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08 September 2022

IFRS 17 insurance contracts - the fundamentals


Get an overview of the new accounting standard for insurance contracts - IFRS 17

Who should attend?
This half day course will benefit anyone who requires an overview of the new accounting standard for insurance contracts - IFRS 17.

What you will gain
IFRS 17 is the long awaited replacement to IFRS 4 which was a temporary standard issued in 2004 to coincide with the introduction of IFRS Standards for EU listed entities and which permits a wide variety of accounting treatments for insurance contracts.

IFRS 17 was originally scheduled to be effective for periods commencing on/after 1 January 2021, although the effective date has now been delayed to 1 January 2023.

The objective of IFRS 17 is to provide increased transparency of the profitability of insurance companies, and to provide enhanced comparability between the financial statements of insurance companies worldwide.

On completion of the course you will be able to:

  • identify which transactions are within the scope of IFRS 17
  • determine whether non-insurance elements require separation
  • understand the fundamentals of the General Measurement Model
  • apply the Premium Allocation Approach

Programme outline
The nature of insurance contracts
The alternative models
The General Measurement Model

  • Separation of non-insurance elements
  • Grouping of insurance contracts
  • Initial measurement: fulfilment cash flows and the contractual service margin
  • Subsequent measurement: the liability for remaining coverage, the liability for incurred claims, income statement amounts and potential bifurcation
  • Illustrative examples: onerous and profitable contracts and the impact of discounting

The Premium Allocation Approach

  • Circumstances for use
  • Illustration of accounting

The course will start at 9.30am and ends at 12.45pm. Refreshments are provided.
3 CPD hours (where applicable). 

CIMA work in partnership with BPP Professional Education to offer CPD training courses

Booking Information

Date Location Price
8 September 2022 - 09:30 Online Live - morning course Price: GBP 315.00
Member price: £284. Plus VAT on all prices.

IFRS 17 insurance contracts - the fundamentals

CIMA members and students should log in to MY CIMA before booking to receive the appropriate discount.

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In-house training 
We can develop tailored training programmes to enhance the finance and business skills of staff across your organisation. To discuss how we can meet your learning and development needs please email us.

Find out more 
If you have any queries please email or phone us on: +44 (0)3300 603400.

The venue for this course will be confirmed 14 days before the scheduled date. 

CIMA work in partnership with BPP Professional Education to offer CPD training courses.  

This course will be delivered by BPP Professional Education Limited (“BPP”).  Accordingly, when you sign up for this course, CIMA will pass on the contact details you have provided to BPP so that they can contact you to complete your booking and process payment.  BPP will process any personal information it collects about you in accordance with its privacy policy, which is available at:

The information provided to BPP will not be used by BPP for marketing purposes.

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