Moody’s Analytics Launches RiskIntegrity™ IFRS 17 To Help Insurers Prepare for New Reporting Standard
Moody’s Analytics today launched RiskIntegrity™ IFRS 17, a cloud-ready solution that helps insurers report under International Financial Reporting Standard (IFRS) 17, the new standard governing insurance contracts. This new software will support insurers as they work to meet the 2021 implementation deadline for the standard.
RiskIntegrity IFRS 17 offers insurers an automated, secure, and flexible solution for managing a complex, data-intensive process and performing key calculations, helping to bridge actuarial and financial reporting functions. It integrates with the Moody’s Analytics AXIS™ actuarial system, and is fully compatible with other actuarial systems.
The software supports the needs of insurers to aggregate data and results across their organizations, including multi-level, multi-currency consolidation, and intra-group transactions, and offers the capability to operate across single or multiple locations. It covers multiple lines of business, including life, health, P&C, and reinsurance, delivering out-of-the-box capabilities that address key requirements of IFRS 17, such as contractual service margin (CSM) calculations, detailed movement analysis, general ledger posting and preparation, and data and workflow management.
“Under IFRS 17, financial reporting requires complex actuarial calculations to quantify balance sheet items and identify sources of profit and loss,” said Christophe Burckbuchler, Head of Insurance Strategy and IFRS 17 Solutions at Moody’s Analytics. “As a result, implementing IFRS 17 requires greater integration of actuarial and accounting systems, creating significant operational challenges related to data, modeling, governance, and auditability. RiskIntegrity IFRS 17 is an out-of-the-box solution built on next-generation technology, and covers the most stringent requirements of the standard. This technology, combined with our deep actuarial modeling and data processing expertise, can help accelerate insurers’ IFRS 17 projects ahead of the International Accounting Standards Board (IASB) deadline.”
Clients can choose from several deployment options for the RiskIntegrity IFRS 17 solution: software-as-a-service, private or public cloud, or on-premise installation. “Insurers are starting to embrace the opportunities afforded by new technologies, but also have to integrate new and existing systems”, added Burckbuchler. “We have designed the RiskIntegrity IFRS 17 software to ensure that firms can select the approach that best suits their situation.”
Click here to learn more about Moody’s Analytics IFRS 17 solutions.
About Moody’s Analytics
Moody’s Analytics provides financial intelligence and analytical tools supporting our clients’ growth, efficiency, and risk management objectives. The combination of our unparalleled expertise in risk, expansive information resources, and innovative application of technology helps today’s business leaders confidently navigate an evolving marketplace. We are recognized for our industry-leading solutions, comprising research, data, software and professional services, assembled to deliver a seamless customer experience. Thousands of organizations worldwide have made us their trusted partner because of our uncompromising commitment to quality, client service, and integrity.
Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO). MCO reported revenue of $4.2 billion in 2017, employs approximately 11,900 people worldwide and maintains a presence in 41 countries. Further information about Moody’s Analytics is available at www.moodysanalytics.com/.
Moody’s Analytics Communications
Tracey Scott, 044.207.772.5207
Moody’s Analytics Media Relations
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
PMI’s Mission Winnow Goes Full Throttle with Ducati Corse for 2019 MotoGP™18.1.2019 20:00 | Tiedote
Philip Morris International Inc. (PMI) (NYSE: PM) is pleased to announce that its Mission Winnow initiative is expanding in 2019 to include the Ducati Corse racing team. Mission Winnow is a PMI-led campaign to raise global awareness of our passion and determination to constantly improve and evolve, as well as highlight the power of science, technology and innovation to build a better future. PMI has partnered with Ducati Corse since 2002 and has extended the relationship for another three years until the end of 2021. As of the start of this year’s MotoGP season, the team will be officially known as Mission Winnow Ducati. Mission Winnow was first launched in October 2018 with Scuderia Ferrari Mission Winnow, which – like Ducati Corse – has a passion for innovation and a relentless drive to improve in the team’s pursuit of victory. Ducati Corse is one of the most inspiring and resilient teams in MotoGP, with a 70-year history in racing. Ducati fans form a passionate community who appreci
IFF’s Frutarom Division Completes Acquisition of 60% of Thailand-based Mighty18.1.2019 15:50 | Tiedote
