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welcome to this webcast on ifrs 17 the new accounting standard for insurance contracts today we will be providing a basic overview of recognizing the contractual service margin in profit or loss the contractual service margin is one of the drivers of the insurance service result for an insurer this webcast is part of the series of materials that the international accounting standards board is producing to support the implementation of the new standard this webcast series aims to provide a basic introduction into various aspects of ifrs 17. my name is laura kennedy and im an assistant technical manager on the insurance contracts project my name is joanna you and im a senior technical manager on the insurance contracts project before we start as usual the views expressed in this presentation are our own and not necessarily those of the international accounting standards board or of the ifrs foundation a copy of the slides used in this presentation is available for download via the webs