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NZSA | Sessional Meeting to discuss Professional Standards

13 September 2023 at 12:00 pm 1:00 pm

Professional standards for insurance valuations and Financial Condition Reports have recently been amended to enable compliance under either the account standard (IFRS4) or the new financial reporting standard (IFRS17) and interim solvency standards that are being phased in. These amendments were the minimum required and followed a fast-track process. They are intended as temporary, pending a more thorough review, with member and stakeholder consultation anticipated. The Health Insurance, General Insurance and Life Insurance committees recently sent out a member survey to guide the work program for the fuller review of NZSA’s Insurance Standards. This sessional meeting with summarise the findings of this survey, outline the proposed approach to updating the standards which will be undertaken over the next few months and provide members with an opportunity to provide any additional thoughts to be considered during the updating of the standards. Please reach out to Caroline Moy (cmoy@dataly.co.nz) or Manan Chadha (manchadha@deloitte.co.nz) with any questions.