Insurance company accounting intermediate

Course

Inhouse

Price on request

Description

  • Type

    Course

  • Methodology

    Inhouse

  • Class hours

    1h

This course looks at: Traditional accounting GAAPs for insurers. Impact of IFRS on insurance accounting. Future development: IFRS 4 - Phase II: insurance contracts

About this course

None

Questions & Answers

Add your question

Our advisors and other users will be able to reply to you

Who would you like to address this question to?

Fill in your details to get a reply

We will only publish your name and question

Reviews

Course programme

This course looks at:
  • Traditional accounting GAAPs for insurers
  • Impact of IFRS on insurance accounting
  • Future development: IFRS 4 - Phase II: insurance contracts
Traditional accounting GAAPs for insurers
  • Overview of the life and non-life insurance business
  • Insurers'' balance sheet and profit and loss
  • Non life: unearned premium reserves, reserves for unexpired risks and claims reserves
  • Life technical reserves, reserves for unallocated bonuses, and deferred acquisition costs
  • European 1991 directive
  • Problems with traditional accounting: lack of consistency and transparency
Impact of IFRS on insurance accounting
  • IAS 39 & IFRS 7
  • Marking to market insurance investments: ARFS and at fair value through P&L
  • Accounting for derivatives and hedge accounting overview
  • Discussion of insurers'' exposure to credit market squeeze
  • IFRS 4 - Phase I
  • Defining insurance contracts
  • Shadow accounting of insurance liabilities
Future development: IFRS 4 - Phase II: insurance contracts
  • Project status and review of Discussion Paper
  • Measuring insurance liabilities based on (1) probability weighted expected cash flows, (2) current discount rates, (3) risk margin
  • Expected industry reaction

Insurance company accounting intermediate

Price on request