IFRS17 Webinar 3 - Mechanical Applications

IFRS17 Webinar 3 - Mechanical Applications

This is the third webinar in the IFRS 17 webinar series and is focused on the mechanical applications behind some of the concepts that were introduced in the previous webinars. Where the previous webinars outlined IFRS 17 levels of aggregation and key IFRS 17 terms, this one examines the mathematics behind the measurement of IFRS 17 liabilities within a given group. Questions aimed to be addressed in this session include:

  • How do the Premium Allocation Approach (PAA) and the General Measurement Model (GMM) differ in principle?
  • How is the contractual service margin (CSM) calculated?
  • How can we determine the fulfilment cash flow (FCF) components?
  • How can we calculate the liability for remaining coverage (LfRC) and the liability for incurred claims (LfIC) under the PAA and the GMM?
  • Under what scenarios might the LfRC differ between the PAA and GMM?
  • Is your product eligible to be measured under the PAA?

This webinar is expected to be more technical than the previous webinars and will contain some worked numerical examples. A base level of understanding of IFRS 17 is recommended when attending this webinar.

The webinar is free for all members (remember to log in before booking) - $20.00 for non members.

About our Speaker

Owen is the founder and managing director of Real Value Consulting, a consulting company that strives to add only real value to clients. He currently specialises in the interpretation and application of IFRS 17, with a wealth of IFRS 17 specific knowledge gained through time spent deep within the Standard paragraphs and discussing interpretations throughout industry groups. Owen has built a number of IFRS 17 PAA eligibility models from scratch which not only projects the IFRS 17 liabilities, but also the financial accounts. He has assisted companies such as QBE, Westpac, Deloitte, AMP and Hannover Re in their IFRS 17 implementation journey. Owen has a deep passion in educating and strives to help people really understand the what, why and how of what they are doing. He has been teaching at Macquarie University in the fields of Actuarial Studies, Finance and Statistics over the last 14+ years and is also the founder of the secondary tuition centre Real Value Tuition



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