IFRS 17

Nuanced, comprehensive—and challenging

The new IFRS standard for insurance contracts promises to have a transformative effect on insurers' financial reporting.

Navigating choices

Integrated expertise required

IFRS 17 is expected to raise a number of practical challenges for insurance companies. It is an accounting standard, but implementation will require a multi-disciplinary program with involvement from accounting, risk management, and actuarial teams.

Video

IFRS 17: A daunting new requirement for insurers

A new global accounting standard poses operational and strategic challenges.

Video

The choices insurers face when implementing IFRS 17

Milliman consultant Thomas Bulpitt talks about the choices insurers make when implementing IFRS 17 and how insurers should handle risk adjustment.

This video was produced by InsuranceERM

Report

IFRS 17 benchmarking: FY 2023

This analysis focuses specifically on evaluating the performance or value…

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Briefing note

Process improvements & efficiencies: Getting more with less

In the rapidly evolving insurance industry, process improvements have become a…

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White paper

Impact of rising interest rates globally: A blessing or a curse for the solvency position?

With rising rates and high inflation, insurers worldwide need robust frameworks…

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White paper

How might IFRS 17 change European insurance M&A?

While we don’t expect IFRS 17 to fundamentally change insurance mergers…

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Article

IFRS 17: Transition practical issues

We cover some of the practical issues companies experience when calculating the…

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Article

Setting discount rates under IFRS 17: Getting the job done

IFRS 17 requires preparers of accounts to derive discount rates for the…

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Article

Setting discount rates under IFRS 17: Getting the job done—Paper 2: Setting the approach

This paper is part of a series covering the overall process for discount rates…

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Article

Setting discount rates under IFRS 17: Getting the job done - Paper 3: Some practical considerations for reference portfolios

The principles-based approach under International Financial Reporting Standard…

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Article

IFRS 17: Deriving the confidence level for the Risk Adjustment: A case study for life (re)insurers

This paper presents a solution to address (re)insurers’ challenges,…

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Article

IFRS 17 vs. US GAAP LDTI: Different animals?

The International Financial Reporting Standard for insurance contracts and US…

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Article

Impact of IFRS 17 on insurance product pricing and design

International Financial Reporting Standard 17 (IFRS 17) represents a fundamental…

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Issue Brief

Amendments to IFRS 17 from April 2019 IASB Meeting

At the April IASB meeting, the Board discussed the next steps for the process of…

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Article

IFRS17 coverage units for CSM amortization

Insurers should carefully examine the consequences and reasonableness of…

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Article

IFRS 17: Considerations for health insurers

While IFRS 17 aims to bring increased transparency in the financial reporting by…

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Article

Amendments to IFRS 17 from January 2019 IASB Meeting

At the January 2019 IASB meeting, four issues regarding criteria by which any…

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Article

Amendments to IFRS 17 from March 2019 IASB Meeting

Milliman consultants have produced a summary of the March IASB meeting and the…

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Article

Amendments to IFRS 17 from April 2019 IASB Meeting

Since the publication of IFRS 17 in May 2017, the insurance industry has begun…

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Article

IFRS 17 Transition Resource Group April meeting summary

Milliman consultants have prepared a summary of the key points arising from the…

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Article

IFRS 17: Where to from here?

This presentation, given at the Society of Actuaries in Ireland’s annual…

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Article

Milliman IFRS 17 Preparedness Survey 2018: UK and EU highlights

At the end of 2018, Milliman conducted a global survey to measure the…

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Article

2018 IFRS Preparedness Survey

At the end of 2018, Milliman conducted a global survey to measure the…

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Article

2018 IFRS 17 Preparedness Survey: Turkey and Europe highlights

This report focuses on the preparedness of Turkish insurers and reinsurers for…

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Article

IFRS 17: Fair Value Approach to Transition

This briefing note discusses considerations when determining the Fair Value of…

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