Webinar

AASB 9 (IFRS 9) for Insurers: Challenges & Solutions

On Demand
Duration: 48 Minutes
Original Date: May 11, 2022

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The adoption of AASB 9 (IFRS 9) will drastically change the way financial instruments are accounted for and represents a seismic shift due to its broad reach and technical requirements. While insurers were given a deferred adoption date of Jan 1, 2023, this has proved to be a double-edged sword. While the additional time has been welcomed, the recent deterioration in the credit markets will result in much more drastic day one impacts and increased scrutiny from auditors and regulators.

These changes will impact both Insurers and their Asset Managers and with recent market volatility, managing and measuring credit risk has become an even bigger focus. Insurers are uniquely affected by this regulation, particularly those who currently hold amortized cost assets or make significant use of the Available for Sale category ("AFS") under IAS 39.

Join us as we explore some of the biggest implementation challenges, from establishing a transition plan to the automation of classification, measurement and modeling processes. In this session, we will also present Bloomberg's comprehensive solution to help support you through this transition.

Speakers

Scott Coulter

Global Product Manager, Accounting & Regulatory

Bloomberg L.P.

Scott Coulter is the Global Product Manager responsible for Bloomberg's Accounting & Risk data. In this role, he works with the broad industry to develop solutions that leverage Bloomberg's data and calculators to help address accounting, risk and regulatory challenges. Scott leverages extensive experience in the financial services industry and expertise in accounting, regulatory and risk consulting to develop products that enable clients to efficiently manage risk and comply with regulatory standards.

Prior to joining Bloomberg, Scott most recently worked as a technical accounting and regulatory consultant at Ernst & Young LLP, specializing in a broad range of accounting and regulatory topics.

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