AM Best to Deliver Presentation on IFRS 17 Impacts at General Arab Insurance Federation Conference

LONDON--(BUSINESS WIRE)--AM Best will participate in the 33rd annual General Arab Insurance Federation (GAIF) Conference, which will take place 5-8 June 2022 in Oran, Algeria.

William Keen-Tomlinson, associate director, analytics, AM Best will join a session to discuss IFRS 17 and its expected impacts on the insurance industry, as well how AM Best will treat the new accounting standard within its rating process. The presentation also will include a look at MENA-specific considerations; changes in the presentation and terminology of (re)insurance accounts; and market readiness ahead of the 1 January 2023 implementation. Keen-Tomlinson has been with AM Best since 2018 and is responsible for maintaining a diverse portfolio of insurance and reinsurance ratings, with a focus on the EMEA region. The session is scheduled for 7 June at 9:45 a.m. (CEST). Also taking part is Mohamed Hakim SOUFI, chief executive officer of Macir Vie, who will give his views on regulatory challenges amid digital transformation with the industry. Keen-Tomlinson’s portion of the presentation begins at 10:15 am. (CEST).

The theme of this year’s GAIF conference is “The new context and its impact on the insurance industry: Which challenges and opportunities for the Arab insurance market?” and beyond technical changes for MENA insurers, will also explore issues such as the ongoing effects of COVID-19, emerging risks and new products and the use of public-private partnerships to reduce protection gaps.

Additionally, Vasilis Katsipis, AM Best’s general manager of market development for the MENA and South and Central Asia regions, along with Alex Rafferty, associate director, analytics, will be available throughout the event to conduct meetings and answer questions on the credit rating process. They can be reached at [e-mail] or [e-mail].

GAIF is an Arab international organization whose aims include the promotion of the Arab insurance industry and enhancing cooperation among Arab insurance markets and related bodies. For more information about the GAIF conference, please go to the official event page.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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