An Intensive 5-day Training Course
IFRS 17 Insurance Contracts
Principles, Measurement and Reporting
CLASSROOM DATES
INTRODUCTION
The IFRS 17 Insurance Contracts Course provides finance, actuarial, audit, risk, and insurance professionals with a comprehensive understanding of the international accounting standard governing insurance contracts. IFRS 17 represents one of the most significant changes to insurance financial reporting, introducing consistent principles for measuring, presenting, and disclosing insurance contracts across global markets.
This highly participative IFRS 17 Insurance Contracts Course explains the standard from both conceptual and practical implementation perspectives. Participants will develop a clear understanding of the General Measurement Model (GMM), Premium Allocation Approach (PAA), and Variable Fee Approach (VFA), while learning how fulfilment cash flows, contractual service margin (CSM), discount rates, and risk adjustments influence financial performance. Through practical examples, case studies, and technical exercises, delegates will explore presentation, disclosure, transition methods, implementation governance, system requirements, and reporting controls.
This IFRS 17 Insurance Contracts Course will highlight:
- IFRS 17 measurement models and accounting principles
- Contractual Service Margin and fulfilment cash flows
- Insurance revenue, presentation, and disclosure requirements
- Reinsurance accounting and transition approaches
- Implementation governance, systems, and reporting controls
KEY SKILLS YOU WILL GAIN
After completing this training course, participants will be able to demonstrate the following skills and competencies:
- Measurement – Apply IFRS 17 measurement models to insurance contract accounting.
- Reporting – Prepare and interpret IFRS 17 financial statements and disclosures.
- Analysis – Evaluate contractual service margin, risk adjustments, and financial impacts.
- Governance – Strengthen reporting controls and implementation governance frameworks.
- Compliance – Support consistent application of IFRS 17 regulatory requirements.
TRAINING OBJECTIVES
By attending this IFRS 17 Insurance Contracts Course, participants will be able to:
- Understand the objectives, scope, terminology, and accounting architecture of IFRS 17.
- Apply the General Measurement Model, Premium Allocation Approach, and Variable Fee Approach appropriately.
- Measure insurance contract assets and liabilities using fulfilment cash flows and contractual service margin principles.
- Evaluate the impact of discount rates, risk adjustments, and actuarial assumptions on financial reporting.
- Prepare insurance revenue, insurance service results, and finance income or expense under IFRS 17.
- Interpret disclosure requirements and reporting obligations for external financial statements.
- Assess accounting treatments for reinsurance contracts, investment components, and complex insurance products.
- Compare transition approaches, including full retrospective, modified retrospective, and fair value methods.
- Strengthen governance, internal controls, and reporting processes supporting IFRS 17 implementation.
WHO SHOULD ATTEND?
This IFRS 17 Insurance Contracts Course is suitable for:
- Finance Managers and Financial Reporting Professionals within insurance organisations.
- Financial Controllers responsible for IFRS financial statements.
- Actuarial Professionals involved in valuation and insurance liabilities.
- Risk Management Professionals supporting insurance governance.
- Internal and External Auditors reviewing IFRS 17 compliance.
- Regulatory and Supervisory Professionals overseeing insurance reporting.
- Compliance Officers responsible for accounting governance.
- Banking, investment, and corporate professionals analysing insurance company financial performance.
TRAINING METHODOLOGY
The IFRS 17 Insurance Contracts Course combines expert-led technical presentations with practical workshops, accounting illustrations, group discussions, numerical exercises, case studies, and scenario-based learning. Each concept is introduced progressively before being reinforced through practical applications that reflect the reporting and implementation challenges faced by insurance organisations.
Practical exercises covering contract classification, fulfilment cash flow measurement, contractual service margin calculations, transition approaches, and reporting controls enable delegates to apply IFRS 17 principles with confidence. Throughout the training course, participants are encouraged to relate the learning directly to their organisational reporting processes, systems, actuarial models, and governance frameworks, ensuring immediate workplace relevance and practical application.
