• The aim of this section is to provide a background to IFRS 17, its objectives and the scope of the standard.
  • Introduction to IFRS 17 - reasons for IFRS 17: scope and exclusions
  • Executive summary: overview of the standard, key terms and principles

• The aim of this section is to appreciate the recognition and measurement approaches to insurance contracts and evaluate its impact on the financial statements.
  • Insurance contracts: combination, separation of components and level of aggregation
  • Recognition of insurance contracts: criteria and timing of recognition
  • Measurement: overview of the different accounting approaches

• The aim of this section is to obtain an in-depth understanding of the different measurement models and evaluate its impact on the financial statements.
  • General approach: initial recognition, subsequent measurement and presentation
  • Premium allocation approach: initial recognition, subsequent measurement and presentation
  • Modified approaches for other contracts: reinsurance contracts, contracts with direct and discretionary participation features
  • Contract modifications and de-recognition of insurance contracts: Impact of modifications on financial statements, de-recognition principles

• The aim of this section is to explain the transition, presentation and disclosure requirements in relation to insurance contracts.
  • Transition approaches: full retrospective, modified retrospective and fair value
  • Presentation: statement of financial position, statement of financial performance
  • Disclosures: qualitative and quantitative disclosures, significant judgements and nature and extent of risks

• The aim of this section is to provide an overview of IFRS 9 Financial Instruments.
  • IFRS 9 adoption for insurers: overlay approach, deferral approach and transition requirements
  • Classification and measurement: classification of financial assets based on business model and nature of cash flows, re-designation of financial assets on adoption of IFRS 17, classification of financial liabilities
  • Expected credit loss impairment model: general model, simplifications and practical expedients
  • Hedge accounting: IFRS 9 updates
  • Disclosures: qualitative and quantitative disclosures

Adeel Mushtaq is the Senior Vice President for Qatar Insurance Company – Investments and Governance. He was the director of assurance and advisory services with KPMG and EY prior to joining Qatar Insurance Company. He is experienced in managing large and complex assurance and advisory projects with demonstrable record of achievements with blue-chip financial services business including banks, general insurance companies and insurance brokers.

Mr. Mushtaq is well-known as an experienced Insurance and Investments sector professional with vast experience in advising insurers globally on accounting change with hands-on experience of IFRS 9 implementation. He has supported board and senior management in the exploration of strategic options and models, risk, regulation and capital management, governance. He has led several business transformation, turnaround & performance effectiveness/ improvement projects.

Mr. Mushtaq founded Takaful Research Foundation and Takaful Working Group, a thought leadership and technical team comprising practitioners to develop Takaful standards. He regularly publishes and speaks at Insurance and Takaful events to share research, trains and advices on Insurance business.

Besides various accolades and certifications, he is a qualified Chartered Accountant from England & Wales, fellow of the Association of Chartered Certified Accountants (UK), holds Advanced Diploma in Insurance from Chartered Insurance Institute (UK) and a Certified Internal Auditor (USA). Mr. Mushtaq also holds an MSc from UCL, University of London.