Regulatory News: International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris:IFF) (TASE:IFF), announced that its Frutarom Division has completed the acquisition of 60% of the share capital of The Mighty CO. LTD. (“Mighty”), a leading savory solutions provider in Thailand, thus continuing its growth strategy in Southeast Asia. Amos Anatot, President of IFF's Frutarom Division, said, “The completion of this deal with Mighty underscores that the Frutarom division will continue on its growth strategy and pursue attractive companies that create new opportunities or build on current capabilities.” Mr. Anatot continued, “And in this case, we are helping to grow our capabilities in savory solutions – already an area of strength for legacy Frutarom, now IFF." Mighty, founded in 1989, develops, produces and markets reaction flavors, with particular expertise in savory solutions. The company’s portfolio includes flavors, seasoning blends, marinades, and specialty functional raw materials f
LTI Q3 FY19: Constant currency revenue growth up 6.1% QoQ and 20.6% YoY; Net Profit jumps 32.8% YoY18.1.2019 15:02 | Tiedote
Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a global technology consulting and digital solutions company, announced its Q3 FY19 results today. In US Dollars: Revenue at USD 346.9 million; growth of 5.6% QoQ and 18.2% YoY Constant Currency Revenue growth of 6.1% QoQ and 20.6% YoY In Indian Rupees: Revenue at Rs 24,729 million; growth of 6.1% QoQ and 31.3% YoY Net Income at Rs 3,755 million; growth of (6.2%) QoQ and 32.8% YoY “We are pleased to deliver another strong quarter with 5.6% QoQ growth in USD revenues. Our broad-based revenue growth, superior margin delivery and steady cash generation in Q3 is a testimony of our focused execution and client centricity. We are also thrilled to welcome Ruletronics to LTI family. Ruletronics enables businesses to transform and evolve digitally by providing innovative BPM and CRM solutions leveraging Pega Platform.” - Sanjay Jalona, Chief Executive Officer & Managing Director, LTI Recent Deal Wins Nets, the leading payments company in th
Schlumberger Announces Full-Year and Fourth-Quarter 2018 Results18.1.2019 15:00 | Tiedote
Schlumberger Limited (NYSE: SLB) today reported results for full-year 2018 and the fourth quarter of 2018. (Stated in millions, except per share amounts) Full-Year Results Twelve Months Ended Change Dec. 31, 2018 Dec. 31, 2017 Year-on-year Revenue $32,815 $30,440 8% Pretax operating income $4,187 $3,921 7% Pretax operating margin 12.8% 12.9% -12 bps Net income (loss) - GAAP basis $2,138 $(1,505) n/m Net income, excluding charges & credits* $2,261 $2,085 8% Diluted EPS (loss per share) - GAAP basis $1.53 $(1.08) n/m Diluted EPS, excluding charges and credits* $1.62 $1.50 8% Full-Year Consolidated Revenue by Area North America $11,984 $9,487 26% Latin America 3,745 3,976 -6% Europe/CIS/Africa 7,158 7,072 1% Middle East & Asia 9,543 9,394 2% Other 385 511 n/m $32,815 $30,440 8% North America revenue $11,984 $9,487 26% International revenue $20,446 $20,442 - North America revenue, excluding Cameron $9,668 $7,518 29% International revenue, excluding Cameron $17,675 $17,423 1% *These are non
FLIR Systems Awarded $89 Million Contract from French Armed Forces to Deliver Black Hornet Personal Reconnaissance System18.1.2019 14:00 | Tiedote
FLIR Systems, Inc. (NASDAQ: FLIR) announced today it has been awarded a contract from the French Defense Procurement Agency (DGA) in support of the French Operational Pocket Drone (DrOP) program. The contract has a ceiling value of $89 million to provide the FLIR Black Hornet® 3 nano-unmanned aerial vehicle (UAV) and Personal Reconnaissance System (PRS) to support French Armed Forces operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190118005085/en/ The French Armed Forces awarded FLIR Systems a contract to deliver the Black Hornet Personal Reconnaissance System for military operations. (Photo: Business Wire) The Black Hornet PRS is the world’s smallest combat-proven nano-Unmanned Aerial System (UAS) and is currently deployed in more than 30 countries. The Black Hornet enables the warfighter to maintain situational awareness, threat detection, and surveillance no matter where the mission takes them. Equipped with el
ISAE-SUPAERO Launches a New MOOC in the Field of Space and Aeronautics18.1.2019 11:00 | Tiedote
ISAE-SUPAERO, the world leader in aerospace engineering training has launched a new MOOC for the start of 2019: "DynaMOOC". “DynaMOOC”: understand and apply the fundamentals of structural dynamics The basic architecture of aerospace structures is generally founded on static criteria. The modern approach consists of integrating the dynamics not to certification but also to the fundamental design and specification of aerospace structures and light structures. Thus, all areas which involve structural works are affected: aircraft, vehicles, naval engineering and civil engineering. In-depth knowledge of the fundamentals of dynamics offers a new perspective on the classification and behavior of all mechanical systems. This MOOC goes back to the basics of solid dynamics applied to structural analysis. This four-week course is aimed at undergraduate students in mechanical or physical engineering who would like to comprehend the transition from statics to dynamics, as well as to structural engi
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme