Course info

Insurance industry results analysis

Presenter: Derek Vice, Partner

We will provide an overview of the life and non-life insurance industry results for 2022, examining the key themes and drivers of performance. We will discuss what we see as the emerging trends for 2023, from discussions with our clients, colleagues locally and abroad, and across various sectors.

Economic impacts on the South African insurance industry

Presenter: Frank Blackmore, Lead Economist

In this session we provide an overview of the geopolitical environment currently impacting the global and local economy, and the possible impacts that this will have on the insurance industry. We will also consider the economic impact of the counter hyper-globalisation trend and how a collectivist-based culture can stifle the development of a strong democracy.

ESG

Presenter: Ben April, Associate Director

ESG ratings lend legitimacy to the companies and investors that claim to be helping advance the United Nations Sustainable Development Goals and the goal of limiting global warming. Regulators and politicians are focusing on the accuracy, transparency and potential for conflicts of interest with ESG ratings, they are also determined to regulate ESG ratings.

The Financial Sector Conduct Authority (FSCA) has indicated that it will regulate ESG ratings under the Conduct of Financial Institutions (COFI) Bill.

In this session we will:

• discuss developments in the regulation of ESG ratings;
• provide an understanding of what ESG ratings measure and demonstrate; and
• provide guidance on the questions that non-executive directors should be asking to better understand how ESG ratings have been determined and how this should be interpreted.

Operational resilience

Presenter: Michelle Dubois, Regulatory Centre of Excellence Lead

Many South African insurers are in the early phases of establishing and/or strengthening their operational resilience frameworks. The requirement for financial services organisations to rapidly identify and mitigate constantly evolving operational risks is a chance to create a strong framework that is appropriately tested for a range of stresses and is fully integrated into the organisation’s risk management procedure. This session will explore the threat landscape for the foreseeable future and unpack the need for robust resilience culture. Our discussion will consider local and global examples of disruption relevant to insurers, empowering non-executive directors to challenge management on the organisation’s operational resilience maturity.  

IFRS 17 update

Presenter: Lyndall Green, Associate Director

With IFRS 17 Insurance Contracts (IFRS 17) now effective for the majority of the industry, several large insurers have released half year-results and disclosures in an IFRS 17 live environment. In this session we will analyse these disclosures, prepared under IAS 34 Interim Reporting. We will focus on the various accounting policies and significant judgements that insurers have adopted globally, including key observations and trends. We will also cover topics and questions that non-executive directors should be asking of management as insurers move from transition into business-as-usual processes.

Your investment

Complimentary

Estimated CPD

4 hours