Magazine Table of Contents
The COVID-19 crisis has brought forth an unprecedented level of reputational threat which insurers must meet with a measured response.
The decision to place Arab Insurance Group in run-off paints a bleak picture of the Arab (re)insurance sector, with far-reaching consequences that should not be taken lightly.
There is a renewed focus to enhance risk management of insurance in the Middle East. The implementation of IFRS 17 couldn’t be a more timely move to bring more transparency and increase accounting consistency across the sector, says Dr Alok Kumar Aggarwal of Crowe UAE.
By taking a more strategic approach to solving IFRS 17 compliance, insurers stand to reap the benefit in the long run, steering their organisations towards becoming modern and agile businesses, says Mr Akhil Arora of Oracle Financial Services.
Mr Alexandre Tzenev of SCOR provides an overview of how reinsurance can be effectively utilised to mitigate the implementation challenges of IFRS 17.