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L'application des dispositions de la norme IFRS 4 "contrats d'assurances" et de la directive européenne "Solvabilité II" par les entreprises d'assurances belges : état de la situation et perspectives

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Bréda, Sandrine ULiège
Promotor(s) : Schumesch, Patrice ULiège
Date of defense : 23-Jun-2016/28-Jun-2016 • Permalink : http://hdl.handle.net/2268.2/1422
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Title : L'application des dispositions de la norme IFRS 4 "contrats d'assurances" et de la directive européenne "Solvabilité II" par les entreprises d'assurances belges : état de la situation et perspectives
Translated title : [fr] The application of the final standard IFRS 4 "Insurance contracts" and the European directive "Solvency II" for Belgian companies
Author : Bréda, Sandrine ULiège
Date of defense  : 23-Jun-2016/28-Jun-2016
Advisor(s) : Schumesch, Patrice ULiège
Committee's member(s) : Herman, Magali ULiège
Delatte, Alain 
Language : French
Number of pages : 148
Keywords : [fr] IFRS 4 - Solvabilité - passifs d'assurances - provisions techniques
Discipline(s) : Business & economic sciences > Accounting & auditing
Target public : Researchers
Professionals of domain
Student
General public
Other
Institution(s) : Université de Liège, Liège, Belgique
Degree: Master en sciences de gestion, à finalité spécialisée en Financial Analysis and Audit
Faculty: Master thesis of the HEC-Ecole de gestion de l'Université de Liège

Abstract

[en] Nowadays, insurers are conveyed by two main legislations, namely the European Directive “Solvency II” and the standard IFRS 4 “Insurance contracts” phase II. Needless to say that the purpose of those two is to provide a one-track framework for insurance companies which accounting measurement principle is unique. However, those regulations have also specific different accounting and financial rules. As a consequence, insurers have decided to give the challenge of convergence a go. In this respect, this paper will first contribute to a description of both legislations with a main focus on the valuation of insurance liabilities. In order to do meet any convergence, we will in fact draw the major similarities between the European Directive “Solvency II” and the final standard IFRS 4 “Insurance contracts”. The second part of the thesis will be devoted to several analysis lead to answer the three following hypothesis:
- Hypothesis 1: “Solvency II” can be capitalised for the implementation of IFRS 4 “Insurance contracts” phase II.
- Hypothesis 2: The costs engendered by the two legislations worth the benefits they can bring.
- Hypothesis 3: The impacts produced by the two regulations differ according to the size of the insurance company.
The panel questioned will consist of the seven market leaders, according to the life technical provisions. Interviews will be lead with financial experts who respectively represent either the European Directive or the standard IFRS. Those exchanges will serve as a basis to tackle the different impacts endured by the insurance companies as well as to suggest capitalisation leads.
To conclude, we will figure out first that the enforcement of “Solvency II” was really demanding at the following levels: human, operational and financial. Afterwards, capitalisation tracks actually exist but in addition of the complexity of such an implementation, as the final standard IFRS 4 “Insurance contracts” has not come out yet most of the insurers have not started this process neither.


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Author

  • Bréda, Sandrine ULiège Université de Liège > Master sc. gest., fin. spéc. fin. analysis & aud (ex 2e ma.)

Promotor(s)

Committee's member(s)

  • Herman, Magali ULiège Université de Liège - ULg > HEC-Ecole de gestion de l'ULg : UER > UER Finance et Droit
    ORBi View his publications on ORBi
  • Delatte, Alain Ethias
  • Total number of views 72
  • Total number of downloads 0










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