Events

The IFRS 17 Journey in Asia

14 June 2022

About the event

The Actuaries Society of Malaysia is hosting a series of webinars in 2022. On 14 June 2022, Deloitte China Insurance partners Louis Lee and Ka-Hei Choi will share our industry leading insights on IFRS 17 implementation.

 

Deloitte's perspective: The IFRS 17 Journey in Asia

As 2023 draws near, most insurers are on the final stretch to have their IFRS17 implementation completed. In this presentation, we looked at how different insurers have gone about their IFRS17 roadmap over the past few years in Asia, which were the success stories, what were the lessons learnt, how challenges were overcome, and what are the key steps remaining. We also discussed the influence from IFRS17 to the future of transformation with our industry. We drew on experiences from different type of insurers: Life Insurance, General Insurance, Reinsurance, whilst also observing multi-national programs whereby insurers have subsidiaries throughout Asia.

The presentation covered the following:

  • early stages of IFRS17 program design back 3-4 years ago when the standards were still being finalized;
  • financial impact and business impact analyzes whereby the IFRS17 concepts were first introduced to senior management of insurers;
  • defining portfolios in the IFRS17 categories and requirements; before the data, modelling and assumptions setting were in place.
  • where most insurers are still working on, the testing, transition and parallel run phases;
  • how actuaries have been involved and interacting with accountants and data technology specialists in all parts of the journey.
     

Webinar details
Date: June 14, 2022 (Tuesday)
Time: 3:00 pm HKT / MYT
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Contact Us

Louis Lee

Louis Lee

Partner, Actuarial and Insurance Solutions

Louis Lee is a Partner in Deloitte’s Actuarial and Insurance Solution practice based in the Hong Kong office, where he leads the practice for the General and Health Insurance sector. He joined the fir... More

Ka Hei Choi

Ka Hei Choi

Partner, Actuarial and Insurance Solutions

Ka Hei is a Partner in the Life Insurance practice of Deloitte Actuarial based in Hong Kong.  He joined the firm in 2007 and has spent 5+ years working overseas covering the US, UK and European market... More

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