WEBVTT

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We have direct insurance companies and re-insurance companies within our group, so we have a lot of intercompany business 

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and this is a big challenge for us and for that reason we need the support of CCH Tagetik system, the integrated IC cockpit is very helpful for us

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to make all the IC reconciliations between the different companies worldwide. We have to fulfill the requirements for the regulatory reporting, the so called Solvency II, 

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and at the moment, a very big project in the insurance sector, is the implementation of IFRS 9 and IFRS 17. We use the management and the statutory 

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consolidation of the IFRS for the quarterly and annual reports and this is also very complex in our group, we have a very complex structure 

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with a lot of sub-holdings, we have minority interests, equity consolidation, IFRS 5 declarations, deconsolidation 

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industry consolidation, mergers, a lot of different issues quarter-to-quarter and CCH Tagetik supports us a lot by doing this stuff.

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We're very impressed in working toghether with CCH Tagetik, I think we achieved a lot of improvements, I also worked with other systems like SAP

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and Oracle Hyperion but I've never had something similar like this connection to CCH Tagetik. With CCH Tagetik we can deliver the figures

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on time and we also have a good quality due to the automated processes integrated in the system but also due to the great 

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validations and checks which are possible in CCH Tagetik ... it's very good so we can guarantee that even the preliminary figures have a very good quality, so you can trust 

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in these figures and it is very important for our CFO. I would definitely recommend CCH Tagetik, we're convinced of and satisfied with CCH Tagetik!