TPL General Insurance, a leading insurer in Pakistan, has signed an agreement with Prima Consulting to implement Delta IFRS 17 software. This strategic partnership enables TPL General Insurance to effectively comply with the upcoming IFRS 17 accounting standard.
Karachi, Pakistan — 8th January 2024 — TPL General Insurance, a leading name in the Pakistani insurance industry, has signed with Prima Consulting to implement the state-of-the-art Delta IFRS 17 software.
This strategic collaboration marks a major milestone in advancing insurance accounting and financial reporting in line with the IFRS 17 standards, reinforcing TPL General Insurance's leadership in innovation and compliance.
Delta IFRS 17 software, an end-to-end IFRS 17 solution, is designed to streamline complex insurance accounting requirements.
It simplifies compliance by generating cashflows, calculating IBNR reserves, estimating risk adjustment, and producing IFRS 17-specific general ledgers.
Its analytics dashboard provides clear operational insights, while personalized management reports enable informed decision-making.
Aligned with the Securities and Exchange Commission of Pakistan's (SECP) notification, IFRS 17 adoption is set to take effect on January 1, 2026, ensuring improved transparency, global comparability, and economic reflection in financial statements.
Delta IFRS 17 software equips insurers like TPL General Insurance to meet these standards seamlessly.
The signing ceremony, held at TPL General Insurance's corporate office, was attended by prominent leaders from both organizations:
Integrating Delta IFRS 17 software ensures compliance with evolving global standards, enhances financial reporting, and reinforces TPL General Insurance's reputation for innovation and customer-centric services.
TPL General Insurance is Pakistan's premier insurance provider, offering various services, including auto, health, travel, and cyber-risk insurance.
Recognized for its innovative solutions, TPL General Insurance was the first in Pakistan to sell general insurance products directly to consumers.
With an AA (IFS) credit rating from PACRA and cutting-edge technology like the TPL Mobile App, the company continues to redefine the insurance experience.
Prima Consulting specializes in financial and risk management solutions, delivering actionable insights and tailored technology services to businesses across Pakistan and the Middle East.
With a team of experts holding over 50 years of combined experience, Prima Consulting offers consultancy, managed services, and advanced technology solutions such as the Delta IFRS 17 software.
Their commitment to excellence and industry expertise makes them a trusted partner for businesses navigating complex financial landscapes.
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