7 & 8 December 2020 | 9:00 a.m. – 13:00 p.m. | 7 CPD
7 & 8 December 2020 | 9:00 a.m. – 13:00 p.m. | 7 CPD
KPMG Academy offers a valuable all-around webinar on IFRS 17 insurance contracts and Solvency II, in an effort to keep its clients fully informed about the particular IFRS, as well as updated on other related regulatory issues. It is expected that the new standard will introduce a comprehensive new accounting model that will provide users of financial information a whole new perspective on the financial statements of the insurers. Furthermore, it will herald an end to the lack of comparability in the insurance sector and will increase transparency about the profitability of new and in-force businesses. The new standard will also offer users additional insight into the financial health of an insurer. It is certain that all insurers will see considerable impact on their reported numbers, one way or another. It is important to note that the implementation of the standard will require substantial effort.
By the end of the webinar, participants will be able to:
1. IFRS 17: Overview
2. IFRS 17: Scope and measurement model
3. IFRS 17: Other measurement models, contract modifications and reinsurance contracts presentation
4. IFRS 17 Insurance contracts: Disclosures, acquisitions and transition
5. Solvency II: Overview and latest updates
6. Solvency II: Differences and similarities with IFRS 17
This webinar is essential for the insurance sector’s CEOs, financial controllers, finance managers, finance directors, actuarial professionals, risk managers, accountants and auditors who wish to be informed in regards to the new IFRS standard and legislation. It is also beneficial for professionals in the insurance sector, who are involved in the financial statements preparation process and/or the provision of compliance services.
*The number of participants is restricted to 28.
Join the webinar (8:30 a.m. – 9:00 a.m.)*
Sessions (9:00 a.m. – 13:00 p.m. including two 15-min break between sessions)
1. IFRS 17 insurance contracts: Overview (1 hr)
2. IFRS 17 insurance contracts: Scope and general measurement model (1 hr & 30 min)
3. IFRS 17 insurance contracts: Other measurement models, contract modifications and reinsurance contracts presentation (1 hr & 45 min)
1. Insurance service result
1. Onerous contracts
4. IFRS 17 insurance contracts: Disclosures, acquisitions and transition (45 min)
1. Full retrospective application
2. Modified retrospective approach
3. Fair value approach
5. Solvency II (1 hr & 30 min)
6. Questions and answers (30 min)
*Note: Please join the meeting 30 minutes prior to the webinar’s start time (join at 8:30 a.m.), in order to make sure that you do not face any connection or other technical issues.
The programme has been approved by the HRDA. Enterprises participating with their employees who satisfy HRDA’s criteria, are entitled to subsidy. Please note that there are limited seats available therefore enrol in this webinar as soon as possible.
If you do not receive our confirmation e-mail regarding your registration, your participation cannot be guaranteed.
€305 + VAT. Net investment after subsidy from the HRDA of €119: €243,95 (including VAT) for all eligible participants*
*Last Date for 10% Early Bird Discount: 17/11/2020
For any queries, please contact Irini Avraam on +357 22 207 460 or at email@example.com.
CPD: This webinar may contribute to Continuing Professional Development requirements. Shortly after the webinar’s date, participants will receive electronically a certificate of attendance confirming the total number of training hours (7 CPD).
Board Member, IFRS 9 and IFRS 17 implementation leader, Audit, KPMG in Cyprus
Pangratios has been working with KPMG in Cyprus since 2003 and became a Board Member in 2017. He holds a BA in Accounting & Finance from Lancaster University and is an Associate member of the Institute of Chartered Accountants in England and Wales.
Pangratios possesses versatile industry experience from the financial services sector, consumer products, as well as more specialised sectors such as the airline transport industry, agriculture and food and beverages. In 2014, he was pivotal in the creation of the KPMG Enterprise and Startups team of KPMG in Cyprus, for which he is currently the team leader.
He is actively involved in the group which provides training and support within KPMG in Cyprus, as well as in the DPP (Accounting) of KPMG in Cyprus, which provides insights, consultation and training on financial reporting issues both internally and externally. He is the implementation leader and contact person on IFRS 17 and IFRS 9 matters of KPMG Cyprus IFRS Helpdesk team. Pangratios is currently the Chairman of the Institute of Certified Public Accountants of Cyprus’ Accounting Committee.
Senior Manager, Financial Risk Management, KPMG in Cyprus
Alexandros possesses 9 years of experience in the provision of Actuarial and Insurance services. He is responsible for the insurance clients of the Financial Risk Management Department at KPMG in Cyprus.
Alexandros has extensive experience in Solvency II, actuarial modelling, insurance business planning and pricing. In addition, he is involved in other non-insurance projects of the Financial Risk Management department, including banking and investment consulting.
Furthermore, Alexandros has obtained experience when he was working within the insurance industry in Cyprus. Prior to joining KPMG, he has been employed by Ethniki Insurance Cyprus, where he served as a Life and Non-Life Actuary for more than 4 years.
Alexandros has delivered training workshops on Solvency II, Risk Management and IFRS 17. He is a member of KPMG Cyprus IFRS 17 team and amongst his duties is the support of clients with gap analysis and implementations. He mainly contributes in actuarial advising, as well as the calculation of the insurance liabilities and risk adjustment.
Assistant Manager, Accounting Advisory Services, KPMG in Cyprus
Christos possesses 5 years of experience in the field of Audit and Accounting Advisory.
More specifically, he has extensive experience in the provision of accounting advisory services related to accounting changes and interpretation on IFRSs, the development of tailored solutions for Mutual Fund accounting and IFRS 9 for non-financials. In addition, Christos has been involved in special projects relevant to banking restructurings and securitisations.
Christos has provided audit services for Listed and other Public Interest Entities in the banking, insurance, mutual funds and technology industries.
Christos seeks to contribute to the financial world by disseminating the medium of exchange of information, which is applicable to the financial sector, i.e. the Accounting Language. Furthermore, he has a particular interest in the eSports industry and hyper-efficient, digital markets.
The programme has been approved by the HRDA. Enterprises participating with their employees who satisfy HRDA’s criteria, are entitled to subsidy.