Media Sovereign Credit Risk: A Life Insurance & Banking Perspective

Sovereign Credit Risk: A Life Insurance & Banking Perspective

uploaded May 11, 2023 Views: 61 Comments: 0 Favorite: 2 CPD

Life Insurance: This session will start off by introducing the objectives and approach of the Actuarial Society of South Africa's Sovereign Credit Risk Working Group. The insights gained by the working group with regard to global sovereign credit events and practices in terms of managing this risk will be shared. Lastly, the session will touch on how South African sovereign credit risk is impacting IFRS17. 

Life Ins Teaser: In certain countries Sovereign Credit Risk is not only theoretical nor immaterial, but rather a real and material risk to insurers. However, in most of these countries, quantifying and managing this risk is not straightforward. This session aims to provide insurers with some insights into how a sovereign credit risk event might unfold and consequently also how this risk can be managed. Furthermore, it will touch on how sovereign credit risk is being considered in IFRS17 in the South African market. 

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