IFRS 17 is revolutionizing insurance reporting across more than 140 jurisdictions worldwide. This mandatory standard is transforming how insurers operate, impacting all major international insurance groups. As IFRS 17 becomes the new norm, a comprehensive understanding of its principles and implementation strategies is crucial for professionals in the field. Navigating IFRS 17: A Practical Guide to Accounting & Actuarial Implementation, authored by Sunil Kansal and Michael Winkler, occupies a unique position as the definitive guidance resource for both accountants and actuaries. Despite IFRS 17 being mandatory, a significant number of insurance organizations are still far from full implementation. Many have just crossed the initial threshold and require substantial improvements, while even large companies that believe they have fully implemented IFRS 17 must address numerous critical and controversial areas. This book thoroughly tackles these complex issues, providing essential insights and strategies. Key features of the book include: - In-depth Analysis: Demystifying the principles and requirements of IFRS 17, enabling readers to comprehend its background, potential pitfalls, and lessons learned. - Practical Guidance: Providing a step-by-step approach to understanding and implementing IFRS 17, ensuring a smooth transition. - Comprehensive Coverage: Detailed discussions on leveraging Solvency II work, structuring portfolios, cash flows, discounting, risk adjustment, contractual service margin, and designing the accounting framework. - Expert Insights: Authored by industry leaders, the book offers insights from real-world experiences and high-level technical expertise. Unlike other publications that focus solely on the accounting perspective or specific regions,”Navigating IFRS 17” offers a holistic view that bridges the gap between accounting and actuarialpractices. It is an indispensable resource for CFOs, CROs, accountants, actuaries, risk managers, market analysts, and students in accounting and actuarial academic institutions.
