MBE Consulting is pleased to publish our report, A Calculated Risk, following our industry-wide investigation into the IFRS 17 risk adjustment and confidence level.
During May and June 2020 our researchers approached insurers in the UK, Europe and South Africa for them to share their current thinking and actions regarding the IFRS 17 risk adjustment. We wanted to get a snapshot of where the insurance industry currently stands to enable individual organisations to benchmark their progress against their peers.
The enthusiasm with which the industry embraced this exercise validates our belief that the risk adjustment is, as yet, far from resolved for most insurers.
We received responses from organisations representing close to 60% of gross written premiums in the UK and South African insurance industries, demonstrating an evident willingness to collaborate for mutual benefit and the good of the industry as a whole.
‘A Calculated Risk’ summarises our analysis of the responses and presents a benchmark against which future progress can be assessed. We find an industry in which a balance of caution and pragmatism reflects the lack of clarity about the risk adjustment and its confidence level that still exists for many companies. With 2023 fast approaching, we hope to help bring greater certainty through this report and the application of our
Risk Analyser confidence level calculation tool.
MBE would like to thank all of the organisations that took part in the benchmarking exercise.
We hope you find this report interesting and would be pleased to discuss our findings with you. Please get in touch.
- A Calculated Risk - 23 October 2020
- Muller Beukes Edvardsen rebrands as MBE Consulting - 25 September 2019
- MBE welcomes Shaun Lawton as Director of MBE South Africa - 9 March 2018