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IFRS 17
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Presenter: Lyndall Green, Associate Director
Analysing the first annual
reports
In
this session we will share our observations from our analysis of the
first annual reports of insurance companies, reported on for the
first time under an IFRS 17 Insurance Contracts (IFRS 17) basis of
accounting. In particular, we will share our insights on the following
areas of disclosures under IFRS 17:
- the equity impact of IFRS 17 on adoption;
- extent of significant judgements and estimates
disclosed and common themes emerging across the industry;
- analysis of accounting policy choices; and
- areas of refinement for future consideration.
We will also share with you questions you can ask of
management about refinements of key IFRS 17 decisions being made post
first year implementation of the standard.
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2024 insurance CEO outlook survey
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Presenter: Mark Danckwerts, Partner
Economic uncertainty may
finally be starting to recede, but boardroom uncertainty seems to be at
an all-time high across the insurance industry. And for good reason:
insurance CEOs are dealing with a complex set of pressures and challenges
- growth, digital transformation, talent and sustainability - that
require bold decisions and concrete action. Decisions made today will
help to shape the business well into the future.
However, despite economic
headwinds, insurance CEOs are confident that they will be able to grow
their business over the next three years - both in terms of earnings and
headcount. However, competition is growing, and organisations are pulling
several levers to drive the growth they require. CEOs are highly focused
on accelerating their digital transformation, delivering on their ESG
agenda and enhancing productivity. And at the same time, they recognize
the need to infuse the organization with new talent and to embrace new
technologies - Gen AI in particular - if they hope to achieve their
growth objectives.
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.
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Life and non-life insurance industry results
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Presenter: Hanyani Mabaso, Associate Director
We
will provide an overview of the life and non-life insurance industry results
for 2023, examining the key themes and drivers of performance. We will
discuss what we see as the emerging trends for 2024 and beyond, from
discussions with our clients, colleagues locally and abroad, and across
various sectors.
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Climate risk and cyber risk
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Presenter: Marius Botha, Partner
In this session we will be exploring two key
emerging themes that are high on the agenda of insurers:
- Climate risk: we will
explore global best practice guidelines for how climate risk is being
introduced into risk management frameworks for insurers, as well as how
insurers are incorporating climate scenarios and stress testing within
ORSA processes.
- Cyber risk: we
will discuss enterprise risk management for cyber risk for insurers and
where it fits into the broader IT governance framework. We will also
unpack related elements such as the nature of cyber risk, its
decomposition, the different types of cyberattacks prevalent in the
market, as well as examples of cyber risk mitigation that insurers can
explore.
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