This half day workshop assumes the concepts from the first workshop, fundamentals of IFRS17 are understood. Participants are assumed to have a working knowledge of IFRS17 but non-actuaries are welcome and should be able to follow along. Concepts will be shown through hands on working through examples and issues.
By the end of the workshop participants will have created spreadsheets with working IFRS17 concepts. This is meant for participants in the life insurance field
As this is a hands on workshop, participants will be required to bring a laptop in order to participate in the exercises.
8:45am – REGISTRATION
Introduction and Overview of IFRS17
How it affects the local insurance industry
Statutory reserving vs. IFRS17
Challenges of using statutory PRAD as risk margin
Statutory surplus vs. IFRS17 profit
Using CSM to your advantage:- feel the pain now or later?
10:30am – COFFEE BREAK
IFRS17 on Life Insurance
A review of key products sold in the past and existing products that would need to be considered. A look at the expected impact on insurer’s revenue and profits at transition.
Hands on Session: Participating Plans
Regular premium asset share style par endowment product: Participants will put together fulfillment cash flow and CSM for the plan. This will be a facilitated session
Hands on Session: Unit Linked
Participants will put together fulfillment cash flows and CSM for a representative unit linked plan. This will be a facilitated session
Implementation issues and game plan
12:30pm – LUNCH BREAK & END OF WORKSHOP
Early Bird Rate: MYR 945 (valid until 5 April 2018)
Normal Rate: MYR 1,745
(All rates stated are not inclusive of GST)
Registration Closing Date: 16 April 2018
Zainal Kassim, FIA
Actuary and Senior Partner, Actuarial Partners Consulting
Zainal is a Fellow of the Institute of Actuaries, UK. He has extensive experience spanning over 30 years covering the full spectrum of actuarial services including takaful, conventional life and general insurance, pensions and investment.
He has had experience in a number of countries including Malaysia, Indonesia, Thailand, Singapore, Brunei, Taiwan and countries in the Middle East.
He represents the Malaysian Accounting Board in the IAS 19 working commitee at the International Accounting Standard Board in London.
He has presented on pension, social security and takaful in many conferences locally and overseas and has contributed many articles in journals and books on issues relating to pensions and takaful.
Hassan Scott Odierno, FSA
Actuary and Partner, Actuarial Partners Consulting
Hassan Scott Odierno is an American who has been a partner with Actuarial Partners Consulting in Malaysia and involved in insurance consulting and Risk Based Capital (RBC) since 1996.
His role as appointed actuary to insurers in countries such as Malaysia, Sri Lanka, Kenya, Brunei and Mauritius has allowed him to understand the challenges of taking RBC regulations from the developed world.
He is a co-author of the World Bank book Takaful and Mutual Insurance, co-author of the book Essential Guide to Takaful and a contributing author to the books Actuaries in Microinsurance and Health Insurance in Asia. He is also the external advisor to two universities in Malaysia to their risk management and actuarial science programs.
Hassan is a Fellow of the Society of Actuaries, and has a Bachelor of Science degree with high distinction in Mathematics from Worcester Polytechnic Institute in the USA.
Joanne Law, FIA
Actuary and Principal, Actuarial Partners Consulting
Joanne graduated from the University of Melbourne, Australia in 2003 with a Bachelor of Commerce Degree (Actuarial Science). She is a Fellow of the Institute of Actuaries in the United Kingdom and has close to 10 years of experience in consultancy and insurance.
Joanne has significant actuarial experience on product design, pricing and valuation for several conventional and takaful companies. She was involved in a wide range of actuarial consulting works such as statutory valuations, FCR, Embedded Value, mergers and acquisitions, ICAAP and product pricing works.
Joanne previously worked in the U.K. where she was the Solvency II Actuary in Friends Life and was involved in developing the Solvency Capital Requirement (SCR) model for the company.
She also worked for Deloitte UK for 3 years, where she worked on various assignments such as a large scale Finance Transformation Programme for Aviva UK, actuarial review works, unit pricing calculations, mergers and acquisitions, Market Consistent Embedded Value, Realistic Balance Sheet reporting, Individual Capital Assessments and various aspect of Solvency II work.
Led by Experienced Practitioner with 30 Years Experience
Practical & Relevant
Hands-on Interactive Exercises
Networking Opportunity with Fellow Professionals
Who Should Attend
Middle to Senior Level Actuarial Executives