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IFRS 17: Transversal

The working party will investigate whether IFRS 17 meets its stated objective of ensuring that entities provide relevant information in a way that faithfully represents insurance contracts, the implications of IFRS 17 on insurance accounting, profit reporting and supplementary reporting and any IFRS 17 related issues arising for UK life insurers.

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:

 

Chair: Dominic Veney
Membership: 11
Established: 2018

Contact Details

If you want more information about this research working party please contact the Communities Team.

professional.communities@actuaries.org.uk

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Start date
E.g., 26/10/2020
End date
E.g., 26/10/2020

Events calendar

  • GIRO 2020 Virtual Conference

    Available to watch globally in November.
    02-13 November 2020
    Spaces available

     

    This year's GIRO has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the general insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's GI Online Learning Resource area

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    Patrick Kennedy, Partner at Gateley Legal and Founding Director of Entrust (a leading professional pensions trustee company), will be delivering an update on the latest legal developments during the course of 2020. With both a pensions legal perspective and over 25 years of trustee service, Patrick will seek to highlight how the letter of the law has continued to evolve against the backdrop of a difficult and challenging year

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    The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report. 

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    Covid-19 has required an urgent and cross-practice initiative to facilitate the extensive impact this pandemic has across all industries. IFoA members have been keen to contribute in a different way, so we developed the IFoA Covid-19 Action Taskforce [ICAT] to coordinate our effort, with a more efficient governance.

    We have over 500 volunteers and countless topics which we have amalgamated into 93 workstreams.