Now it’s for real: making the most of the limited time until IFRS 17 is effective

AMR : Monday 28 March 2022

8:00am – 9:30am (EST)
1:00pm – 2:30pm (GMT)
2:00pm – 3:30pm (CET)

ASPAC : Tuesday 29 March 2022

10:00am – 11:30am (HKT)
11:00am – 12:30pm (JST)
1:00pm – 2:30pm (AEDT)

Webcast overview

For many insurers implementing IFRS 17, reality is fast approaching as they get ready to prepare their opening IFRS 17 balance sheet.

There are also several key tax considerations insurers should be aware of, including understanding the tax consequences of the transition adjustment and the treatment of policyholder taxes. Additional tax-related considerations include whether transaction-based taxes such as Insurance Premiums Tax and unrecoverable VAT are to be included in cash flows, and how deferred taxes and cash taxes might change. The OECD’s new global minimum tax framework adds an additional layer of complexity.

How can these pressures be alleviated? How can  insurers accelerate their progress and sense check whether they remain on track, including planning for the audit of their opening balance sheet, as well as meeting tax obligations?

During this webcast we will be sharing insights from our latest IFRS 17 readiness assessment together with topical hints and tips to help accelerate your progress and make the most of the limited time until IFRS 17 become effective. We will also spotlight key tax considerations that insurers must get on their radar now to avoid any unforeseen tax consequences.

Following the webcast, participants should be able to explain at a high level:

  • Where we see insurers on their journey to IFRS 17 and  the key areas to consider in order to accelerate future progress and make the best use of their remaining time until IFRS 17 is effective 
  • How to avoid losing sight of the opportunity to optimize and enhance the efficiency of the finance function
  • Tax reporting and disclosure requirements of the new standard
  • The background needed to ensure the scope of IFRS 17 projects include tax
  • Key areas of focus at the intersection of IFRS 17 and the OECD’s Pillar 2 framework

This webcast will last approximately 90 minutes. It will be recorded, and a link circulated for those unable to attend.

Featured Speakers

Mary Trussell

Mary Trussell

Global Insurance Change Lead Partner, KPMG International

Philip Jacobs

Philip Jacobs

Principal, Insurance Tax Lead, KPMG US

Thomas Brotzer

Thomas Brotzer

Partner, Financial Services Tax, KPMG Switzerland

Gordon Gray

Gordon Gray

Director, Insurance Tax, KPMG UK