Insurance

The General Arab Insurance Federation is organizing a virtual seminar tomorrow

شكيب أبوزيد Shakib Abu Zeid

(Iman Al-Wasili)

شكيب أبوزيد 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 “businessmen,” 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 شكيب أبوزيد

, and the women of Haider Murshid and their associates 2023

SHMA172023, 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 “discussing 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,” and it is managed by “Andrew J,” Senior International Director of the Actuaries Association, and “Shakib Abu Zaid,” 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

شكيب أبوزيد SHMA Consulting titled “The 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 ​​calculating 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.