IFRS 17 in a nutshell
Recap of the key objectives, principles and mechanisms introduced by the standard.
We hosted a complimentary breakfast briefing with Junaid Khan from our Actuarial, Risk & Quants Practice in South Africa.
Our experience of working with clients on IFRS 17 dates as early as 2013, and this puts us into the business end of implementation projects at a number of the largest insurance groups. Thus the session is geared towards sharing our insights/perspectives, challenges likely to be faced based on the experiences and lessons learned from these projects. We have also a range of tools/solutions and accelerators that we developed and are offering to clients to make adoption of IFRS 17 quicker and cheaper, whilst minimising the risk of surprises.
In this briefing, we shared our insights and knowledge freely and openly. We welcome you to engage with us based on your experiences to date!
Recap of the key objectives, principles and mechanisms introduced by the standard.
Junaid Khan is a Partner within PwC’s Actuarial Risk & Quants practice. He has led a number of insurance advisory and assurance engagements within South African, Rest of Africa Middle East as well as across the globe. Over the last 2 years he has been involved in various IFRS 17 implementation initiatives.
IFRS 17 is the biggest shake up of insurance reporting for decades, impacting all insurers reporting under IFRS. The new standard will not change the amount of profit you make over the lifetime of your insurance business, but it has the potential to massively shift the trajectory of these profits.
As a leading provider of professional services to insurance organisations across the globe PwC has extensive knowledge of the issues and challenges that insurers face with IFRS 17. Helping you to plan and understand how you can use IFRS 17 outputs to better inform your decision making is our priority. Our credentials, capabilities and experts span across the globe, with over 160 IFRS 17 territory champions who are ready to help to support you in this journey.
Date: Thursday 5th September 2019
Timing: 15.00 BST / 10.00 EDT / 22.00 HKT
IFRS 17 continues to evolve & develop. Join PwC’s interactive global IFRS 17 webcast on Thursday 5 September 2019 to hear from Alex Bertolotti, Alwin Swales, Gail Tucker and the IASB’s Nick Anderson to hear the latest developments.
Following the IASB’s vote to defer the start date for IFRS 17 until 1 January 2022, we have been speaking with clients across the globe about how this might affect their implementation plans.
Watch the reply of our webcast from 17th January 2019, hosted by Alex Bertolotti, PwC’s IFRS 17 leader, with Gail Tucker (PwC Global Technical leader), Alwin Swales (PwC UK Technology Consulting Leader) and Darrel Scott from the IASB board, to find out how insurers are using their extra time, helping to inform your own decision making - no matter what stage you have reached.
It is now more than one year since the announcement of IFRS 17 and the scale of the implementation challenge is becoming clear.
Watch the replay of our webcast to see PwC’s IFRS 17 leaders and Darrel Scott, IASB board member, discussing progress to date.
We shared stories of the varied ways companies around the world are tackling their IFRS 17 programmes, and discuss some of the issues that have arisen along the way. We also provided news of the latest developments at the IASB and the Transition Resource Group.
This webcast is suitable for all members of IFRS 17 teams, as well as other stakeholders in the business that want to get a better understanding of progress across the global insurance community.