Financial and actuarial issues are not only relevant for insurance companies. The valuation of provisions and financial instruments in particular is more complex today than ever before and requires specialised knowledge and an intra-disciplinary approach, as the methods must meet company and regulatory requirements.
At CENTURION, respected actuaries work and prepare actuarial reports in accordance with EStG, UGB, IFRS and US-GAAP, as well as actuarial reports for foreign companies in accordance with IFRS. Our service portfolio also includes the determination of severance payments, social plans and company-specific fluctuation evaluations.
IFRS 17 regulates the principles for recognition, valuation, disclosure and information for insurance contracts. The objective of IFRS 17 is the provision of relevant information by the accounting companies and thus to lead to a credible presentation of insurance contracts. IFRS 17 was already published in May 2017 and is mandatory for the first time for financial years beginning on or after 1 January 2023. CENTURION supports and advises you on the initial and subsequent application of IFRS 17.
At the beginning of 2016, Solvency II led to a fundamental reform of insurance supervisory law. The capital requirements of insurance and reinsurance companies were particularly affected, as the system for determining capital requirements was changed to a risk-based one. CENTURION has Solvency II experts with relevant professional experience in insurance companies and therefore offers you individual and practical advice.
Our consulting approach is intra-disciplinary, the CENTURION teams consist of actuaries as well as accounting-related specialists. We are happy to pass on this know-how to your staff within the framework of training courses, further education programmes and workshops. We come to you as qualified trainers and lecturers and teach practical topics such as Solvency II, IFRS 17, Fit & Proper, accounting of insurance companies, and much more.
CENTURION's activities also include actuarial modelling for life, health and accident insurance as well as the preparation and further development of actuarial tools and programmes. We rely on a combination of actuaries, industry experts and data scientists - our approach for your success.