International IFRS 17 in Bogotá

Highlights from the SOA LAC seminar

August/September 2019

Photograph: Fedenco Tassara

The Society of Actuaries (SOA) Latin America Committee (LAC) sponsored a three-day seminar on International Financial Reporting Standards 17 (IFRS 17) May 29–31 in Bogotá, Colombia. The seminar is one of several professional development events the SOA has sponsored in Latin America, and it is the result of continued collaboration with INS-Fasecolda (National Insurance Institute is the educational branch of the Colombian Federation of Insurers). The seminar is the second international actuarial event held in collaboration with INS.

Thirty-five individuals from different countries in Latin America attended the event, including actuaries and accountants with diverse backgrounds such as analysts, directors and consultants. Several industries, including insurance, reinsurance, consultancy and regulatory, were represented.

Carlos Arocha, FSA, and Federico Tassara, ASA, both members of the SOA LAC, led the seminar course. The course included three modules along with practical hands-on examples and presentation of results. SOA President-elect Andy Rallis, FSA, MAAA, gave a keynote speech on his experience with IFRS 17 in an international context. He also spoke about the SOA and the work it is doing in the region. Luis Caro, ASA, member of the SOA LAC, also attended the seminar.

The seminar also included a networking reception with all participants and VIP guests from the region and MetLife.