Five-day workshop was delivered by the CFRR on May 16-20, 2022, in Yerevan, Armenia on the IFRS 17 “Insurance Contracts” Implementation for Armenian Regulators and Insurance Industry. The event was organized in cooperation with the Central Bank of Armenia (CBA).
The event aimed at providing implementation support to the CBA and the insurance industry in applying IFRS17, which will become mandatory starting January 1, 2023. The event was attended by 18 participants, including representatives of the CBA, insurance companies and auditors.
Presentations were followed by interactive Questions and Answers sessions and supplemented by case studies. The workshop helped the Armenian regulators and the profession to learn in-depth about objective, structure, and concepts under IFRS 17, transition to IFRS 17, Core IFRS 17 model, Premium allocation approach, Reinsurance, presentation and disclosures as well as about transition resources group.