AM Best will participate in the annual IFRS 17 conference; Panel discussions to explore insurer readiness
LONDON–(BUSINESS WIRE)–AM Best will participate in two roundtables at the fourth annual IFRS 17 conference, organized by InsuranceERM, which will be held virtually on March 31, 2022.
Tony Silverman, Director, Credit Rating Criteria, Research and Analytics, AM Best, will participate in the expert panel, which will focus on preparing insurers for IFRS 17, which comes into effect on January 1, 2023. discussion will include:
Key milestones insurers are expected to complete by the end of Q1 2022, from investor relations activities to initial financial statements.
An overview of the most common barriers faced by insurers in their implementation efforts and new insights gained.
The impact of COVID-19 on the industry’s ability to prepare for the shift in reporting.
Examination of changes in internal culture, from decompartmentalization to the merger of accounting and actuarial functions.
Why industry readiness still varies widely and why small businesses could hold an operational advantage.
Silverman will also participate in a panel discussion on creating new Key Performance Indicators (KPIs) which will discuss the status of insurers in understanding the emergence of earnings under IFRS 17, the viability of any proposed KPIs and their consequences internally and externally, industry alignment with data for KPIs and what all of this could mean for executive compensation.
Silverman has been with AM Best since 2013 and is responsible for generating, maintaining and implementing industry-leading, globally consistent credit scoring criteria. He is also the author of many commentaries related to IFRS 17, in addition to other matters relating to the entire insurance industry.
The virtual event begins at 9:00 a.m. BST, with Silverman’s two appearances taking place in succession right after the opening remarks. For more information about the event or to register, visit the official event page.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in more than 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
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