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IFRS 17

Nuanced, comprehensive—and challenging

The new IFRS standard for insurance contracts promises to have a transformative effect on insurers' financial reporting.

Navigating choices

Integrated expertise required

IFRS 17 is expected to raise a number of practical challenges for insurance companies. It is an accounting standard, but implementation will require a multi-disciplinary program with involvement from accounting, risk management, and actuarial teams.

video

The choices insurers face when implementing IFRS 17

Milliman consultant Thomas Bulpitt talks about the choices insurers make when implementing IFRS 17 and how insurers should handle risk adjustment.

This video was produced by InsuranceERM

Article

IFRS 17 preparedness: 2018 survey feedback

Milliman conducted a survey to measure the preparedness for IFRS 17 among insurers. The survey had 71 questions, and Milliman received responses from more than 115 companies around the world.

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Financial modelling & industrialisation

Integrate

The business challenges of implementing IFRS 17are top of mind for many in the industry, including Milliman. With Integrate, we've built a powerful, comprehensive ecosystem that allows you to focus on your business, not your IT.

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Insight

White paper

Twelve lessons learned: IFRS 17 in Spanish and Portuguese markets

Milliman experts explore the significant impact of IFRS 17 on insurance companies' financial statements. This document highlights key methodological choices and their implications, based on our extensive experience with clients in Spain and Portugal.

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Report

IFRS 17 benchmarking: FY 2023

This analysis focuses specifically on evaluating the performance or value creation among 23 insurance companies.

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Briefing note

Process improvements & efficiencies: Getting more with less

In the rapidly evolving insurance industry, process improvements have become a critical aspect of maintaining competitiveness, reducing costs, and reducing operational risk.

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White paper

Impact of rising interest rates globally: A blessing or a curse for the solvency position?

With rising rates and high inflation, insurers worldwide need robust frameworks and nimbleness in the once slow moving and stable world of life insurance.

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Milliman IFRS 17 Readiness Assessment Tool

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Milliman Mind IFRS17 module

Milliman Mind is a flexible and easy-to-use web-based platform that offers you a cost-effective IFRS 17 calculation tool.

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Milliman Economic Scenario Generator

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