21 September 2017

IASB announces composition of the Transition Resource Group for IFRS 17 Insurance Contracts

The International Accounting Standards Board (Board) has today confirmed the membership of its IFRS 17 Transition Resource Group (TRG), established to support implementation of the new Standard issued in May 2017.

IFRS 17 represents a fundamental change to existing practice for most companies issuing insurance contracts; and therefore implementation is expected to require significant effort. In view of the magnitude of the change, the Board will support implementation of IFRS 17 through a variety of activities—including a TRG.

The objective of the TRG is to provide a public forum for any stakeholder to share implementation questions with the Board and to follow the discussion of those questions. 

The TRG comprises experts directly involved in the implementation of IFRS 17: nine members are preparers of financial statements and six members are audit practitioners. An additional three members with observer status represent international security regulators, insurance supervisors and actuarial organisations.

The TRG will not issue any authoritative guidance; but the IFRS Foundation will publish summaries and recordings from the meetings on our website.

The first meeting of the TRG, which will be used to discuss administrative matters and to establish how the group will operate, takes place on 13 November 2017.

Member

Organisation

Job title

Vasilka L Bangeova

Grant Thornton UK LLP

Director, head of insurance technical

Laurent Cholvy

AXA

Group head of accounting norms and actuarial reporting

Jo Clube

Aviva plc

Technical accounting director

Anne Driver

QBE Insurance Group

Group head of finance policy and assurance

Sai-Cheong Foong

AIA Group Limited

Group chief actuary

Jens Freiberg

BDO AG Wirtschaftsprüfungsgesellschaft

Partner, head of accounting advisory group

Kevin Griffith

EY

Partner, global IFRS insurance leader

Francesco Nagari

Deloitte

Partner, global IFRS insurance leader

Jeong Hyeok Park

Samsung Life Insurance

General manager

Roman Sauer

Allianz SE

Head of group accounting and reporting

Lesley Thomson

Sun Life Financial

Vice president and deputy chief actuary

Massimo Tosoni

Assicurazioni Generali SpA

Head of group accounting policy and reporting

Mary Helen Trussell

KPMG

Partner and global leader, insurance change

Gail Tucker

PricewaterhouseCoopers

Lead global accounting technical partner responsible for insurance

Ying (Sally) Wang

China Pacific Life Insurance Co., Ltd

Deputy general manager and chief financial officer


Observers

Organisation

William C. Hines

International Actuarial Association

Thorsten Melcher

International Organization of Securities Commissions

Kallol Sen

International Association of Insurance Supervisors

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