Meet the Person

Vassiliki Kostaki

Vassiliki Kostaki

Vassiliki Kostaki

Chief Financial Officer
Groupama Asfalistiki







One of the major challenges for insurance industry is the implementation of the new international accounting standard for insurance contract ( IFRS17) from 01/01/2023.

The new regime has massive impact as it changes fundamentally the landscape of financial statements The implementation approach we followed ensures a smooth transition to the new regime and safeguard against unexpected financial impacts (e.g. unwanted result volatility).

Further although IFRS 17 is a regulatory challenge it served as a driver for business transformation and gave us the opportunity to improve finance & actuarial processes, and leverage on the Data & Systems implementation to deliver improved management information and enhance decision making.