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IFRS Insurance Webcasts 16 January, 4 February and 5 March 2020 - Save the dates!

Published on 6 December 2019 | Francesco Nagari
Global IFRS Insurance Leader at Deloitte Touche Tohmatsu

At its October and November 2019 meetings, the IASB discussed the feedback from outreach and comment letters on the Exposure Draft (ED) Amendments to IFRS 17.

In the light of that feedback, at its November 2019 meeting, the IASB decided on its plan for redeliberating some of the matters raised by respondents on the ED and approved three list of topics to be deliberated during its next meetings:

(a) Amendments that the IASB Staff has identified for the IASB to confirm at a future meeting.

(b) Topics that the IASB Staff has identified for the IASB to consider further the feedback from respondents.

(c) Topics that the IASB Staff has identified as not needing further consideration.

On 11 December 2019, the IASB approved unanimously the following topics:

(a) proposed amendments to confirm without substantive redeliberation;

  • Scope exclusion for loans;
  • CSM attributable to investment services—coverage units for insurance contracts with DPF;
  • Presentation in the statement of financial position—portfolio instead of group level;
  • Applicability of the risk mitigation option—reinsurance contracts held;
  • Transition reliefs for business combinations;
  • Transition reliefs for the risk mitigation option—application from the transition date and the option to apply the FVA;

(b) Expected recovery of insurance acquisition cash flows; and

(c) Reinsurance contracts held–recovery of losses.

During January and February 2020 meetings, the IASB will vote on all the remaining topics. After that, they will proceed with the publication of the revised IFRS 17 text.

Please join us on 16 January, 4 February and 5 March 2020 when Francesco Nagari, Deloitte's Global IFRS Insurance Leader, will summarise the highlights and outcomes from the IASB's discussions and decisions. At the end of the webcasts, participants are invited to join in live Q&A sessions. Please contact Michelle Phong mphong@deloitte.com.hk to request joining details. The webcasts will be available live at the following times:

Asia Pacific: 1.00 p.m. HKT (UTC+8)

Europe, Middle East and Africa (EMEA): 9.00 a.m. GMT (UTC+0) | 5.00 p.m. HKT (UTC+8)

The Americas: 9.00 a.m. EST (UTC-5) | 2.00 p.m. GMT (UTC+0)

To subscribe to the IFRS Insurance Webcast series, please contact us.

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