The Actuarial Academy of East Africa (AAEA) has introduced a new course on IFRS17 basics.
The Introduction to IFRS17 course will take place from April 3rd and will run for 8 weeks.
On 22nd March 2023, the Kenyan regulator, Insurance Regulatory Authority, effected Section 54 of Insurance Act that requires industry players to conform to IFRS17 reporting standards.
The IFRS17 superseded the IFRS4 insurance contracts and some of the guidelines to ensure harmonised approach to implementing it are:
- Level on aggregation
- Determination of discount rates
- Risk adjustment
- Transition date
- Monitoring of progress and
- Statutory reporting
The course will be offered free of charge and will cover the statutory demands on IFRS17, brief recap of IFRS 4 Liabilities, Discounting, Risk Adjustment, and CSM and Loss Component.
The course will be administered by Mary Ndaba. Mary is a Senior Actuarial Officer at East Africa Reinsurance Company Limited. She is an industrious and determined professional with a demonstrated history of success as an Actuary.
She is vastly skilled in technological, actuarial professional education, excellent analytical, critical thinking and problem solving skills, and her inherent capabilities to coach and impact knowledge to advance quality education and decent work and economic growth.
The course is open to all students and young professionals from all nationalities interested in IFRS17. Kindly share your interest through this link.
If you have any questions or seek more information, kindly reach out to: adminoffice@actuarialacademy.africa