is and can use actuarial expertise to not only assist with this transformation but also use basic actuarial principles to identify the key risks and their respective mitigation strategies.
