- Identify IFRS 17 implementation challenges faced by life insurers globally other than those covered by existing working parties
- Identifying possible interpretations and approaches to tackling those challenges
- Consider the operational as well as technical implications of the different approaches to ensure that recommendations are proportionate
- Provoke thought leadership and innovation within the industry through presentations at various forums to gain wider input.
- Analysing the technical, operational, and financial impacts that arise with respect to the calculation of the CSM at initial recognition and subsequent measurement. These include issues pertaining to:
- contract boundaries
- ‘locked-in’ financial assumptions
- coverage units
- reinsurance contracts held
- loss components
- with-profits funds
- the impact on management information and relevant KPIs
- In addressing these issues, the working party will also consider existing literature and research material produced by relevant stakeholders (e.g. IASB and TRG; EFRAG; IFoA and other international actuarial associations; ICAEW and other accountancy bodies; consulting and audit firms; regulators and national standard setters)
- A presentation to Yorkshire Actuarial Society (YAS) on 6 March 2019
- A LinkedIn Article: IFRS 17 Contractual Service Margin (CSM) Working Party, published on 2 March 2019
- A LinkedIn Article: Locked-in assumptions, published on 12 March 2019
- A LinkedIn Article: Transition, published on 18 March 2019
- A LinkedIn Article: Variable Fee Approach, published on 16 April 2019
- A LinkedIn Article: Fair value transition, published on 1 May 2019
- A LinkedIn Article: Adjustments to coverage units, published on 23 May 2019
- A LinkedIn Article: Identification of coverage units, published on 29 May 2019
- A LinkedIn Article: Determining the CSM - operational approaches using prior information, published on 11 June 2019
- A LinkedIn Article: Discounted vs undiscounted coverage units, published on 18 June 2019
- A LinkedIn Article: How to choose the measurement model, published on 17 July 2019
- A LinkedIn Article: Profit profiles under IFRS 4 and IFRS 17, published on 17 July 2019
- A LinkedIn Article: Modified Retrospective Approach, published on 17 July 2019
- A LinkedIn Article: Order of adjustments, published on 19 July 2019
- A LinkedIn Article: Determining the risk adjustment at the group of contracts level, published on 19 July 2019
- A LinkedIn Article: Transition - fair value vs modified retrospective, published on 11 August 2019
- A LinkedIn Article: Loss components_changes in FCF using current or locked in interest rates, published on 11 August 2019
- A LinkedIn Article: Aggregation of reinsurance contracts held, published on 23 September 2019
- A LinkedIn Article: Calculating value at initial recognition, published on 23 September 2019
- A LinkedIn Article: Challenges of proportionate reinsurance contracts held, published on 23 September 2019
- A LinkedIn Article: Discount rates at initial recognition, published on 7 October 2019
- A LinkedIn Article: Reinsurance contracts held - contract boundaries and recognition dates, published on 7 October 2019
- A LinkedIn Article: Reinsurance and the risk mitigation option, published on 23 October 2019
- A LinkedIn Article: Why do loss components need to be amortised, published on 6 November 2019
- A LinkedIn Article: Comparing various loss component amortisation methods, published on 6 November 2019
- A LinkedIn Article: Advanced considers for loss components, published on 6 November 2019
- A LinkedIn Article: Setting consistent assumptions for reinsurance contracts held, published on 6 November 2019
- A LinkedIn Article: IFRS17 Determining contract boundaries under IFRS 17, published on 18 November 2019
- A LinkedIn Article: IFRS 17 Impact on KPIs, Published on 18 December 2019
- A Linkedin Article: IFRS 17 CSM Adjustment for Experience Variances, published on 13 January 2020
- A Linkedin Article: IFRS 17_Estimating future new business for reinsurance contracts held, published on 28 January 2020
- A presentation at the Life Conference in 2019
- An article in The Actuary - June 2020
- Management Information Article in May 2020
- Sessional Meeting and Final Paper: A Life Insurance Perspective Oct 2020
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