SGV presents IFRS 4 Phase II Exposure Draft to ASP

Assurance partners Mike Sabado and Lucy Chan presented the Exposure Draft on IFRS 4 Phase II to the Actuarial Society of the Philippines (ASP) during its Annual National Convention at Fort Ilocandia in Laoag on November 12, 2010. Mike presented the highlights of the provisions of the exposure draft while Lucy discussed its business and financial implications as well as the conversion challenges that the industry will face once the exposure draft is finalized.

The presentation was followed by a lively discussion with the actuaries on the local implementation issues and insights on how the actuarial profession and the industry should prepare for these challenges.