In this podcast Darryl Wagner, Principal with Deloitte Consulting, discussed the complexities and principles of IFRS 17, highlighting its goal to standardize insurance accounting globally. He explained the building blocks of IFRS 17, including best estimate cash flows, risk adjustment, and contractual service margin (CSM). Darryl emphasized the significant data and technology requirements for implementation and the importance of cross-disciplinary collaboration among actuaries, accountants, and technology teams. He also compared IFRS 17 with US GAAP, noting similarities and key differences.
More dynamic content such as this is available on the SOAs Professional Development Edge+ product. https://www.soa.org/prof-dev/pd-edge/
Be sure to take the IFRS 17 course in the Life Learning track of Professional Development Edge+ for more insights.
Contributors: Darryl Wagner, FSA, MAAA; Jon Forster ASA, MAAA
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