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The International Accounting Standards Board (IASB) has published the long awaited IFRS 17 insurance contracts standard. For the first time insurers will be on a level footing internationally.
We look forward to you joining us for a discussion on the general principles about presentation under the new standard. Hear from KPMG’s network of subject matter experts as they walk through the Premium Allocation Approach, the scope and implications of the Variable Fee Approach and its application to insurance contracts with direct participation features and accounting for reinsurance contracts held.
This is the second webcast in our series following the recent publication of the new standard. Our final webcast for the summer will be on 19 July and will focus on transition.
Following this webcast, participants will be able to explain at a high level:
general principles underpinning presentation in the statements of financial position and financial performance applicable to all insurers
the operation of the Premium Allocation Approach, primarily of interest to many property casualty insurers
implications of the Variable Fee Approach including qualifying for this approach, and comparison with the General Measurement Model, primarily of interest to long term insurers
accounting for reinsurance contracts held, of interest to both short term and long term insurers