IFRS 17 SERVICES

WHAT IS IFRS 17?

IFRS 17 is the new accounting standard for insurance

contracts, with an e�ective date of January 2022. These

new rules lead to substantial changes in the emergence

of profit and financial disclosures. From new data

requirements and IT overhauls to substantial changes

to actuarial models and a complete redesign of financial

statements and disclosures, IFRS 17 has far reaching

implications in almost all areas of the financial

reporting process.

Oliver Wyman can help you navigate this new and evolving

landscape with technical expertise and subject matter

experts on the front lines of IFRS 17 development.

POLICY AND METHODOLOGY

DEVELOPMENT

• Discuss options and implications

• Draft or assist in writing

IFRS 17 policy papers

• Recommend

implementation options

ANALYTICAL

ASSESSMENT

• Assess impact of key

methodological choices

• Conduct quantitative

impact studies (QIS)

• Update existing actuarial model

• Set-up CSM engine

(actuarial component)

• Validate IFRS 17 models

ADDITIONAL IFRS 17 SERVICES

In addition to Oliver Wyman’s comprehensive

services, we can also assist with:

• Peer review of IFRS 17 methodology

• Executive education

• Internal education

• IFRS 17 implications to pricing process, ALM, and risk management

• Full retrospective valuation support

Oliver Wyman o�ers comprehensive IFRS 17 support, fully customizable to client needs. Our solution spans a number of key deliverables – our IFRS 17 experts are ready to assist regardless of where a company is in their IFRS 17 process.

STAFF AUGMENTATION

To enable our clients to drive IFRS 17 internally,

we can provide support with ongoing activities

such as:

• Product design and pricing

• Experience studies

• Reinsurance optimization

• Asset allocation analysis

AND VALIDATION

MODEL SET-UP

ROBERT BERENDSEN

FCIA, FSA, CERA, MAAA

LES REHBELI

FCIA, FSA, MAAA

AMAL RAJWANI

ACIA, FSA, CERA, MAAA

NA TA

FCIA, FSA, CERA, MAAA

OUR IFRS 17 EXPERTS

Our practice has experts on 10 di�erent IFRS 17 related committees and subgroups. Oliver Wyman is currently

working with multiple clients on IFRS 17 implementation, in both advisory and in-depth analytical roles. These

partners and principals spearhead the IFRS 17 development at Oliver Wyman:

For more information, please contact Les Rehbeli at les.rehbeli@oliverwyman.com

WHY OLIVER WYMAN?

AGENDA SETTING RESEARCH

Oliver Wyman is at the forefront of IFRS 17

advancement, being heavily involved in committees

developing IFRS 17 guidance for both the Canadian

Institute of Actuaries (CIA) and the International

Actuarial Association (IAA).

RIGOROUS METHODOLOGIES

Oliver Wyman provides practical solutions built

to meet the unique demands and economics of each

client. We focus on simplifying and streamlining

processes, and endeavour to leave our clients with

tools that can be leveraged for future needs.

SPECIALIZED EXPERTISE

Oliver Wyman is an Elite Tier partner with

Moody’s Analytics, which requires our consultants

to train and become certified on Moody’s AXIS

and RiskintegrityTM IFRS 17 platforms. This enables

us to o�er both comprehensive model support

and expertise in building the IFRS 17 model.

COLLABORATIVE STYLE

Oliver Wyman’s experience enables us to act as trusted

partners and advisors to our clients, able to take

a strategic view across the business. We are practiced

at collaborating with both internal client and external

teams, both within one work stream or along multiple.