Chair: Japheth Indakwa, FSA
Objectives:
  • Capitalmodelling:
Complete the work on the risk charges that was started in 2018.
  • IFRS17:
Have discussion sessions on the implementation of IFRS 17 by the GI practitioners. It was suggested that we have open sessions on the GI implementation of IFRS 17 in a bid to have a convergent implementation and best practice guidance for the industry practitioners. JK is to lead the first open session in the next WP meeting. Members were encouraged to take lead in future IFRS 17 discussions on GI.
  • Pricing:
In response to the huge underwriting losses in the motor private insurance business, it was agreed that there is need to embark on a project that can give guidance on GI actuaries when pricing. Martin, Edmond and James to take lead on this and the rest of the members to jump in.
  • Thought leadership:
We target to raise awareness through a quarterly publication in the Business Daily. Members will volunteer to write these articles.
  • Expense analysis:
Issue a guidance on expense allocation which
  • Reserve adequacy tests:
Work on a guidance note on carrying out reserve adequacy tests

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