Skip to main content
IFRS 17

Nuanced, comprehensive—and challenging

The new IFRS standard for insurance contracts promises to have a transformative effect on insurers' financial reporting.

Navigating choices

Integrated expertise required

IFRS 17 is expected to raise a number of practical challenges for insurance companies. It is an accounting standard, but implementation will require a multi-disciplinary program with involvement from accounting, risk management, and actuarial teams.

video

The choices insurers face when implementing IFRS 17

Milliman consultant Thomas Bulpitt talks about the choices insurers make when implementing IFRS 17 and how insurers should handle risk adjustment.

This video was produced by InsuranceERM

Article

IFRS 17 preparedness: 2018 survey feedback

Milliman conducted a survey to measure the preparedness for IFRS 17 among insurers. The survey had 71 questions, and Milliman received responses from more than 115 companies around the world.

Download PDFDownload
Financial modelling & industrialisation

Integrate

The business challenges of implementing IFRS 17are top of mind for many in the industry, including Milliman. With Integrate, we've built a powerful, comprehensive ecosystem that allows you to focus on your business, not your IT.

Learn moreNavigation Arrow
Report

IFRS 17 benchmarking: FY 2023

This analysis focuses specifically on evaluating the performance or value creation among 23 insurance companies.

Read the reportNavigation Arrow
Briefing note

Process improvements & efficiencies: Getting more with less

In the rapidly evolving insurance industry, process improvements have become a critical aspect of maintaining competitiveness, reducing costs, and reducing operational risk.

Read the briefing noteNavigation Arrow
White paper

Impact of rising interest rates globally: A blessing or a curse for the solvency position?

With rising rates and high inflation, insurers worldwide need robust frameworks and nimbleness in the once slow moving and stable world of life insurance.

Read the articleNavigation Arrow
White paper

How might IFRS 17 change European insurance M&A?

While we don’t expect IFRS 17 to fundamentally change insurance mergers and acquisitions in the short term, European insurers will likely increasingly focus on results over time.

Read the articleNavigation Arrow
Products

Related Milliman products

IFRS readiness and compliance

Milliman IFRS 17 Readiness Assessment Tool

Monitor and assess IFRS 17 readiness and compliance, and plan remaining tasks effectively.

Learn moreNavigation Arrow
Financial modelling & industrialisation

Integrate

Automate and accelerate actuarial modelling and reporting with a powerful, cloud-based solution.

Learn moreNavigation Arrow
Financial Modeling Platform

Milliman Mind IFRS17 module

Milliman Mind is a flexible and easy-to-use web-based platform that offers you a cost-effective IFRS 17 calculation tool.

Learn moreNavigation Arrow
Economic Scenarios Generation

Milliman Economic Scenario Generator

The Milliman Economic Scenario Generator is a cloud-native economic scenarios generator that provides advanced modelling capabilities for both risk-neutral and real-world applications. The Milliman Economic Scenario Generator delivers secured regulatory compliance as well as production efficiency through its reactive web interface and integration-ready API.

Learn moreNavigation Arrow
Services

Related Milliman service

We’re here to help

Ask the tough questions. We’re ready for them.