Case Study: IFRS achieves a consistent IFRS 17 implementation with VMA Group

Maintaining momentum for the stop start IFRS 17 implementation

VMA Group's client, a global primary insurance group, faced the complex challenge of implementing the IFRS 17 accounting standard. This required a complete re-evaluation of their data infrastructure, internal processes, and governance frameworks across a diverse network of international companies.

VMA Group worked with the client’s integrated accounting and IT project team to implement a consistent interpretation of the standard, leveraging the Willis Towers Watson ResQ platform. This provided a unified framework for reserving and supported the necessary calculation approaches. After this foundation was set, the client was well ahead of schedule, expecting to complete model and calculation test runs for IFRS 17 long before the revised 2022 deadline.

IFRS