Actuarial Foundation of Turkey organized a conference for the International Financial Reporting Standards IFRS 17, which will come into force as of 1 January 2021. Over 200 participants were hosted during the conference, which was launched with the opening speech by Taylan Matkap, President of the Actuarial Foundation. During his speech, he shared the details for the 2018 activities and 2019 targets of the Foundation. He talked about the recent developments after the Foundation became a full member of the International Actuarial Association (IAA), and stated that their new target was to finalize process of full membership to the Actuarial Association of Europe (AAE) within the estimated timeframe.

Matkap also shared detailed information and news from the 31st International Congress of Actuaries (ICA 2018), which was organized in Berlin between 4and 8 June 2018 with the participation of 2.741 representatives from 103 countries. He added that they were working towards hosting the international congress of 2030 in Turkey.

Organized at Milli Re headquarters on September 2018, the conference hosted Kevin Griffith, Global IFRS 17 Lead at Ernst & Young; and Franck Penteng and Romuald Salmon from international financial technology company FIS.   

Kevin Griffith, Global IFRS 17 Lead at Ernst & Young, participated the conference with a speech on “Recent global developments on IFRS 17 and impacts of the new standards on insurance companies”; while Franck Penteng and Romuald Salmon made a presentation about software solutions for IFRS 17 as representatives of FIS, one of the largest global software companies offering services to the insurance industry.

The conference was attended by the members of the Foundation, as well as representatives from the insurance market, Ministry of Treasury and Finance, Public Oversight Institution and faculty members from METU, Hacettepe University, Marmara University and Bilgi University.