Atlas Insurance Signs Landmark Deal with Prima Consulting to Embrace IFRS 17 Transformation with Delta Software
Atlas Insurance Limited announces its partnership with Prima Consulting to acquire the cutting-edge Delta IFRS 17 software, marking a pivotal moment in the insurance industry.
- (1888PressRelease) December 05, 2025 - Lahore, Pakistan: Atlas Insurance Limited, a leading insurance provider in Pakistan with a rich heritage, has signed a groundbreaking agreement with Prima Consulting, a prominent financial and risk management consultancy firm.
This strategic partnership marks a significant step forward for Atlas Insurance as they prepare to adapt to the upcoming implementation of IFRS 17 regulations seamlessly.
The agreement centers on acquiring Prima Consulting's innovative Delta IFRS 17 software, a comprehensive solution designed for the insurance industry, empowering companies to navigate the complexities of IFRS 17.
Equipping for Transparency with IFRS 17
The Securities and Exchange Commission of Pakistan (SECP) officially adopted IFRS 17, an international financial reporting standard, for insurance and takaful businesses.
Effective January 1, 2026, this adoption necessitates a shift in how insurance companies report their financials, emphasizing transparency and global comparability.
IFRS 17 requires insurers to reflect economic changes transparently in financial statements and provide improved insights into future profitability.
A momentous Signing Ceremony
Prominent figures from Atlas Insurance and Prima Consulting graced the momentous signing ceremony. Representing Atlas Insurance were:
Baber Mahmood Mirza - Chief Executive Officer
Muhammed Aasim Gul - Chief Financial Officer
Omer Yousuf - Vice President.
Prima Consulting's delegation comprised:
Sumar Sayani - Director of AI and Tech
Ibrahim Ahmed Zahidie - Director of Financial and Accounting Advisory
Atlas Takes the Lead in Transformation
Atlas Insurance's adoption of Prima Consulting’s Delta IFRS 17 software signifies their commitment to staying ahead of the curve in the evolving regulatory landscape.
By embracing Delta's capabilities, Atlas gains a powerful tool to:
Fully integrated solution that works on top of the Company's existing ERP.
Calculate all actuarial items required as per IFRS 17.
Estimate risk adjustment and discount elements.
Generate accounting entries for a comprehensive financial journal.
Export the full corporate ledger for complete financial reporting.
A comprehensive dashboard to view and manage Company performance
This comprehensive suite of functionalities equips Atlas to navigate the IFRS 17 transition smoothly and efficiently, ensuring accurate and transparent financial reporting.
Sumair Sayani, Director of AI and Tech at Prima Consulting, and Baber Mahmood Mirza, Chief Executive Officer of Atlas Insurance, inaugurate their strategic partnership in a landmark deal. The collaboration aims to embrace IFRS 17 transformation using Delta Software.
About Atlas Insurance Limited
Established in 1934, Atlas Insurance boasts a rich legacy as one of Pakistan's oldest insurance companies.
With Dr. Sir Allama Muhammad Iqbal as one of its founders, the company has transformed from its initial form as the Muslim Insurance Company to its current standing as a leading player in the non-life/general insurance sector under the Atlas Group.
Atlas offers a diverse range of insurance products catering to various customer needs.
Website: https://ail.atlas.pk/welcome
Contact: https://ail.atlas.pk/contact
About Prima Consulting
Prima Consulting is an inspirational financial and risk management consultancy that is changing the game for businesses across the Middle East and Pakistan.
With a team of dedicated actuaries, financial analysts, and data specialists with over 50 years of combined experience, Prima Consulting is committed to providing a unique blend of regional understanding and global best practices that inspire and empower their clients.
Their innovative Delta system is a comprehensive IFRS 17 implementation tool that is revolutionizing the Pakistani insurance market, setting a new standard for excellence in the industry.
Website:
https://primaconsulting.org
Contact:
https://primaconsulting.org/contact
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