16 posts categorised "IFRS 17"

31 July 2018

IFRS 17: Global Webcast – Where are we 1 year on?

On the 27 June, three expert panel members and I took to the airwaves as part of PwC’s Global IFRS 17 Webcast, to discuss how IFRS 17 is developing one year on from the official announcement. In this blog, I will briefly summarise the keys points that were discussed.

13 July 2018

Is CSM starting to move centre stage for investors?

We have seen interest and focus on IFRS 17 by the investor and analyst community increase over the past year, with some publishing their own research and educational papers on its impact.

25 June 2018

IFRS 17: The Challenges of Reinsurance

We spend a lot of time travelling to many countries to meet with clients on IFRS 17 and one topic keeps coming - reinsurance. We hear again and again that this has been the forgotten area of the standard, but as companies get into the detail of what the standard actually says and how this interacts with their own reinsurance arrangements, or the data required, they are starting to realise this should be a priority.

07 June 2018

IFRS 17: How can digital training help you?

Insurers are well aware by this stage in their IFRS 17 journeys that the standard is likely to cause significant changes throughout their organisations. One area our clients are starting to focus on is training; namely, how much training, to whom and at what point in the journey do they start?

17 May 2018

Where are all the specialists needed to implement IFRS 17?

As I continue conversations about IFRS 17 implementation plans with companies across the globe, I can’t help but notice I am being asked the same question over and over: where are all the specialists needed to implement IFRS 17?

12 March 2018

IFRS 17: What it means for tax

In my last blog on IFRS 17, I spoke about the importance of involving auditors early on. In this blog I want to address the importance of tax considerations during the implementation of IFRS 17; after all, it’s real money and in an environment where cash is king, that tends to get people’s attention.

06 February 2018

IFRS 17: How best to involve your auditors

With less than 3 years now until IFRS 17 becomes effective, I would hope most insurers have already come to terms with the large role that auditors have to play in the IFRS 17 journey.

26 January 2018

Kick start your IFRS 17 training with PwC’s e-learning for insurers

Insurers have told us that they urgently need to improve their employees’ knowledge of the practical challenges and opportunities presented by the new standard. We explore some of the challenges with getting up to speed with IFRS 17 and how PwC's e-learning can help address these.

25 January 2018

IFRS 17: 2018 is a year of big decisions

A perfect storm of regulatory, tax authority, investor and analyst interest will make 2018 an interesting year. Read our latest blog to find out Alex Bertolotti's predictions of some of the main developments we can expect over the coming year.

11 January 2018

IFRS 17: a year in review

By Alex Bertolotti Blog Snapshot Noteworthy events of 2017 Reaction of the industry Scepticism vs. Acceptance It’s amazing the difference a year can make. At the start of 2017, it was unknown whether IFRS 17 would even materialise as a new standard; and if it did so, what form this...

23 November 2017

Self-build or multi-vendor: the challenges of IFRS 17 technology

By Richard Hart Blog snapshot: No single technology vendor has an end-to-end solution so a multi-vendor approach or self-build will be needed. IFRS 17 presents an opportunity to kick start more radical change to insurance technology. Get in contact for details of our New York, Toronto, Zurich, Hong Kong, Tokyo...

03 October 2017

How can you use your investment in Solvency II to implement IFRS 17?

By Anthony Coughlan Blog snapshot Insurance companies can use some models, systems and processes developed for Solvency II for IFRS 17. It is important to understand the differences between Solvency II and IFRS 17, not only so you know the scope of developments required, but also so you can manage...

22 September 2017

How IFRS 17 impacts CSM - Actuaries vs Finance

By Alwin Swales Blog Snapshot: The contractual service margin (CSM) is a significant part of IFRS 17 How are insurance companies factoring this into their IT strategy? As all insurance companies are probably aware by now, the introduction of IFRS 17 comes with many new requirements. One of these new...

10 August 2017

Tracking down unprofitable parts of your business with IFRS 17

By Nick Wilks Blog snapshot Many insurers view regulation as adding complexity and cost. Analysing data and tracking performance will help identify unprofitable business. Management can then make better informed strategic decisions to retain and generate profit. Regulation often causes a grimace on the face of many of my clients...

23 June 2017

IFRS 17 for general insurers – what’s all the fuss about?

By Graham Oswald Blog snapshot: General insurers should not underestimate the impact of IFRS 17 for insurance contracts There will be significant financial and operational impacts for general insurers General insurers need to invest time now to assess the size of their IFRS 17 project “IFRS17 is the biggest shake-up...

19 May 2017

Did insurers miss an open goal to resolve IT issues on Solvency II ahead of IFRS 17?

By Alwin Swales Blog snapshot: Insurance companies missed an opportunity to modernise their legacy IT systems estate during Solvency II Biggest impact on systems will be the speed of reporting required Keep an eye out for my series of blogs over the coming months Insurance companies had the chance of...