IFRS 17 Actuarial Techniques and Practices Seminar in Taipei

Alex Tsai, Sales Executive - Greater China, RNA Analytics

On 27th July 2020, Soochow University and local actuarial society hosted an IFRS 17 seminar in Taipei, in which RNA Analytics successfully presented the experience on IFRS 17 system implementation. The organizer, Department of Finance Engineering and Actuarial Mathematics of Soochow University, has a close bond with global actuarial institutions, and therefore, this seminar has attracted many experts from actuarial fields.

In this seminar, RNA Analytics played a key role in sharing information not only on IFRS 17 technical approach but also the joint development of transferring RNA solutions to the cloud with Microsoft. The seminar also gathered senior executives across Life, non-Life, and Reinsurance sectors to present the most updated information from the industry, such as special treatment for reinsurance and the connection between Insurance Capital Standard (ICS) and IFRS 17.

A full house of dedicated support from attendees proved that this was a successful seminar. In particular, the sharing of insights and hands-on experiences from both RNA Analytics and industry experts will admittedly help Taiwanese insurers heading for IFRS 17 journey which is scheduled to be adopted in 2026.