IFRS 17 Insurance Contracts
Course Overview
IFR317 — IFRS 17 Insurance Contracts is an intensive professional development program designed to equip finance, actuarial, risk, and accounting professionals with a practical and strategic understanding of the requirements and implications of International Financial Reporting Standards (IFRS 17) for insurance businesses.
This course goes beyond theory — it blends regulatory interpretation with actuarial modeling, accounting mechanics, operational readiness, and strategic reporting considerations. By the end of the program, learners gain a deep working knowledge of how IFRS 17 reshapes the way insurers measure insurance liabilities, recognize profit, and communicate performance.
The course provides a structured, 12-module pathway that covers everything from the fundamentals of IFRS 17 to practical application, including measurement models, contract boundaries, risk adjustment, contractual service margin (CSM), transition methods, disclosures, and system design. Real-world case studies (both global and African) are embedded throughout to ensure applicability in local markets.
Learning Objectives
By the end of this course, learners will be able to:
- Understand the regulatory framework of IFRS 17 — including its purpose, scope, and key differences from IFRS 4 — and explain its strategic significance to insurers, regulators, and investors;
- Apply contract boundary and aggregation rules to group insurance contracts correctly and assess eligibility for different measurement models;
- Select and implement appropriate measurement models — General Measurement Model (GMM), Premium Allocation Approach (PAA), and Variable Fee Approach (VFA) — based on product characteristics and regulatory guidance;
- Calculate fulfilment cash flows, discount rates, and risk adjustments and understand their impact on insurance liabilities and profit emergence;
- Build and interpret CSM calculations to manage expected future profits and recognize revenue accurately over the coverage period;
- Analyze the presentation of results in financial statements under IFRS 17, including insurance revenue, service results, and insurance finance income or expense;
- Account for reinsurance held and issued, understanding asymmetries and their implications on profit and disclosures;
- Plan and execute transition strategies (full retrospective, modified retrospective, or fair value) and document elections effectively;
- Design data and system architectures that align with IFRS 17 reporting, integrating actuarial engines, sub-ledgers, and general ledger systems;
- Interpret and communicate IFRS 17 results to management, investors, and regulators using clear narratives, disclosures, and performance KPIs;
- Implement operational governance and controls to sustain compliance and reporting accuracy post-implementation; and
- Leverage IFRS 17 reporting insights to support business strategy, product design, and capital management.
