Educational Series

IFRS 17 Explained

A multi-episode series breaking down IFRS 17 / PSAK 117 for Indonesian insurers — from first principles to practical implementation, with step-by-step numerical examples.

IFRS 17 PSAK 117 GMM / BBA PAA CSM OJK · IAI · IASB
3
Episodes Available
∞
More Coming
Jan 2025
PSAK 117 Effective
Episodes

The Series

Each episode focuses on one key concept — concise, visual, and grounded in the actual IFRS 17 / PSAK 117 standard.

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PDF format · IFRS 17 / PSAK 117
Download All Episodes (.zip)
Episode
01
Available
What's Inside the LRC?
A Step-by-Step Breakdown — PVFCF · Risk Adjustment · CSM decoded for Indonesian insurers
The Liability for Remaining Coverage (LRC) is the cornerstone of IFRS 17. This episode breaks down its three building blocks under the General Measurement Model (GMM/BBA): Present Value of Future Cash Flows, Risk Adjustment, and the Contractual Service Margin — with a full numerical example using a 20-year whole life policy.
LRC Formula PVFCF Risk Adjustment CSM at Inception Onerous Contracts GMM / BBA PSAK 117
  PDF · 10 pages · IASB Para 32–52
Episode
02
Available
How Does the CSM Unwind?
Decoding CSM Release via Coverage Units — 5-Part Roll-Forward Mechanics
The $120,000 CSM locked in at inception — but how does it actually reach the P&L over 20 years? This episode decodes the 5-part CSM roll-forward, coverage units, and the amortization ratio that systematically releases deferred profit as insurance services are delivered.
Coverage Units CSM Roll-Forward Amortization Ratio Interest Accretion Future vs Past Service IFRS 17 Para 44–45
  PDF · 10 pages · IASB Para 44–45, B119
Episode
03
Available
What Hits the CSM vs P&L?
The FCF Routing Rules Decoded — CSM Subsequent Measurement
Every FCF change must be classified: future service → adjusts CSM; past/current service → P&L directly. This episode decodes the four types of FCF changes, the Loss Component mechanics, and the key asymmetry rule that determines P&L volatility under IFRS 17.
FCF Routing Rules Future vs Past Service Loss Component P&L Smoothing Onerous Contracts IFRS 17 Para 44(c)
  PDF · 10 pages · IASB Para 44(c), B96–B100
Episode
04
Coming Soon
IFRS 17 Discount Rates
Top-Down vs Bottom-Up Approaches — Illiquidity Premium & PSAK 117 Application
Choosing the right discount rate is critical under IFRS 17. This episode explains the top-down and bottom-up approaches, the illiquidity premium, and how Indonesian insurers apply these under PSAK 117 — with practical examples for life and general insurance.
Top-Down Bottom-Up Illiquidity Premium Risk-Free Rate
  In preparation
Coming Soon
About This Series

Why This Series?

IFRS 17 is one of the most complex accounting standards ever issued. This series aims to make it accessible — one concept at a time.

🎯
Built for Indonesian Insurers
Every episode is grounded in PSAK 117 — Indonesia's adoption of IFRS 17 — effective 1 January 2025 and mandated by OJK for all insurers.
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Step-by-Step with Numbers
Each episode includes a full numerical example — not just theory. Real calculations, real formulas, real IFRS 17 paragraph references.
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Sourced from Official Standards
All content references IASB (2017/2023), IAI PSAK 117, OJK regulations, IFoA working papers, and EY research — no guesswork.
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Written by a Practitioner
Created by Komang Agus Arta Wijaya (Gusta) — Actuarial Officer at Heksa Solution Insurance, actively implementing IFRS 17 in production.