KPMG Insurance Training

IFRS 17 insurance principles training

 This introductory session is aimed at assisting new entrants to the insurance industry and other staff in understanding the principles of IFRS 17 Insurance Contracts (IFRS 17).

 This course is also appropriate for chief financial officers, financial managers, finance and any other staff members or individuals involved in a financial accounting role who are inexperienced in IFRS 17. This course will also benefit those who would like a refresher on fundamental IFRS 17 accounting principles.

 Your topics for the day

 This introductory workshop will cover the following:

• the scope of the standard;
• building blocks of the general measurement model with simple examples covering contract boundaries, acquisition costs and coverage units;
• the simplified methodology allowed by the standard, the premium allocation approach, where we will also tackle a practical example;
• a summary of the modifications to the general measurement approach (variable fee approach and reinsurance contracts held); and
• presentation and disclosure requirements as required by IFRS 17.

Logistics

Your investment	R2,900 per delegate excluding VAT
Estimated CPD	7.5 hours

 

Attendance can also be logged to support your continual professional development (CPD) requirements.

 Click on this link for access to our full suite of 2025 insurance training courses on offer for the year.

Introductory insurance principles training

This course is aimed at finance, operational and other staff members involved in a financial accounting or operational role who are inexperienced in the insurance industry. The course will also benefit those who would like a refresher on insurance industry principles.  

This course will assist new entrants to the insurance industry and junior staff in understanding insurance principles for life and non-life insurance companies. This will include:

• providing an overview of the different products issued by insurance companies and the characteristics and risks associated with these products;
• what is insurance premiums and the factors that influence the calculation of insurance premium; and
• examples of life and non-life insurance products and the different channels through which insurance is sold.

We will also focus on the definition of an insurance contract in terms of IFRS 17: Insurance Contracts, and the importance of understanding how to interpret this definition. We will cover:

• understanding significant insurance risk;
• why the correct application of the definition of significant insurance risk is important from an accounting perspective; and
• the difference between an insurance and investment contract.

Please note that this course does not deal with the accounting implications of insurance contracts. The details of the related accounting transactions and journal entries will be covered in the following course:

• Introductory IFRS 17 training

Logistics

Your investment	R1,900 per delegate excluding VAT
Estimated CPD	4 hours

 

Attendance can also be logged to support your continual professional development (CPD) requirements.

Click on this link for access to our full suite of 2025 insurance training courses on offer for the year.

Solo and group SAM quantitative reporting training

This course is aimed at financial directors and managers, actuaries and finance team members who are involved in the preparation and review of SAM regulatory returns. The course will also benefit those who would like a refresher on the requirements to be applied in preparing the return.

The intention of this training is to work through the key statements based upon the available guidance and our experience from auditing and completing these returns.

Starting off with the solo SAM QRT:

• The training begins with the QRTs that are applicable to both life and non-life insurers, including the assets, own funds, SCR and MCR reporting templates.
• Next, we move on to the non-life and life technical provision templates.
• We provide insight into areas of uncertainty and areas where significant judgement is usually applied. We also discuss areas of the return that you, as a reviewer, can use to actively manage the business as well as to ensure that the results of the return appropriately reflect the nature of the business.
• We end off with a session on SAM reporting governance. We discuss best practice governance processes and procedures to assist your organisation in developing and sustaining an effective and efficient SAM reporting structure. In addition, we discuss the audit requirements for issuing both a review opinion on specific statements and an audit opinion on other statements.

Moving along to the group SAM QRT:

We will provide an overview of the key elements of the financial soundness standards for insurance groups and the manner in which these translate into the completion of the group QRTs. This includes scoping and methods for assessing insurance groups’ financial soundness, guidance on the completion of certain relevant statements of the group SAM QRT and the manner in which own funds and SCR are aggregated.

 Logistics

Your investment	R2,900 per delegate excluding VAT
Estimated CPD	7.5 hours

 

Attendance can also be logged to support your continual professional development (CPD) requirements.

Click on this link for access to our full suite of 2025 insurance training courses on offer for the year.

This training course covers the most recent insurance industry developments to assist you in your role as a non-executive director in the insurance industry.  Your topics for the day IFRS 17 update Presenter: Lyndall Green, Associate Director As the industry moves into its second year of IFRS 17 Insurance Contracts (IFRS 17) as an effective standard, more insurers have released both interim and year end IFRS 17 compliant disclosures to the market. In this session, we will analyse emerging trends from these disclosures, discuss judgemental items impacting the industry as a whole, and consider what the next steps are in the journey beyond transition and into a more settled business-as-usual environment. This will assist you in your role as a non-executive director in pin-pointing risks and understanding the financial reporting results relevant to the insurers with which you work. 2023 insurance CEO outlook survey Presenter: Mark Danckwerts, Partner In an unpredictable operating environment characterized by geopolitical tensions, high inflation and rising costs, CEOs continue to face an array of challenges and opportunities. With change becoming almost a constant, KPMG International surveyed 128 CEOs to gain deep insight into their views and perspectives on the industry and wider economic landscapes now and over the next three years. While the clear majority of insurance CEOs are confident of growth in the coming years, the numbers have declined compared to 2022. Strong and resilient leadership will be needed to help keep insurance firms moving progressively forward on the journey of change and transformation that they are on, especially with new developments like generative AI holding out so much potential to reimagine aspects of how the business is run. In this session we will share with you more detailed insights into what insurance CEOs have to say about the key trends impacting the industry in an ever-evolving market. Ten key regulatory challenges 2024 Presenter: Michelle Dubois, Senior Manager KPMG’s Africa Regulatory Centre of Excellence is delighted to share their ten key regulatory challenges for 2024. This year we observe how regulatory scrutiny continues to intensify. The operating environment faces unprecedented threats, highlighting vulnerabilities across the business environment. Is your organisation playing the best they can with the hand they have been dealt? In an ideal world, increased budget and raised priority for regulatory spend would go a long way to mitigating these risks, however the current environment requires insurers to be resilient and resourceful. Join us for an overview of what we believe are the key regulatory challenges for the insurance sector in 2024.   Logistics Estimated CPD 4 hours  Attendance can also be logged to support your continual professional development (CPD) requirements. Click on this link for access to our full suite of 2024 insurance training courses on offer for the year.