


IFRS 17
IFRS 17 is a mandatory international financial reporting standard coming into effect for (re)insurance and captive companies in Malaysia starting in FY2024. The primary goal of IFRS 17 is to enhance comparability of financial performances across companies from different countries.



The Challenge Group team brings more than 5 years of experience in accounting and methodology development in accordance with IFRS standards across international markets, backed by over 20 years of expertise in insurance and regulatory compliance.
As your IFRS 17 service provider, we guarantee that our level of service will help you meet all regulatory requirements while enhancing your company's long-term financial well-being.
We provide a comprehensive suite of IFRS 17 services:
TREATMENT OF CONTRACTS
• Contract Separation
• Contract Combination
• Contract Boundaries
• Contract Modifications
• Cohort Tagging
GROUPING OF CONTRACTS
• Level of Aggregation
• Allocation Methods
• Risk Adjustment
• Onerousity Assessment
MEASUREMENT MODELS
• Application of Premium Allocation Approach (PAA)
• General Measurement Model (GMM)
OTHER ACTUARIAL MATTERS
• Discount Rate
• Treatment of Expenses
• Reinsurance Considerations
• Insurance Contract Termination
• Loss Adjustment and Risk Adjustment