Participants of a
hosted by Ernst & Young in the US has found that life insurance
companies are struggling to cope with the changes resulting from the convergence
of US GAAP and IFRS.
CFOs and senior life insurance executives agreed that there was an
over-riding consensus that the industry is struggling to understand and prepare
for the impact the financial reporting changes will have on business.
The regulations are still in flux but companies who seek to understand the
impacts of the changes on their businesses will be better equipped to deal with
‘Impacting pricing and risk management, the transition to principles-based
reserving and capital, coupled with pending regulatory convergence, will require
significant changes in processes and systems,’ said E&Y’s senior actuarial
advisor, Tara Hansen.
The new team will begin their new roles on May 9, 2017 for a year term
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal