AM Best to Participate in Panel Discussion at Annual IFRS 17 Conference in London

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FOR IMMEDIATE RELEASE

LONDON - MARCH 15, 2024 01:08 PM (EDT)
AM Best will participate in a panel discussion at the annual IFRS 17 Conference, hosted by InsuranceERM, to be held on 18 March 2024 at Grocers’ Hall in London.

Tony Silverman, director, credit rating criteria, research and analytics, AM Best, will join a panel discussion at 2:30 p.m. (GMT), titled, “Market Insight - How Have Analysts, Investors and External Stakeholders Responded to the First Year of Reporting Under IFRS 17?” The panel will focus on how the changes in the IFRS 17-era have impacted the insurance industry. Questions to be addressed in the session include these and others:

• Are investors and analysts getting the insights they need and expect from insurers?


• How well are insurers explaining the  complexities  in their results, including the financial impact of the contractual service margin (CSM), discounting and risk adjustment calculations?


• Are accounting policies in disclosures sufficiently granular and well explained to enable users to understand the approach taken for each material line of business?


• How are firms bridging between IFRS 17 and Solvency II reporting?


• Will IFRS 17 succeed in making insurance more comparable to other sectors?

Silverman has been with AM Best since 2013, and is responsible for the generation, maintenance and implementation of industry-leading and globally consistent credit rating criteria. He also has authored numerous Best’s Commentaries related to IFRS 17, in addition to other insurance industry-wide issues.

For more information about the InsuranceERM event, or to register, please go to the official event page.

AM Best recently announced that it is requesting comments from market participants in the insurance industry and other interested parties on the application of Best’s Credit Rating Methodology (BCRM) and related criteria procedures to IFRS 17-reporting companies through 27 March 2024. For more information, see the related press release or visit the methodology section of AM Best’s website.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.