IFRS 17

Nuanced, comprehensive—and challenging

The new IFRS standard for insurance contracts promises to have a transformative effect on insurers' financial reporting.

IFRS 17

Navigating choices

Integrated expertise required

IFRS 17 is expected to raise a number of practical challenges for insurance companies. It is an accounting standard, but implementation will require a multi-disciplinary program with involvement from accounting, risk management, and actuarial teams.

video

The choices insurers face when implementing IFRS 17

Milliman consultant Thomas Bulpitt talks about the choices insurers make when implementing IFRS 17 and how insurers should handle risk adjustment.

This video was produced by InsuranceERM

Article

IFRS 17 preparedness: 2018 survey feedback

Milliman conducted a survey to measure the preparedness for IFRS 17 among insurers. The survey had 71 questions, and Milliman received responses from more than 115 companies around the world.

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Financial modelling & industrialisation

Integrate

The business challenges of implementing IFRS 17are top of mind for many in the industry, including Milliman. With Integrate, we've built a powerful, comprehensive ecosystem that allows you to focus on your business, not your IT.

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Report

IFRS 17 benchmarking: FY 2023

For the first time, European-listed insurance firms have published their annual reports for the 2023 fiscal year, incorporating comprehensive information under International Financial Reporting Standard 17 (IFRS 17).

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Briefing note

Process improvements & efficiencies: Getting more with less

In the rapidly evolving insurance industry, process improvements have become a critical aspect of maintaining competitiveness, reducing costs, and reducing operational risk.

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White paper