IFRS 17

At Nordisk Aktuarservice, we support insurance companies across Denmark and Scandinavia with the implementation, enhancement, and ongoing operation of IFRS 17. By combining actuarial expertise, data-driven analysis, and practical implementation experience, we help transform IFRS 17 from a compliance requirement into a management tool tailored to your organisation's needs.

IFRS 17 has a significant impact on financial reporting, capital management, and decision-making within insurance companies. The standard introduces substantially higher requirements for the measurement, documentation, and presentation of insurance contracts, while demanding greater consistency and transparency in financial reporting. Successful implementation requires close collaboration between actuarial, finance, and risk management functions, supported by reliable data and robust processes.

We help organisations translate IFRS 17 requirements into practical, transparent, and sustainable solutions that support day-to-day operations, regulatory compliance, and informed business decisions.

Key IFRS 17 Requirements

IFRS 17 introduces, among other things:

  • New principles for the valuation of insurance liabilities
  • Increased requirements for data quality, documentation, and methodology
  • Closer integration between actuarial calculations and financial reporting
  • Greater emphasis on clear and transparent reporting to management, the board, and investors
  • Alignment with Solvency II and risk management frameworks

IFRS 17 is therefore more than an accounting standard. It is a key component of an insurer's overall financial management framework and plays an important role in strategic decision-making, performance measurement, and capital planning.

At Nordisk Aktuarservice, we support the entire IFRS 17 journey, from initial assessments and implementation to ongoing operation and continuous enhancement. Our advice is tailored to each organisation's business model, data environment, and organisational structure, ensuring that IFRS 17 becomes an integrated and value-adding part of your operating framework.

Our services include:

  • Initial assessments of data quality, modelling approaches, and methodological choices
  • Actuarial support for the measurement of insurance liabilities under IFRS 17
  • Preparation of documentation and methodology descriptions for internal and external reporting
  • Support for management and board reporting
  • Alignment of IFRS 17 with Solvency II and risk management frameworks
  • Ongoing advisory support and independent review of operational processes and model developments

Our approach is pragmatic and transparent. We apply methodologies with the necessary technical rigour while avoiding unnecessary complexity.