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21 September 2017

IASB announces composition of the Transition Resource Group for IFRS 17 Insurance Contracts

The International Accounting Standards Board (Board) has today confirmed the membership of its IFRS 17 Transition Resource Group (TRG), established to support implementation of the new Standard issued in May 2017.

IFRS 17 represents a fundamental change to existing practice for most companies issuing insurance contracts; and therefore implementation is expected to require significant effort. In view of the magnitude of the change, the Board will support implementation of IFRS 17 through a variety of activities—including a TRG.

The objective of the TRG is to provide a public forum for any stakeholder to share implementation questions with the Board and to follow the discussion of those questions.

The TRG comprises experts directly involved in the implementation of IFRS 17: nine members are preparers of financial statements and six members are audit practitioners. An additional three members with observer status represent international security regulators, insurance supervisors and actuarial organisations.

The TRG will not issue any authoritative guidance; but the IFRS Foundation will publish summaries and recordings from the meetings on our website.

The first meeting of the TRG, which will be used to discuss administrative matters and to establish how the group will operate, takes place on 13 November 2017.

Member	Organisation	Job title
Vasilka L Bangeova	Grant Thornton UK LLP	Director, head of insurance technical
Laurent Cholvy	AXA	Group head of accounting norms and actuarial reporting
Jo Clube	Aviva plc	Technical accounting director
Anne Driver	QBE Insurance Group	Group head of finance policy and assurance
Sai-Cheong Foong	AIA Group Limited	Group chief actuary
Jens Freiberg	BDO AG Wirtschaftsprüfungsgesellschaft	Partner, head of accounting advisory group
Kevin Griffith	EY	Partner, global IFRS insurance leader
Francesco Nagari	Deloitte	Partner, global IFRS insurance leader
Jeong Hyeok Park	Samsung Life Insurance	General manager
Roman Sauer	Allianz SE	Head of group accounting and reporting
Lesley Thomson	Sun Life Financial	Vice president and deputy chief actuary
Massimo Tosoni	Assicurazioni Generali SpA	Head of group accounting policy and reporting
Mary Helen Trussell	KPMG	Partner and global leader, insurance change
Gail Tucker	PricewaterhouseCoopers	Lead global accounting technical partner responsible for insurance
Ying (Sally) Wang	China Pacific Life Insurance Co., Ltd	Deputy general manager and chief financial officer

Observers	Organisation
William C. Hines	International Actuarial Association
Thorsten Melcher	International Organization of Securities Commissions
Kallol Sen	International Association of Insurance Supervisors

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IASB announces composition of the Transition Resource Group for IFRS 17 Insurance Contracts

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