A large South African insurer had selected a software provider as the supplier for their IFRS 17 solution. A number of the provider’s components were already embedded as the modelling engine for their life insurance business, and their IFRS 17 solution seemed to be the best fit in terms of addressing the data and storage requirements of the new accounting standard.
11
Nov
Nov
Regulators recognise the risk posed by unmanaged end user computing (EUC) applications, such as spreadsheets. We discuss the challenges raised by complying with regulations such as VAIT, and how these can be resolved in collaboration with our EUC software partner, Apparity.
23
Oct
Oct
MBE publishes A Calculated Risk, a report summarising our analysis of the 2020 benchmarking exercise on insurers’ current thinking and actions regarding the IFRS 17 risk adjustment and confidence level.
18
Apr
Apr
A South African bancassurer approached us to perform an impact assessment of IFRS 17 for some of their life and short-term insurance products. We compared the calculation requirements and results of IFRS 4 and IFRS 17 under both the General Model and Premium Allocation approaches.
28
Feb
Feb
It’s been said that the greatest challenge posed by IFRS 17 is its data requirements. But is this really the case? Andries Beukes, MBE Partner considers why it might not be.
07
Jan
Jan
IFRS Assess is MBE Consulting’s cost-effective modelling and simulation tool that assists clients in understanding the impact of IFRS 17 on all areas of the business. Learn more here…
15
Nov
Nov
Andries Beukes and Pamela Hellig explain why a fair value loss component is improbable but not impossible under IFRS 17.