TRAINING SUMMARY
The IFRS 17 Insurance Contracts Course provides a complete understanding of the accounting, measurement, reporting, disclosure, and implementation requirements introduced by IFRS 17. Participants develop the knowledge required to interpret the standard accurately while understanding how it transforms insurance accounting, financial reporting, governance, and operational processes across insurance organisations.
The training course explores every stage of the IFRS 17 reporting lifecycle, including contract recognition, fulfilment cash flows, contractual service margin, measurement models, insurance revenue, reinsurance accounting, transition methodologies, disclosures, systems integration, governance, and implementation planning. Practical examples and technical exercises ensure participants understand both the accounting theory and its application within real reporting environments.
TRAINING OUTLINE
Day 1 : IFRS 17 Foundation, Scope and Contract Boundaries
- Objective of IFRS 17 and comparison with the former IFRS 4 model.
- Definition of insurance contracts, significant insurance risk and embedded components.
- Level of aggregation: portfolios, groups, annual cohorts and onerous contracts.
- Contract boundary, coverage period and recognition of a group of contracts.
- Case discussion: identifying IFRS 17 contracts and separating non-insurance components.
Day 2 : Measurement Building Blocks and the General Measurement Model
- Fulfilment cash flows: estimates of future cash inflows, outflows and acquisition cash flows.
- Discount rates: current market-consistent rates, financial risks and liquidity characteristics.
- Risk adjustment for non-financial risk: purpose, techniques and disclosure implications.
- Contractual Service Margin at initial recognition and treatment of day-one gains and losses.
- Worked example: measuring a group of insurance contracts using the General Measurement Model.
Day 3 : Subsequent Measurement, Revenue and Financial Statement Presentation
- Subsequent measurement of liability for remaining coverage and liability for incurred claims.
- Release of Contractual Service Margin and recognition of insurance service result.
- Insurance revenue, insurance service expenses and treatment of investment components.
- Insurance finance income or expenses and the accounting policy choice for OCI presentation.
- Practical exercise: analysing profit emergence and explaining movements in IFRS 17 balances.
Day 4 : Special Measurement Approaches, Reinsurance and Complex Features
- Premium Allocation Approach: eligibility, mechanics and differences from the General Measurement Model.
- Variable Fee Approach for direct participating contracts and changes in the entity’s share of underlying items.
- Reinsurance contracts held: initial recognition, measurement, loss recovery component and subsequent accounting.
- Onerous groups, contract modifications, derecognition and portfolios with complex product features.
- Case study: selecting the appropriate measurement model for life, non-life and reinsurance arrangements.
Day 5 : Transition, Disclosure, Systems and Implementation Governance
- Transition approaches: full retrospective, modified retrospective and fair value approach.
- IFRS 17 disclosures: reconciliations, judgements, risk exposures, methods and inputs.
- Data, systems and process design: actuarial inputs, finance close, controls and audit evidence.
- Implementation governance: project roadmap, roles, documentation and stakeholder communication.
- Integrated workshop: IFRS 17 reporting pack, management briefing and action plan for implementation.
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ACCREDITATION
EuroMaTech is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
FAQ
The course explains the General Measurement Model (GMM), Premium Allocation Approach (PAA), and Variable Fee Approach (VFA), including when and how each model should be applied.
Yes. Participants learn how the Contractual Service Margin is established, measured, released over time, and how it influences insurance revenue and profitability.
Yes. The training explains fulfilment cash flows, discounting techniques, risk adjustments for non-financial risk, and their impact on insurance contract measurement.
Participants learn how IFRS 17 presents insurance revenue, insurance service expenses, insurance finance income or expenses, and the related disclosure requirements.
Yes. The course covers accounting for reinsurance contracts held, including initial recognition, measurement, loss recovery components, and subsequent accounting treatment.
Yes. The training explores governance, systems, data quality, actuarial inputs, reporting controls, audit evidence, and implementation project management.
Yes. It is also valuable for auditors, regulators, consultants, compliance professionals, risk managers, actuaries, and investment professionals analysing insurance companies.
The course helps organisations improve IFRS 17 implementation, strengthen reporting accuracy, enhance governance, improve collaboration between finance and actuarial teams, and ensure compliance with international financial reporting requirements.
