VIRTUAL IFRS 17 Forum 2020

Reviewing the latest IFRS17 trends, methodology and concluding plans for timelines and implementation

5TH EDITION IFRS 17, 2020

5-6 November, 2020 | Virtual Event

TRANSITION & IMPLEMENTATION
Reviewing the final requirements and integration with systems

ENDORSEMENT PROCESS
Understanding how to manage complexities within the endorsement process

KEY PERFORMANCE INDICATORS
Establishing KPIs to manage and understand business performance

CONTRACTUAL SERVICE MARGIN
Measuring and incorporating CSM and classification of products under IFRS 17

RE-INSURANCE
Uncertainty and expectations of product treatments for reinsurance under IFRS 17

COMMUNICATION
Communicating the impacts of IFRS 17 to internal and external stakeholders

View the full agenda here
eeLain Ong

EeLain Ong
CFO
DHL Insurance

Alexandre Tzenev

Alexandre Tzenev
Managing Director – Financial Solutions EMEA
SCOR Global Life

Oscar Kitasoboka

Oscar Kitasoboka
Chief Actuary
UAE Insurance Authority

Stephen bishop

Stephen Bishop
Business Project Manager – IFRS 17 Reinsurance
Munich Re

Brian Birch

Brian Birch
IFRS 17 Project Manager
Randall & Quilter

View full speaker line up
Sponsorship

CAN YOUR ORGANISATION CONTRIBUTE?

Please contact the Center for Financial Professionals today to discuss how we can deliver your thought-leadership at the event, help you generate leads, and provide you with unique networking and branding opportunities. For more information on what we can offer, please contact sales@cefpro.com or call us on +1 888 677 7007 where a member of the team will be happy to tailor the right package for you.

08:50 Chair’s opening remarks

TRANSITION & IMPLEMENTATION – PANEL DISCUSSION
9:00 Reviewing the final standard requirements and integration with systems for effective implementation

  • Establishing principles around practicality
  • Reviewing status of integration of new actuarial system with current systems
  • Managing time pressure leading to portfolio shortcuts vs full implementation
  • Operational risk of portfolios at different stages of implementation
  • Analysing final standard with industry expectations
    • Clarity of perception of wording
  • Benchmarking difference in IFRS and US GAAP
  • Validating parallel runs across product

Oscar Kitasoboka, Chief Actuary, UAE Insurance Authority
Stephen Bishop, Business Project Manager – IFRS 17 Reinsurance, Munich Re
Brian Birch, IFRS 17 Project Manager, Randall & Quilter

ENDORSEMENT PROCESS
09:35 Managing complexity of the endorsement process and considerations for global institutions with impact of Brexit

  • Reviewing endorsement advice from the commission
    • Meeting the technical criteria
  • Managing expected timeline of endorsement with uncertainty
  • Brexit: UK submitting own endorsement outside EU
  • Reviewing early interaction of the timing of the EU endorsement decision

Peter Drummond, Senior Project Director – UK Endorsement Board, Financial Reporting Council

10:05 Refreshment break and networking

10:35 Session reserved, details to follow shortly

10:55 -15 minute refreshment break and networking

CONTRACTUAL SERVICE MARGIN
11:10 Measuring and incorporating contractual service margin and classification of products under IFRS 17

  • Reviewing investment return
  • Establishing how to measure the earnings over the number years
    • Implementing recognition patterns
    • Including the investment margins versus just a pure insurance margin
  • Recognising CSM on the classification of the product
  • Measuring and realising relative margins
    • How much and what time
  • Treatment of pure investment products under IFRS17

Martin Schmid, Head of IFRS 17, Baloise Insurance Company

11:40 Session reserved, details to follow shortly

12:00 Chair’s closing remarks

08:50 Chair’s opening remarks

KEY PERFORMANCE INDICATORS
09:00 Establishing KPIs to manage and understand business performance under IFRS17 reporting

  • Reviewing how KPIs are embedded into reporting
  • Compatibility of KPIs with elements within the standard
    • E.g. reviewing revenue and insurance expense as one unit or two
    • Reviewing creating additional calculations and discourse
  • Corresponding principles with the US GAPP standards
  • Using parallel runs to preview the standard to understand KPIs

