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Insurance

IFRS 17 changed how every insurer in Botswana measures and presents its business. We help insurers, brokers and medical aid funds implement the standard, meet NBFIRA requirements and explain the results to boards.

Talk to us about your insurance business(+267) 73 608 337
phiri@bathoanalytica.com

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Where the numbers get difficult

  • IFRS 17 measurement models (GMM, PAA, VFA), contractual service margin and transition
  • Reinsurance contracts held and their separate presentation
  • NBFIRA solvency, capital adequacy and statutory returns
  • Claims reserving, IBNR and actuarial liaison
  • Premium income recognition, broker commissions and policyholder tax
  • Investment accounting under IFRS 9 for the asset side of the balance sheet

What we do for insurance clients

  • IFRS 17 implementation support, accounting policy papers and disclosure templates
  • Annual financial statements for insurers, brokers and medical aid funds
  • Internal audit of claims, underwriting and reinsurance processes
  • Fraud investigations into claims and broker misconduct
  • Tax computations, VAT on insurance services and withholding tax on reinsurance premiums
  • Annual report publishing with IFRS 17 analysis for stakeholders

How we work

Every engagement starts with a written scope and fee. Work is led by a Chartered Accountant or Certified Internal Auditor who has worked in your sector, and reports are written for the people who have to act on them: owners, boards, lenders, regulators or auditors.

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