Aegon UK, a leading savings, protection and investment service provider
has selected Legerity Limited’s FastPost IFRS 17 solution to help it
transition to the new International Financial Reporting Standard (IFRS
17). The new standard takes effect from January 2022 and is one of the
most significant changes to accounting in the insurance sector in years,
Legerity will provide Aegon UK with its third generation FastPost
Accounting Rules and Sub-Ledger solution for implementation as an
integrated part of its overall IFRS 17 accounting and reporting process.
David Wilson, IFRS 17 Programme Director at Aegon UK, comments, “IFRS
17 is a complex standard impacting multiple stakeholders including
Actuarial, Finance and IT. There is no one size fits all solution for
IFRS 17 so it is important that we selected best in class technology
that can seamlessly integrate into our end to end financial reporting
solution. After a detailed market and product evaluation process we have
selected Legerity FastPost. We have been greatly impressed by the
Legerity team and their FastPost accounting rules and sub-ledger
technology.”
Legerity FastPost has also been selected by other Aegon regions for
implementation as part of the Aegon Group’s IFRS 17 global programme.
Jeremy Wood, CEO and Founder of Legerity, adds “We are delighted to
have entered into this agreement to be a key solution provider to
Aegon’s future financial reporting. Aegon is a forward looking firm
committed to market innovation and a digital future. It is great
testament to our technology, team and achievements to have been selected
by Aegon”.
Notes to Editors
About Aegon
• In the UK, Aegon offers retirement, workplace savings and protection
solutions to well over three million customers and employs approximately
3,450 staff. More information: www.aegon.co.uk
• As an international life insurance, pensions and asset management
group based in The Hague, Aegon has businesses in over twenty five
markets in the Americas, Europe and Asia. Aegon companies employ over
28,000 people and have millions of customers across the globe. Further
information: www.aegon.com
About Legerity
Legerity helps clients deliver complex accounting change. Legerity’s
FastPost Accounting Rules platform provides a 3rd generation
solution that meets the new IFRS 9, 15, 16 and 17 accounting standards
in a fast and non-disruptive manner.
IFRS 17 is an opportunity to go beyond just compliance. Legerity
FastPost standardises data across the enterprise to deliver real
benefits: simplified processing, improved reporting, faster close,
reduced cost and future-proof scalability.
Available as a SaaS cloud-based fully managed service, FastPost provides
highly scalable and on demand performance, giving firms’ confidence that
IFRS accounting data is available when required.
For further information please visit www.legerityfinancials.com
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