Coral Gables, October 18, 2023 – SL FINANCIAL is an actuarial consulting and advisory firm based in Miami, Florida. We offer complete actuarial solutions in both traditional (re)insurance and alternative risk financing industries.

IFRS 17 is an International Financial Reporting Standard that was issued by the International Accounting Standards Board (IASB) in May 2017. It is a major revision of the accounting for insurance contracts and is intended to provide more relevant and transparent information about insurers' financial position and performance. IFRS 17 requires insurance companies to use actuarial models to measure the value of their liabilities. There are a variety of IFRS 17 models and software available, and the best choice for a particular company will depend on its size, types of contracts, and budget.

When choosing an IFRS 17 model, consider the following factors:

• Accuracy. The model should produce accurate and reliable results.
• Flexibility. The model should be flexible enough to meet the company's needs.
• Ease of Use. The model should be easy to use for both actuaries and non-actuaries.
• Cost. The model should be affordable for the company’s budget.

IFRS 17 software can help insurance companies produce accurate results, automate the process of calculating liabilities, and comply with the new standard. The following have been identified as possible solution providers for IFRS 17:

• SAP for Insurance Contracts. Suite of pre-configured and pre-integrated cloud services that is designed to drive incremental revenue and profitability for today’s insurance companies.
• Risk Integrity™ IFRS 17. Moody’s Analytics’ cloud-ready solution that helps insurers report under IFRS 17.
• SAS Insurance Analytics Architecture. Flexible and complete solution that eliminates the piecemeal approach of linking and managing technologies from different vendors
• Wolters Kluwer CCH Tagetik. Platform that connects finance and operations with an extensible platform and powerful data engine

Insurance companies often develop customized IFRS 17 solutions to meet their specific needs. In such cases, actuarial and IFRS 17 expertise coupled with IT inputs are required to ensure a result that is adapted to their needs.

SL FINANCIAL has been supporting companies in both French and Anglophone regions across Africa for the implementation of IFRS 17 standards. We are a recognized pioneers in the implementation of IFRS 17 standards in the insurance industry in Africa, and our goal is to ensure that insurance companies in Africa have the new standard adapted to their needs.

For any question or media inquiry, please visit our website at www.sl-financial.com or contact our team at that ceo@sl-financial.com.

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Achille Sime

CEO

ceo@sl-financial.com