Performance Improvement in Private Sector
PwC helped MS Reinsurance modernise and simplify its finance operations by redesigning core processes, implementing a standalone Oracle ERPM platform and reducing reliance on manual activity. The transformation accelerated decision-making, strengthened controls and enabled Finance to operate as a more agile, insight-driven partner supporting the business’s long-term growth.
MS Reinsurance (MSRe) was entering a period of strategic growth, but its finance operations were not keeping pace with the demands of the business. Month-end closes were taking almost 50% longer than the parent company’s expectation, while settlement delays and manual hand-offs created inefficiency and operational risk. The finance function also relied on a group-wide system that limited MSRe’s autonomy, slowed decision-making and constrained its ability to scale independently. With the organisation already modernising its underwriting and reinsurance operations, there was a clear risk that outdated finance processes would be embedded into the future architecture, perpetuating the very barriers the business was trying to remove.
PwC was engaged to help MSRe transform its finance performance, shorten the month-end cycle, reduce manual effort, and equip the finance team to provide timely, trusted insights to underwriting and client-facing colleagues. The programme also needed to establish a standalone finance platform that would give MSRe full ownership of its systems and support its long-term growth.
Working as a trusted adviser within a complex programme environment, PwC redesigned how finance information and processes were managed, creating a clearer, more consistent flow of work and eliminating unnecessary manual activity. Delivered alongside wider changes to MSRe’s core systems, this reduced duplication, improved accuracy and accelerated essential finance tasks, while also giving the finance team greater confidence in the reliability of their data.
To give MSRe full control of its finance operations, PwC implemented a dedicated instance of Oracle ERPM, separating the business from the group’s shared system, and removing dependencies that had previously slowed change and increased cost. Strong governance and close collaboration with finance, IT and third-party teams ensured that the transition was carefully sequenced, protecting business continuity while maximising performance gains. This disciplined approach was essential in an environment where multiple major change programmes were running concurrently.
Thanks to this work, MSRe now completes its month-end close in line with the parent company’s expectation. Manual effort across core finance processes has fallen significantly, releasing capacity for higher-value work. Settlement timeliness and operational efficiency have improved, and the finance team can now provide faster, more reliable insights to support underwriting decisions. The move to an independent platform has reduced complexity, strengthened controls and lowered ongoing finance and IT run costs, giving MSRe a more scalable foundation for future growth.
These improvements have delivered clear financial benefit. Annualised gains from capacity release and cost avoidance provide a multi-year ROI of approximately 2-3x, and mean the programme will pay for itself within two years. These results compare strongly with similar finance transformations in the insurance sector – particularly given PwC’s challenge of delivering the programme alongside a major underwriting system replacement.
Beyond the numbers, the transformation has strengthened MSRe’s confidence, collaboration and decision-making. Finance now operates as a more responsive, trusted partner to the business, with clearer ownership of processes and greater autonomy to adapt as the organisation grows. The improvements have been embedded into everyday operations, ensuring that MSRe continues to benefit from a simpler, more controlled and more efficient finance function.
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