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Course Description1 Module 1 Video
A primary goal of IFRS 17 is to ensure the financial statements of an insurance company are comparable between insurers in the same market as well as in very different markets and gives a fair representation of the insurer. This presentation thus focuses on what is ACTUARIALLY different between Takaful and conventional insurance and how should this affect transparency and market discipline.
Questions such as:
- Are there really any actuarial differences between Takaful and conventional insurance?
- What are the differences in purpose of financial statements between Takaful and conventional insurance?
- What are the challenges of ensuring consistency of financial statements of different Takaful operators?
This presentation is free to the public, however, registration is required to access.
Hassan Scott Odierno has been a partner with Actuarial Partners Consulting in Malaysia and involved in insurance consulting since 1996. He is currently active in IFRS 17 projects in countries such as Malaysia, Sri Lanka and Saudi Arabia. He has been Appointed Actuary for a number of insurers and Takaful operators in Malaysia as well as Labuan, Brunei, Hong Kong, Sri Lanka, Nepal, Myanmar, Cambodia, Mauritius, Kenya, Uganda, Tanzania and Burundi.
He is co-author of the World Bank book Takaful and Mutual Insurance, co-author of the book Essential Guide to Takaful and is a contributing author to the book Actuaries in Microinsurance and Health Insurance in Asia. He has also been the external advisor to two universities in Malaysia to their risk management and actuarial science programs.
Hassan is a Fellow of the Society of Actuaries, and has a Bachelor of Science degree with high distinction in Mathematics from Worcester Polytechnic Institute in the USA.
- TAKAFUL & IFRS17: PRIME CONSIDERATIONS FOR STAKEHOLDERS