Jo Clube, Group Technical Accounting Director, Aviva

09:30 Session reserved, details to follow shortly

09:50 Refreshment break and networking

REINSURANCE
10:20 Managing uncertainty and expectations of product treatments for reinsurance and effective treatment under IFRS 17

  • Reviewing recovery of losses for onerous insurance contracts
  • Managing IFRS17 grouping of contracts
    • Achieving offset on onerous and non-onerous contracts
  • Understanding new benefits and potential use of reinsurance
    • Optimising the risk adjustment in the reinsurance
  • Assessment of Contract Boundaries

Alexandre Tzenev, Managing Director – Financial Solutions EMEA, SCOR Global Life

10:50 -15 minute refreshment break and networking

11:05 Session reserved, details to follow shortly

COMMUNICATION – PANEL DISCUSSION
11:25 Communication and understanding of impacts of IFRS17 on company accounts to internal and external stakeholders

  • Explaining potential shifts in numbers to stakeholders and market
  • Changes to income statement and premiums included in the future
  • Treatment of investment components under IFRS 17
  • Changes to calculating profits and recognition period
    • Variations in recognition of profits over time, upfront or at end of contract
  • Maintaining relationships with investors and explaining changes
  • When should investors be prepared and educated on future numbers?
  • Understanding and interpreting results to report to management

Oscar Kitasoboka, Chief Actuary, UAE Insurance Authority
EeLain Ong, CFO, DHL Insurance

12:00 Chair’s closing remarks

View the full speaker line up
Register here
Download the brochure here
BrianBirch

Brian Birch
IFRS 17 project manager
Randall & Quilter

Biography

Brian Birch will be presenting at IFRS 17

StephenBishop

Stephen Bishop
Business project manager – IFRS 17 Reinsurance
Munich Re

Biography

Stephen Bishop will be presenting at IFRS 17

JoClube

Jo Clube
Group Technical Accounting Director
Aviva

Biography

Jo Clube is the Accounting Policy Development Lead and Technical Accounting Director at Aviva PLC, responsible for IFRS policy and developments, focusing particularly on IFRS 17, the new standard for insurance contracts. Jo represents the UK industry on the IASB’s Transition Resource Group which seeks to support the Global implementation of IFRS 17.

Peter Drummond

Peter Drummond
Senior Project Director – UK Endorsement Board
Financial Reporting Council

Biography

Peter is a Senior Project Director in the secretariat of the UK Endorsement Board. He leads the project to assess IFRS 17 against the endorsement criteria set out in UK legislation for the adoption of IFRS for use in the UK.

Previously Peter worked for HMRC, advising tax and policy specialists on accounting practice and developments, and was part of the team that developed the current life tax regime. Peter trained with PricewaterhouseCoopers and immediately before joining HMRC he worked for PwC in London as a Director in Transaction Services.

Oscar

Oscar Kitasoboka
Chief Actuary
UAE Insurance Authority

Biography

Oscar is Chief Actuary at the UAE Insurance Authority, leading the implementation of IFRS 17 and risk-based regulation. He has spoken about IFRS 17 matters and its challenges at many events in Europe and the Gulf. He was previously Chief Actuary at Legal & General’s non-life insurance business, has 20 years’ experience in insurance and holds an MBA from the Edinburgh Business School.

EeLainOng

EeLain Ong
CFO, Global Finance Director
DHL Insurance

Biography

EeLain Ong will be presenting at IFRS 17

MartinSchmid

Martin Schmid
Head Valuation Life
Baloise Insurance Company

Biography

As Head of Valuation Life I have been responsible for the cash flow, valuation and risk model development, its application and the reporting in local and IFRS reserving, solvency, MCEV, as well as ALM.
I helped shaping the regulatory framework within the industry’s working groups for local reservation, SST and am doing now so for IFRS 17.
Now I am driving the IFRS 17 development within the financial transformation project on group level, where I am responsible for the methodology, the implementation of the IFRS 17 calculation engine and the posting rules of the results.
I advise my co-project leads in financial steering, presentation, and process matters as far as IFRS 17 is concerned.

Alexandre Tzenev 2019 pic

Alexandre Tzenev
Head of Strucruring EMEA
SCOR Global Life

Biography

Alex has over 15 years of experience in the structuring of reinsurance financing solutions – first in New York with Lehman Brothers and in London with Swiss Re. Alex is currently the head of EMEA financial solutions at SCOR Global Life with a responsibility of assisting clients with capital or accounting optimization issues. He is a Fellow of the Society of Actuaries and CFA.

