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This presentation outlines some of the significant additional challenges in adopting IFRS 17 faced by insurers operating in developing countries as compared to those in developed countries. These challenges include setting discount rates in the absence of actively traded bond markets and the general lack of industry data to benchmark assumptions. Other problems include volatility arising from small datasets and the lack of reference materials dealing with developing market issues.
The presentation will also discuss some approaches that have been suggested to deal with these additional challenges.