Schedule of IFRS 17 - Advanced Topics - Complete program (16 CPD)

Part I (16h00 - 17h00) : IFRS 9 : Accounting standard for financial instruments

• Overview & Scope
• Classification and measurement
• SPPI test and Underlying Business model
• Expected Credit Loss model
• Disclosures
• Expected impact

by Laurent Serez & Daniel Vossensteyn

Part II (17h00 - 18h00) (Transition to IFRS 17)

• Introduction
• Overview of requirements
• Fully retrospective approach
• Modified retrospective approach
• Fair value approach
• Disclosures

by Laurent Serez

1. Short reminder

• group of insurance contracts (level of aggregation of insurance contracts)
• initial recognition of insurance contracts
• measurement approaches
• discount rates
• risk adjustment
• liability for the remaining coverage (LRC) and liability for incurred claims (LIC) within a group liability

2. Contractual Service Margin (CSM)

3. Coverage Units and impacts on the evolution of CSM

4. Simplified examle on CSM and Coverage Units

5. Onerous contracts and Loss Component (LC)

6. Some examples to illustrate the LC concept

7. The particular case of reinsurance contracts held

by Philippe De Longueville & Damien Kreit

• Types of assumptions used in cash flow projections
• Several expense items
• Ambiguity around expenses
• Allocation of expenses
• Expected versus actual expenses

by Servaas Houben

• IFRS 17 Recap Slides
• LRC measured applying PAA: Overview
• Introduction
• Measurement Models
• PAA Eligibility Criteria - Scope
• Level of Aggregation: Contract Grouping and onerous testing
• Discounting and financing component
• Acquired contracts in their settlement period
• Initial recognition
• Principles
• Illustrative example – T-account (Bridging the gap between IFRS 17 and IFRS 4/Belgian GAAP)
• Subsequent Measurement
• Principles
• Illustrative example – T-account (Bridging the gap between IFRS 17 and IFRS 4/Belgian GAAP)
• LIC measured applying BBA: Overview
• Introduction
• Measurement Models (BEL+RA, No CSM)
• Discounting and OCI
• Illustrative example – T-account (Bridging the gap between IFRS 17 and IFRS 4/Belgian GAAP)
• Conclusion (Hot topics discussed at the moment within the NL industry)?
• Q&A

 by Olivia Saffery

• IFRS 17 Recap Slides
• Introduction
• Measurement Models
• Scope - Contracts with Asset dependent CFs – Direct vs Indirect participating contracts
• VFA vs Modified BBA Eligibility Criteria
• Discounting – OCI – Crediting rate vs Locked-in rate.
• Initial Recognition
• Overview of Requirements (BEL – RA – CSM)
• Illustrative example – T-account (Profitable vs Onerous contracts)
• Subsequent Measurement
• Overview of Requirements
• Fulfillment Cash-flows (BEL & RA)
• Roll Forward of balances (BEL & RA)
• Re-estimation of Non-financials assumptions
• Re-estimation of Financial assumptions
• CSM
• OCI - Discounting
• Illustrative example – T-account
• Conclusion (Hot topics discussed at the moment within the Life industry?)
• Q&A

by Olivia Saffery

IFRS17 is not as prescriptive as Solvency II. Its implementation requires methodological choices and expert judgements with a significant impact on financial reporting.

We will run through those key options during the session and illustrate their high level impact.

This should allow participants to get a better understanding of the positions taken by insurance entities on the market.

by Daphné de Leval

• Management reporting
• KPIs

By Evelien Brisard