Sponsor

CCH Tagetik


CCH Tagetik is part of the Tax and Accounting Division of Wolters Kluwer. Relied upon by nearly 75,000 users in over 35 countries, CCH Tagetik is the leading finance platform that specialises in budgeting and planning, forecasting and reporting, consolidation and regulatory compliance.

CCH Tagetik has over 200 insurance customers and has a wealth of experience within regulation implementations such as Solvency II and IFRS 16.

CCH Tagetik’s award winning IFRS 17 solution is pre-configured and non-disruptive. It can connect seamlessly to other databases and spreadsheets – including SAP HANA – without having to write any code. Drop by our exhibitor stand to find out more information.

Sponsorship
CAN YOUR ORGANISATION CONTRIBUTE?

Please contact the Center for Financial Professionals today to discuss how we can deliver your thought-leadership at the event, help you generate leads, and provide you with unique networking and branding opportunities. For more information on what we can offer, please contact sales@cefpro.com or call us on +1 888 677 7007 where a member of the team will be happy to tailor the right package for you.

Can I present at the IFRS 17 2020 Forum?

Yes, the Center for Financial Professionals are happy to discuss speaking opportunities at the IFRS 17 2020 Forum. For further information on this please contact alice.kelly@cefpro.com or call us on +44 (0) 20 7164 6582.

What is the cost and what is included in the registration fee?

This virtual Forum is free to attend for those representing financial institutions or government bodies. There is a nominal fee for those representing a service provider / vendor / consultancy. For more information please contact amy.greene@cefpro.com

Where can I find the Forum documentation and speaker presentations?

All registered attendees will receive an email with access to documentation and speaker presentations after the Forum* We will work with our presenters to include as many presentations as possible. *Please note that our speakers often have to gain permission from their relevant compliance departments to release their presentations. On rare occasions compliance may not allow presentations to be distributed.

Are there opportunities to share my thought-leadership at the IFRS 17 2020 Forum?

Yes there are plenty of opportunities for the Center for Financial Professionals to share thought-leadership to the attendees of IFRS 17 2020 Forum and our wider risk professionals community. At the event We can distribute your material to the attendees, offer you an exhibition booth, and provide speaking opportunities so that you may enjoy a more prominent presence at the Forum. Visit the Sponsor tab for further information or contact sales@cefpro.com / +44 (0) 207 164 6582. Risk Insights Feature your content on our Risk Insights website and supporting Risk Insights monthly newsletter. For further information please download our media pack here.

Are media partnerships available for the IFRS 17 Forum?

Yes. As part of a media partnership we can offer a variety of options to increase the branding and awareness of your association, company, certificate, publication or media. We are flexible with what we can offer however we usually:

  • Provide a discounted rate to attend
  • Place your logo and profile on the Forum website
  • Place your logo on the Forum brochure
  • Place your logo on promotional content where applicable
  • Distribute your media/marketing at the Forum
  • Promote through social media channels

To discuss this further please contact amy.greene@cefpro.com or call +44 (0) 20 7164 6582.

IF YOU ARE REPRESENTING A REGULATED FINANCIAL INSTITUTION OR GOVERNMENT BODY…

You are able to register for free using our link below. All registrations are manually reviewed and approved before any confirmation emails are sent. If you have any questions please email amy.greene@cefpro.com

Register here

IF YOU ARE REPRESENTING A SERVICE PROVIDER, VENDOR OR CONSULTANT…

You are able to register for a nominal fee of £299. Online registration will be made available shortly.

All registrations are manually reviewed and approved before any confirmation emails are sent.

If you would like to register or have any questions please email amy.greene@cefpro.com

Sponsor
Tagetik

Connect With Us
#IFRS17

Center for Financial Professionals
Stay Updated
Receive CeFPro’s news, magazine, webinars, research reports and more...
I agree to receive emails from CeFPro (no spam or third parties)
Subscribe Now!
I agree to receive emails from CeFPro (no spam or third parties)
Get 50% OFF
Join our newsletter and get 50% off your next purchase
Privacy Policy. This information will never be shared for third part
Subscribe Now!