Pakistan Society of Actuaries

IFRS 17 - Insurance Contracts

In May 2017, IASB issued the new Insurance standard, IFRS 17 Insurance Contracts, with effective date of 01 January 2021. The new insurance standard will harmonise the method of measurement, presentation and disclosure thereby bringing consistency and comparability across the global insurance industry. Further, it will make the business model more visible to the users of the financial statements. IFRS 17 is bringing a change of the magnitude that implementation of Solvency II brought in Europe. In Pakistan, PSoA along with ICAP’s Accounting Standards Board has proactively initiated the deliberations and development of implementation strategy for the adoption and implementation of IFRS 17. 

The Pakistan Society of Actuaries (PSoA) is organising a seminar on “IFRS 17 – Insurance Contracts” in collaboration with Southern Regional Committee (SRC) of ICAP on February 28, 2018 at the Movenpick Hotel. The timing of the seminar will be from 9:00 am – 5:00 pm (registration at 8:45 am).

The seminar will include a wide range of speakers including Mr. Nayyar Hussain, Director Insurance, Securities and Exchange Commission of Pakistan (SECP) (also a panellist), Mr. Abdul Moid Ahmed Khan, Senior Manager and Consulting Actuary, SIR Consultants, Mr. Usama Dangra, Manager, SIR Consultants, Mr. Omer Morshed, Chair IFRS 17 Working Group and CEO, Sidat Hyder Morshed Associates (also a panellist), Mr. Arslan Khalid, Partner, EY Ford Rhodes, Mr. Mohammed Ali Ahmed, Chief Strategy Officer & Executive Director, EFU Life Assurance Ltd., Ms. Hena Sadiq, Partner, Deloitte Yousuf Adil, Mr. Ali Qureshi, Head of Actuarial Services Department PSOA Secretary, Mr. Jabran Noor, Director, PKF. 

A panel discussion will take place in which Mr. Farrukh Rehman, Chairman, Accounting Standards Board, ICAP act as the panellist in addition to the above three marked. Mr. Saeed Zafar, Director & Consulting Actuary, SIR Consultants will be the moderator. 

The seminar brochure can be downloaded by clicking on the following link