FastPost Express helps leading Mauritius insurer deliver IFRS17 compliance

London. 13th May 2021: Swan, one of Mauritius’s largest insurers has selected Legerity’s FastPost Express for IFRS17 solution to help it transition to the new International Financial Reporting Standard (IFRS17). The new standard takes effect from January 2023 and is one of the most significant changes to accounting in the insurance sector in years.

FastPost Express for IFRS17 is a third-generation accounting rules cloud platform. SaaS delivered with best practice, out of the box configuration, which provides a fast and effective route to deliver this new complex accounting standard for all sizes of life, general and reinsurance firms.

Karine Morel, Senior Manager – Group Finance at Swan commented:  “When reviewing solutions in the market we identified Legerity FastPost as the most complete and flexible solution to address our IFRS17 needs. It will also help us to widen our vision for finance transformation. Legerity quickly established itself as a trusted partner, committed to our success, which was an important consideration in selecting the right vendor.”

Jeremy Wood, CEO at Legerity, adds: “We are delighted that Swan has selected Legerity FastPost for IFRS17. Swan is one of the leading financial solutions providers in Mauritius, with an impressive management team and commitment to a digital future. We look forward to a successful and long-term business partnership.”

Notes to Editors

About Swan

Swan provides a full range of non-banking financial solutions, including general insurance, life assurance, pension & actuarial services, investment advisory, wealth management and securities trading for corporate clients and individual customers.

For the past 160 years, Swan has been at the service of generations of fellow Mauritians, offering innovative and robust protection & wealth management solutions, always satisfying the multi – faceted needs of its customers.

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About Legerity

Legerity helps clients deliver digital finance transformation and complex accounting change, cost effectively and with minimum disruption.

Legerity’s FastPost Express is an enterprise grade, SaaS-delivered IFRS17 solution. It covers all the finance aspects of IFRS17 from receipt of cashflows, calculating the contractual service margin (CSM) through to the posting of journals and production of IFRS17 reports and disclosures. FastPost Express is not just about compliance, it lays down the foundation for finance transformation, business agility and is future-proofed for digital insurance products.

Legerity was awarded the IFRS17 Solution of the Year award in February 2021 by InsuranceERM, a highly prestigious industry award that is subject to a rigorous selection process by an independent team of industry expert judges from across Europe and the UK.

Legerity was also named a Category Leader in the Chartis Research report, “IFRS17 Technology Solutions: Market and Vendor Landscape 2020,” a report that assesses leading vendors of IFRS 17 solutions.