Bhavin Bhatt

I joined the firm in early 2019 to lead the insurance accounting advisory team and in particular the accounting aspects of the new insurance contracts standard, IFRS 17. I have over 15 years’ of extensive experience in accounting and advisory within financial services and of which the last 10 years have been working exclusively for the insurance sector. I am part of the firm’s IFRS 17 team developing market eminence activities.

I lead the accounting aspects of IFRS 17 for a number of insurance and reinsurance companies. I advise and support the assessment of IFRS 17 accounting methodology to inform solution design and implementation.

I have worked on a number of IFRS 17 and technical accounting projects for non-life insurance companies including major reinsurance companies, listed motor insurers and a listed run-off consolidator. This involves defining scope, deliverables, timescales and budgets. I provide technical accounting support to insurance clients for their complex and non-standard accounting transactions and day-to day financial reporting queries.

I also lead the IFRS 17 technology vendor initiative and support clients by explaining pros and cons of various IFRS 17 solutions available in the market.

IFRS 17 presents unique challenges to the motor insurance industry and keeping this in mind, I formed the IFRS 17 UK Motor Insurance Forum to discuss unique challenges faced by the motor insurance industry on implementing IFRS 17.

Prior to joining the firm, I was a director in the accounting policy team within a leading financial services firm, where I led and managed the detailed impact assessments for IFRS 9 and IFRS 17, focussing on accounting, and operational (Data, Systems and processes) gaps including development of a roadmap to implementation.

I also led the quality review of IFRS financial statements of various subsidiaries to ensure compliance with the requirements of IFRS.

Outside of work, I am an active runner and cyclist. I practice different types of yoga on a regular basis (Raj yoga, Hath yoga and laughter yoga to name a few).