IFRS 17 Insurance Contracts Certification Training

This 8-hour online IFRS 17 course and certification program delivers a structured, in-depth and practical understanding of the measurement, presentation and implementation of insurance contracts under IFRS 17, with a strong focus on post-implementation realities and 2026-2027 regulatory expectations. Participants will gain clarity on the core principles and objectives of IFRS 17, key differences from IFRS 4 and current global implementation challenges.

The insurance course provides detailed coverage of all measurement models (GMM/BBA, PAA and VFA), including fulfilment cash flows, discounting, risk adjustment, contractual service margin (CSM) and treatment of experience variances. Learners will develop a solid grasp of contract boundaries, level of aggregation, onerous contracts, reinsurance accounting, OCI options and presentation and disclosure requirements, including reconciliation tables and sources of profit analysis. Practical insights are reinforced through illustrative examples, hands-on case studies and modelling exercises, reflecting real insurer practices and enforcement trends from recent financial statements.

By the end of the program, participants will be equipped with both technical IFRS 17 expertise and applied implementation insight, enabling effective interpretation, modelling, reporting and stakeholder communication in an IFRS 17 environment.

This programme delivers 8 hours of Continuing Professional Development (CPD) / Continuing Professional Education (CPE). Please note that it is a self-certified training initiative and does not carry formal accreditation from any external CPD or CPE governing body. Participants are strongly advised to consult with their respective professional, regulatory or membership organisations to determine the eligibility and recognition of these learning hours for their continuing education requirements.

Schedules Enquire Now WhatsApp Us

Introduction

Testimonials

Raja Srinivasan

CFO-t'azur Takaful Insurance

Appreciate that the end to end perspectives from the reporting requirements were covered.

Naji Sfeir

Financial Controller-MetLife Lebanon

The trainer is very knowledgeable and experienced in terms of the subject and he is able to clarified for what I have asked him during the class. All subjects discussed were very useful.

Steyo Archille Bogning

Actuary-Complementary Worker on Behalf of GSK

Learning about IFRS 17 group contracts aggregation with interaction was most useful. Very interesting training and the argument well explained with pertinent examples.

Graziella Cupidon-Singh

Manager - Group Business & Alliances-Afri Life Insurance Ltd

Thanks for covering reinsurance module. The topic is little tough and will require assistance for the company to be ready for implementation. The trainer has explained the modules is a simplified manner.

Learning Outcomes:

Demonstrates expertise in IFRS 17.
Helps professionals handle complex insurance accounting and reporting.
Enhances credibility for career growth or client-facing roles.
Prepares participants for practical, real-world IFRS 17 scenarios.
Receive in-house certification demonstrating IFRS 17 proficiency.

Details

1. Introduction to IFRS 17

Background, objectives, and main principles of IFRS 17
Key differences between IFRS 4 and IFRS 17
Global implementation status and 2026-2027 issues (experience adjustments, data gaps, operationalisation challenges)
Overview of measurement models (GMM, PAA, VFA) and how they align with insurance contract features
Key post-implementation amendments from IASB

2. General Measurement Model (GMM) / Building Block Approach (BBA)

Components of the GMM
Fulfilment cash flows
Contractual service margin (CSM) mechanics
Separation of investment components & distinct services
Insurance finance income and expenses (IFIE)
Treatment of experience variances
Illustrative GMM balance-sheet & P&L examples

3. Best Estimate of Fulfilment Cash Flows

Principles for estimating future cash flows
Use of actuarial models and data requirements
Contract boundary under BEFCF
Experience variances, assumption changes & risk adjustments
Contract boundary rules for long-term & short-term contracts
Acquisition cash flows and insurance acquisition expense recoverability tests

4. Discounting (Current Guidance & Practical Issues)

IFRS 17 discount rate principles: top-down vs bottom-up
Locked-in vs current discount rates
Yield curve construction challenges post-2023
Illiquidity premiums / adjustments
Impact on CSM and insurance finance income

5. Risk Adjustment for Non-Financial Risk

Definition & principles
Confidence level disclosure requirements
Approaches: cost-of-capital vs confidence level
Diversification benefits and aggregation rules
Reinsurance RA vs direct RA treatment
Ongoing interpretational issues as seen in 2025/2026

6. Contractual Service Margin (CSM)

Initial recognition and CSM establishment
Coverage units (2026 trending topics: service pattern determination)
CSM amortisation
Loss component interactions
Treatment of investment-related services under VFA
Experience adjustments affecting CSM
CSM roll-forward disclosures

7. Presentation & Disclosure

Updated IFRS 17 financial statements structure (Income Statement, Balance Sheet, OCI)
Insurance revenue vs premiums
New disclosure requirements:

Reconciliation tables (CSM, RA, liabilities)
Insurance service result
Insurance finance result
Sources of profit (SoP) framework in practice

8. Level of Aggregation (With 2026 Practical Issues)

Portfolios, groups, annual cohorts
Onerous, no significant risk of becoming onerous, and no significant variability groups
Practical challenges: policy administration systems vs actuarial modelling
Reliefs for reinsurance vs direct contracts
Enforcement trends from 2023-2025 filings

