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IFRS 17: The Variable Fee Approach – Basics and Challenges

The IASB issued 2017 the new comprehensive insurance accounting standard IFRS 17, with amendments issued in 2020. In addition to its general model, IFRS 17 introduces a modified approach, usually referred to as Variable Fee Approach (VFA), for a specific class of participating insurance contracts. Both the identification of such contracts and the application of […]

EAA Web Session: IFRS 17: The Variable Fee Approach – Basics and Challenges

Starting from the revenue recognition concepts of fee-based services, we will discuss the qualification criteria of IFRS 17 for the VFA. Basis are certain contractual features, including the identification of the underlying items belonging to the contract. Further conditions need to be met to qualify insurer’s share in the surplus as (variable) fee. Other contractual […]

AVÖ-Generalversammlung

Talentgarden Liechtensteinstraße 111/115, Wien, Wien, Österreich

Die AVÖ lädt alle Mitglieder herzlich zur Generalversammlung 2023 ein! Fachvorträge:                  11:00 – 15:30 Uhr Generalversammlung:   16:00 – 18:00 Uhr Details finden Sie im Mitgliederbereich.

Assets and Liabilities Management (Part 1: Introduction)

For an insurance company, ensuring the proper coordination between assets and liabilities in order to achieve targeted financial objectives is of paramount interest. A strategy used to reach such objectives is "asset and liability management" (ALM in short). ALM can therefore be viewed as any ongoing process that defines, implements, and monitors financial strategies to manage […]

Assets and Liabilities Management (Part 1: Introduction)

For an insurance company, ensuring the proper coordination between assets and liabilities in order to achieve targeted financial objectives is of paramount interest. A strategy used to reach such objectives is "asset and liability management" (ALM in short). ALM can therefore be viewed as any ongoing process that defines, implements, and monitors financial strategies to […]

ESG im Versicherungskontext

Nachhaltigkeit: An diesem Thema kommt niemand mehr vorbei. Die EU hat sich zum Ziel gesetzt, bis 2050 klimaneutral zu sein. Um diesen „Green Deal” umzusetzen, wurden auch für Versicherer umfangreiche Gesetzespakete auf den Weg gebracht. Diese verlangen eine adäquate Berücksichtigung des Klimawandels unter Solvency II und in „grünen” Versicherungsprodukten. Dieses Fachseminar richtet sich insbesondere an […]

EAA Web Session: Climate Day 4.0

The debate on climate change has rapidly evolved in recent years. It is no longer on whether the evidence of human impact on climate change is real, but on whether key mitigating strategies being adopted are sufficient.   For insurance industry, climate change manifests itself through a variety of risks on the asset and liability […]

Mandatory Sustainability Reporting for Insurers – Actuarial Roles

Up to 2022 additional financial reporting on sustainability has been done on a voluntary basis by insurance companies. The reporting companies, usually larger groups, regularly involve actuaries in the corresponding preparation of information. Early in 2022 relevant institutions have started to prepare concrete financial reporting requirements at European level, which will become mandatory for insurance […]

IFRS 17: Investment Components and Other Non-Service Payments

The IASB issued 2017 the new comprehensive insurance accounting standard IFRS 17, with amendments issued in 2020. In line with IFRS 9, IFRS 17 does not permit to present receipts and repayments of deposits, in IFRS 17 referred to as investment components, in P&L. In general, all payments which do not represent the provision of […]

EAA Web Session: IFRS 17: Investment Components and Other Non-Service Payments

The needed identification of cash flows not related to services introduces new considerations in the accounting process. Those will be discussed and approaches to achieve an adequate reflection in presentation. That does not only apply to contracts with savings elements, as in life insurance. As well non-life insurance contracts and reinsurance contracts often contain investment […]

Price Walking, Demand Modeling & Price Elasticity

Price walking, demand modeling and price elasticity between theory, regulation and practice In recent years, a lot of progress has been made in predictive modeling in theory and practice. This leads in particular to stronger technical models in pricing, but related issues such as demand modeling are also receiving more and more attention. First and […]

EAA Web Session: Price Walking, Demand Modeling & Price Elasticity

Price walking, demand modeling and price elasticity between theory, regulation and practice   In recent years, a lot of progress has been made in predictive modeling in theory and practice. This leads in particular to stronger technical models in pricing, but related issues such as demand modeling are also receiving more and more attention.   […]

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