EFFAS event – The IFRS 17 revolution of (Re)Insurance Industry
Europe is moving forward with the endorsement process of IFRS 17 while some critical points have emerged in the application and the internal and the external financial communication.
The event aims to collect opinions from some experts in the field among academics, participants in the Local (OIC) and European (EFRAG) working groups with the contribution of financial analysts from EFFAS (The European Federation of Financial Analysts Socities).
The webinar aims to provide participants the main impacts from the user’ point of wiew starting from KPIs used to analyse insurance companies and applied in the framework of the new accounting standard. A Q&A session is also planned.
The Financial Analysts think that it is important that there is no more delay in applying IFRS 17 of January 1-2023. Otherwise, should this harm comparability between entities in the long run? What are the open questions that can have effect on users’ analysis?
Why the Financial Analysts belive that the annual cohorts’ approach in VFA life products does not improve the visibility for users? There are possible solutions to this problem?
16:00 Welcome and Opening
- Javier de Frutos, Chairman EFFAS Commission on Financial Reporting
16:05 Expected impacts on business and internal and external financial communication
- Andrea Schenone, SFAA Switzerland, EFFAS Commission on Financial Reporting
The re(evolution) of the (re)insurance industry
- Luca D’Onofrio, AIAF Italy, OIC Insurance Commission, EFRAG IAWG and User Panel member
The new KPIs to evaluate the (re)insurance business
16:20 Round table and Q&A
Moderators: Andrea Schenone / Luca D’Onofrio
- Andrea Belluci, AIAF, OIC Insurance Commission, User Panel EFRAG, Perugia University Prof.
- Christina Franz, Allianz, Prosjekt Manager KPIs and Steering under IFRS 9/17, Allianz SE
- Jean-Michel Pinton, France, E&Y, EFFRAG IAWG member
- Darrel Scott, Financial Professional, former IASB Board member
- Carsten Zielke, DVFA Germany, EFFAS Commission on Financial Reporting, EFFRAG IAWG and User Panel member
17:25 Closing Remarks
- Serge Pattyn (EFRAG Board member and Vice Chairman), EFFAS Commission on Financial Reporting