9. Initial Recognition of Insurance Contracts

Criteria for contract recognition
Treatment of acquisition cash flows
Boundary impacts and coverage start date
Day-1 CSM & onerous contract tests

10. Onerous Contracts

Identification and measurement of loss components
Treatment of changes in fulfilment cash flows
Subsequent reversal rules
Onerous contract indicators

11. Contract Boundary (Expanded)

Regulatory constraints vs practical constraints
Renewal options
Modifiable vs non-modifiable cash flows
Case examples for long-term health, life, and general insurance

12. OCI Option (Insurance Finance Income/Expenses)

When and how to use OCI
Asset-liability matching impact
Analysis of earnings volatility
2023-2026 trends: who is using OCI and why

13. Premium Allocation Approach (PAA)

Eligibility assessment (including “similar to PAA” practical relief)
Simplifications compared to GMM
Liability for incurred claims (LIC) vs remaining coverage (LRC)
Discounting & RA considerations in PAA
Expense recognition under PAA
Example walk-through with short-duration contracts

14. Variable Fee Approach (VFA)

Applicability: participating / with-profits contracts
The “variable fee” mechanics
CSM modifications for underlying items
Treatment of financial risk changes
VFA vs GMM comparison
Practical experience from insurers (2023-2026)

15. Reinsurance

Reinsurance held vs reinsurance issued
Proportionate vs non-proportionate reinsurance
Risk adjustment differences for cedants
Reinsurance contract boundary
CSM treatment for reinsurance held (Gain-on-buy & Loss Recovery Component)
Practical modelling issues for 2025-2026

16. Implementation Considerations (2026 Perspective)

Post-go-live challenges
Transition methods recap:

Full retrospective
Modified retrospective
Fair value approach

Transition disclosures
Systems integration & data model improvements
Actuarial system alignment (Prophet, MoSes, Axis, etc.)
Finance-Actuarial collaboration frameworks
Lessons learned from first 2-3 years of IFRS 17 reporting

17. Exercises / Case Studies (Updated)

Hands-on practical modelling:

Full GMM modelling exercise (cash flows, RA, CSM roll-forward)
PAA case study (LRC, LIC, discounting, RA)
VFA modelling example (underlying items, fee adjustments, CSM unlocks)
Reinsurance (LRC + LIC, Loss Recovery Component, gain-on-buy, RA differences)

Additional 2026-relevant case studies:

OCI vs P&L impact analysis
Level of aggregation & cohorting problems
Discount rate construction exercises

18. Bonus Extra 1-Hour Session

IFRS 17 Software Training - Updated Models (2026)
GMM Insurance Excel Model
GMM Reinsurance Model
PAA Insurance Model
PAA Reinsurance Model
VFA Insurance Model
Overview of system workflows (Actuarial engine → IFRS 17 valuation engine → GL)
Interpreting system outputs vs insurer disclosures

Why is it beneficial to obtain the IFRS 17 certification?

Obtaining the IFRS 17 certification is highly beneficial for finance, accounting and insurance professionals, as IFRS 17 represents one of the most complex and impactful accounting standards in the global insurance industry. With insurers and reinsurers required to comply with IFRS 17 across multiple jurisdictions, professionals who can interpret and apply its measurement models, reporting requirements and disclosure framework are increasingly in demand. The certification equips professionals with the technical expertise needed to support compliance, enhance financial transparency and manage complex insurance reporting requirements.

From a career and compensation perspective, IFRS 17 certification often places professionals in specialised roles that attract higher remuneration than general accounting positions. Organisations typically reward IFRS 17 expertise with premium salary bands, enhanced benefits and greater job security due to the scarcity of experienced talent and the ongoing nature of IFRS 17 reporting. Certified professionals are frequently considered for senior reporting, finance management and specialist advisory roles where technical knowledge directly influences financial outcomes.

Beyond salary benefits, IFRS 17 certification enhances professional credibility and supports long-term career progression. It demonstrates advanced technical competence, strengthens decision-making capability and improves global employability within insurance, audit and consulting environments. By obtaining IFRS 17 certification, professionals position themselves as trusted experts capable of delivering accurate, compliant and high-quality financial reporting in an increasingly complex regulatory landscape.

About The Trainer

He is an IFRS 17 Implementation Manager, a Chartered Accountant and a CPA Associate with over 15 years of experience in the insurance industry.

Our Clients

Frequently Asked Questions

IFRS 17 Accounting Certification Course

1. What is the difference between live online training or self paced course?

No difference in the content. In self paced course, you will have eLearning course access with pre-recorded lectures, training materials, solved examples and certification assessment. And, with live training option, you will join Zoom meeting and attend interactive training session.

2. Is there an exam for certification?

Yes, there will be an assessment of 20 questions based on the training topics at the end of the course. You will need to score at least 75% to pass. Participants will receive a certificate of completion reflecting 8 CPD/CPE hours, issued on a self-certification basis.