London. 27th January 2022. Atlantic Union has selected Legerity’s FastPost Express for IFRS17 to help it achieve compliance with the new International Financial Reporting Standard (IFRS17). Legerity will work jointly with a team from EY on the implementation and project delivery of IFRS17; one of the most significant changes to accounting in the insurance sector in years.

Atlantic Union provides its clients more than 50 years with various services such as life insurance, non-life (P&C) insurance and health insurance. Atlantic Union is a major Greek insurance company that has a history in embracing changes and innovation.

“We needed an IFRS17 solution that supports all measurement models in a comprehensive format,” says Ioannis Lapatas, CEO at Atlantic Union. “FastPost Express offers this in a low-cost, highly efficient, configurable solution, with minimum data requirements. Legerity has proven to be a trusted partner, with extensive expertise, and we are confident their solution will scale with our company, meeting our future business needs.”

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

Jeremy Wood, CEO at Legerity adds “We are delighted to be working jointly with EY to help Atlantic Union deliver IFRS17 compliance. Atlantic Union is a fast-rising Greek insurance company with a commitment to modern technology and innovative insurance – two core principles underpinned by Legerity’s FastPost solution. We look forward to a successful long-term business partnership working on IFRS17 and future finance transformation programs.”

Konstantinos Nikolopoulos, Partner and CESA Actuarial Leader, EY says, “Legerity FastPost Express enables Atlantic Union to achieve IFRS17 compliance with a solution that brings long term value to the finance and business teams. EY have invested in a Center of Excellence for delivering FastPost projects.”

Notes to Editors

About Atlantic Union

Atlantic Union S.A. has a dynamic presence in the Greek Insurance Market for more than half a century with impressive shareholder and reinsurer co-operations even by international standards.

Among the shareholders is Basler since 1973, an insurance organization that is a member of the Swiss bank-insurance group Baloise and one of the 13 founding members of the Hellenic Association of Insurance Companies of 1907, with more than 120 years activity in the Greek market.

For the fifth year in a row, Atlantic Union S.A. is the most reliable insurance company in Greece regarding General and Life Insurance, with a 275.42% solvency rate as of December 31st, 2020 and is profitable for 33 consecutive years, while increasing equity at the same time. The company has invested in developing modern computer applications, as well as, innovative insurance products such as solutions for insuring electric vehicles, bicycles, drones and environmental liability, among others.

Atlantic Union’s insurance solutions are trusted by more than 400.000 people while maintaining the commitment for a friendly, personal and reliable approach towards clients, partners and staff.

For additional information, please visit https://www.atlantiki.gr/

About Legerity

Legerity helps clients deliver digital finance transformation and complex accounting change. FastPost Express is an enterprise-grade, SaaS-delivered IFRS17 solution that won InsuranceERM’s IFRS17 Solution of the Year award in February 2021.

www.legerityfinancials.com

About EY

EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets.

Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today. For further information please visit.

www.ey.com

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