December 18, 2018
Moody’s Analytics, a leading provider of financial intelligence, announced today that its technology has been selected by Belfius, a major bank insurer in Belgium. Belfius is using the Moody’s Analytics RiskIntegrity™ IFRS 17 solution to make the transition from their current insurance accounting frameworks to the new International Financial Reporting Standard (IFRS 17) that becomes effective for the 2022 reporting year.
The Moody’s Analytics RiskIntegrity IFRS 17 solution helps insurance entities of any size to meet the new reporting challenges. It integrates seamlessly with existing infrastructure, connecting data, models, systems, and processes between actuarial and accounting functions.
“Our decision to work with Moody’s Analytics followed an extensive trial of the Moody’s Analytics RiskIntegrity IFRS 17 solution to prove it was the appropriate solution to integrate with our current actuarial and accounting systems,” said Lies Gevaert, Chief Accountant at Belfius. “We are confident that Moody’s Analytics has the expertise and experience required to help us implement IFRS 17.”
“This new relationship furthers our commitment to the global insurance market, and in particular for the IFRS 17 accounting standard, a new and challenging area for insurers,” said Christophe Burckbuchler, Head of Insurance Strategy and IFRS 17 Solutions at Moody’s Analytics. “We have already successfully collaborated with Belfius on several projects and we are delighted to be supporting Belfius with their IFRS 17 project ahead of the International Accounting Standards Board (IASB) deadline.”
Click here to learn more about the Moody’s Analytics RiskIntegrity IFRS 17 solution.
About Moody’s Analytics
Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit www.moodysanalytics.com.
Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO). Moody’s Corporation reported revenue of $4.2 billion in 2017, employs approximately 12,600 people worldwide and maintains a presence in 42 countries.