OVERVIEW

IFRS 17 constitutes a revolution in the way (re)insurance financial statements perceived and interpreted. The course analyses the organisational and accounting impacts of IFRS 17 implementation, with reference to the business functions involved in the use of financial statement indicators. The course focus is on the accounting rules and application of the new standard, including the related disclosures and the use of old and new KPIs.

It is essential for middle and top management to measure the accounting profitability of the insurance products. This point is key for budgeting and commercial purposes but also for analysing asset allocation options to reduce volatility. The course helps to understand the key components and drivers in expected future profitability that will appear in the analysis of CSM (Contractual Service Margin). It provides examples of external and internal key drivers causing the CSM volatility and supports the management in evaluating measures to reduce volatility.

In addition, the training course provides an overview on the IFRS 17 issues and problems discussed in the European round tables from the users’ point of view thanks to the lecturers’ participation in EFFAS and EFRAG working groups.

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Schedule program and exam: Spring ’23 (to follow)

TARGET AUDIENCE

Within the individual insurance companies the functions heavily impacted by the new standard are Finance, Actuarial department, IT, Executive and Board management that need to understand the new KPIs and drivers of the results.

The IFRS 17 course is aimed at insurance business managers, insurance consultants, planning and controlling managers, investor relations managers, CFOs, accountants and controllers, risk managers, actuaries, insurance underwriters, asset managers and portfolio managers, financial market operators, wealth managers and client advisors.

Format

The programme includes twelve hours of teaching in total, divided in six seminars of two hours each. The kickoff (four hours) and the final session (two hours) are conducted in presence, the other seminars are provided in webinar format.

The study material on the learning platform includes the complete syllabus and contains videos, course presentations, further reading and test questions.

Course language is English

ADMISSION

There are no admission requirements.

CERTIFICATION / RECOGNITION

The certificate on IFRS 17 in Insurance Financial Analysis is awarded after having completed the course and successfully passed the examination.