Experts from Mazars Insurance practice discussed the readiness of the insurance market to welcome this new standard.
IFRS 17 Insurance contracts will replace the current IFRS 4 on 1 January 2023
Insurers are expected to use IFRS 17 for the recognition, measurement, presentation, and disclosure of insurance contracts, which will affect many aspects of their day-to-day operations. Some insurers have already started their IFRS 17 projects and have dedicated teams to deal with the new requirements, while others are still trying to identify the areas they can leverage their existing processes to comply.
The webinar was introduced by Lionel Cazali, an Insurance Partner at Mazars, and his team covered the following areas:
- Natalia Mirin – will cover IFRS 17 hot topics on the Life Insurance side
- Olive Gaughan – will talk about Management Information and Key Performance indicators in IFRS 17
- Tom Ashmore – will talk about IFRS 17 hot topics on the General Insurance side