EY Insurance Webcast
Implementing IFRS17: experiences from the field
Following on from our previous IFRS 17 webcast, which primarily focused on presentation and disclosure and the investor story we would like to invite you to join our panel of EY professionals as they explore the business, technology and operational implications of IFRS 17.
Over the last few months we have surveyed large and medium-sized multinational insurers to understand their current progress in preparing for IFRS 17 and the expected implementation cost and operational impacts on their business. Our webcast panelists will discuss highlights from this global survey and will also cover:
- The key business and operational implications of IFRS 17 based on lessons learned from recent engagements.
- The impact of IFRS 17 on financial reporting data, systems and processes
- Available options to upgrade current or build new systems to meet the new reporting requirements
Martyn van Wensveen
Ernst & Young Advisory Services Sdn. Bhd.
Martyn van Wensveen is a Partner in EY member firms Financial Services Advisory, focusing primarily on insurance clients. He is currently based in Malaysia and acting as the IFRS17 Transformation Leader for the APAC region.
Martyn has more than 30 years of global hands-on experience in leading complex finance risk & regulatory transformation programs, including IFRS conversions, regulatory capital initiatives (Solvency II), Finance MI systems, Lean Finance and Fast Close solutions, Finance Shared Services implementations, Finance Target Operating Model/organizational design and ERP/EPM system implementations.
QBE Insurance Group
Anne has been involved in the general insurance industry for almost 30 years including time with both audit firms and in industry.
Originally UK based, Anne has worked for QBE Insurance Group for over 20 years in a number of roles in financial accounting and reporting and finance policy. QBE is a global general insurer and reinsurer with operations in 36 countries, many of which will be impacted by IFRS 17.
Anne’s career has involved the application of AASB 1023, Australia’s general insurance standard, since its application in 1991 and the transition to IFRS reporting in Australia in 2005. AASB 1023 incorporates many of the same principles as IFRS 17.
QBE was involved in the field testing of IFRS 17 in 2010 and 2013 and Anne has been proactive in the Australian insurance industry working with both accountants and actuaries on the interpretation of IFRS 17 up to and since it’s issue.
Anne is a member of the IASB’s Transition Resource Group and Chair of the Australian Transition Resource Group set up to facilitate sharing Australian insurance industry views on IFRS 17.
Kevin Griffith leads the Ernst & Young LLP (UK) Insurance Financial Accounting Advisory group in the UK which focuses on financial and regulatory reporting in the insurance industry. He has extensive insurance industry and accounting advisory experience in Europe and South Africa, and heads up the EY Pillar 3 initiative in the UK.
Kevin has worked with several large insurance companies to understand the financial and business impact of the IFRS new accounting standard (Phase II). This has included assistance with field testing, calculation of financial impacts, writing of comment letters and the development of implementation plans. He particularly focuses on the alignment between preparations for IFRS Phase II and Solvency II reporting for European-based insurance groups.
Kevin is a Chartered Accountant (South Africa), and holds MCom (Accounting) from the University of Cape Town.