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Performance Steering & IFRS

We enable our clients to master the new IFRS standards, to build and enhance their tools and processes for closing and financial forecasting. We also help them foster a normative culture to better steer financial results and better communicate within this new environment.

The introduction of IFRS 17 in 2023 will lead to a major change in the steering of non-life insurance activity, in particular the introduction of two new models of valuation for insurance liabilities. Companies under this regime will need to go through numerous stages ahead of the implementation deadline in order to be IFRS 17 ready.

We assist our insurance clients, software development partners, asset managers, etc with their IFRS 17 projects:

  • Understanding the standard and its stakes / opportunities: initial product-oriented training, periodical interpretation of changes in the standard, sharing market experience, fostering a change management culture within the company.
  • Implementation of the standard: assistance in the entire project workstream (steering, actuarial and accounting compliance, data quality, external tools or inhouse development for cash-flows projection and calculation of IFRS 17 metrics, transition, …) and support on specific topics (contract segmentation, choice and justification of retained approach between PAA and CSM, P&L steering under IFRS 17, …)
  • IFRS 17 production support: defining and setting up guidelines (potentially under a multi-standard view), definition of new internal controls (processes and tools), strengthening teams in their pre-production exercises, analysing results from production exercises