Shakib Abu Zeid (Iman Al-Wasili) In a practical translation of its efforts aimed at promoting and upgrading the Arab insurance markets, and keeping pace with all developments on the global scene, the General Arab Insurance Union, headed by Shakib Abu Zeid, Secretary-General of the Union, will organize its virtual symposium tomorrow, Tuesday, the twenty-fourth of May. Eleventh year on the Accounting Standard No. 17 for the intermediate level. And in his statements about \u201cbusinessmen,\u201d Shakib Abu Zeid said: The General Arab Insurance Federation is organizing this important seminar in cooperation with a group of actuaries , and the International Society of Actuaries SOA , and the women of Haider Murshid and their associates 2023SHMA172023, and this seminar comes within a series of 3 parts dedicated to IFRS No. . The symposium discusses and discusses through the experts participating in it many important themes, on top of which is \u201cdiscussing the impact of this standard on insurance companies, and the application of PAA172023 for general insurance companies, as well as the application of GMM for companies Life Insurance,\u201d and it is managed by \u201cAndrew J,\u201d Senior International Director of the Actuaries Association, and \u201cShakib Abu Zaid,\u201d Secretary General of the Arab General Insurance Federation. It is worth mentioning that the General Arab Insurance Federation had organized last March a virtual seminar in cooperation with the International Association of Actuaries ( SOA172023) and sponsored by SHMA Consulting titled \u201cThe principles of the International Accounting Standard 17 and its entry into force in , during which the participants explained that the accounting standard 172023 172023 IFRS , will increase the transparency of disclosure for insurance companies and better comparability of their results. The new accounting standard is based on the idea of \u200b\u200bcalculating insurance contracts based on their expected profits or losses, while preventing any offsetting between contract profits and losses, which will enhance the fairness and transparency of the information provided, in addition to imposing the general model (GM172023) included in the standard is the measurement of liabilities using probability-weighted estimates of future cash flows; Then it is adjusted for risk and with a contractual service margin representing the expected profits.