WHAT WE DO
IFRS 17
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IFRS 17 Actuarial
Consulting
Ensure seamless IFRS 17 compliance with our expert actuarial consulting. We provide GAP analysis, modeling, and audit support for insurers across the GCC.
Specialists in IFRS 17 Implementation
IFRS 17 is a paradigm shift in how insurance contracts are measured and presented. It requires massive overhauls to actuarial models, accounting systems, and data pipelines. This creates complex actuarial obligations that demand rigorous qualified expertise.
At Lux Actuaries, our results are presented in a comprehensive, highly accessible Actuarial Report crafted to meet the stringent demands of international accounting standards. Our findings mirror the format of your Financial Statements, ensuring seamless review and adoption by your internal finance teams and external auditors.
Speak directly with an expert.
Discuss your reporting requirements and audit timelines.
Client Manager for your region
Comprehensive Valuation Process
From initial scoping to final audit sign-off, we handle every aspect of your IFRS 17 implementation with precision and care.
Gap Analysis & Readiness (for new implementations)
Phase 1Comprehensive gap analysis to assess data, systems, and process readiness for IFRS 17 insurance contracts compliance.
Actuarial Modeling & Methodology
Phase 2Expert determination and implementation of GMM, PAA, and VFA measurement models tailored to your insurance portfolios.
IFRS Compliance Reporting
Phase 3Full compliance with IFRS 17 disclosure requirements — profit or loss, OCI, sensitivity analyses, and reconciliation schedules.
Multi-Jurisdiction Expertise
OngoingValuations across the Middle East and Africa — UAE, Saudi Arabia, Egypt, East Africa, and beyond. Local regulations with global standards.
Fast Turnaround
OngoingStreamlined processes and experienced teams deliver accurate valuations within tight audit deadlines.
Advisory & Training
OngoingBeyond valuation reports — we help your team understand the numbers, assumptions, and their impact on financial statements.
Frequently Asked Questions
Common questions about IFRS 17 implementation and our services.
IFRS 17 requires highly granular data to group contracts into portfolios and profitability cohorts. Insurers must capture cash flows, discount rates, and risk adjustments at a much lower level than IFRS 4, demanding significant upgrades to actuarial systems and data pipelines.
The General Measurement Model (GMM) is the default for long-term contracts. The Premium Allocation Approach (PAA) is a simplified model typically used for short-term contracts (under one year). The Variable Fee Approach (VFA) is designed for contracts with direct participation features, where policyholders share in the returns of underlying items.
Yes, our team works directly with your external auditors to explain the methodologies, assumptions, and transition approaches used in our models, ensuring a smooth audit and final sign-off.
Ready to streamline your IFRS 17 compliance?
Partner with Lux Actuaries for independent, accurate, and audit-ready insurance contract valuations under IFRS 17.
Get in Touch Today