SimCorp partners with insurance group Athora Holdings

Investment management solutions provider SimCorp has entered into an agreement with a subsidiary of an insurance and reinsurance group, Athora Holding Ltd with an aim to enhance the latter’s back-office operations with its accounting functionality. Athora will join the supplier’s group of clients in a bid to facilitate growth and adaptiveness to the dynamic market.

Patrick O’Grady, Director Finance Strategy, Investments & Implementation at Athora commented,  “We have chosen SimCorp Dimension because we see it as the best solution on the market to provide the level of automation, flexibility and functional coverage for which we have been looking. With its integrated view across various accounting frameworks such as IFRS, local and groupwide accounting standards, and dedicated regulatory monitoring, SimCorp Dimension delivers a significantly more efficient way to operate. Opting for SimCorp Dimension as-a-service improves our operational efficiency and supports our growth ambitions.”

SimCorp states that the agreement will assist Athora in enhancing its investment operation, expand its scope of automation across invested asset classes and enable operational efficiencies. The insurance group is also expected to leverage SimCorp Dimension’s integrated Investment Book of Record (IBOR) and Accounting Book of Record (ABOR) with an aim to provide a basis for fund administration, collateral management etc, which is expected to allow Athora to manage the impact of the growing regulatory compliance on European insurance firms.

Hans Otto Engkilde, Senior Vice President and Managing Director, UK, Northern Europe & Middle East, SimCorp said, “We are delighted to welcome Athora to the SimCorp community, and to the growing number of SimCorp Dimension as-a-service clients. Consolidating investment operations tackles the operational complexity that exists in the buy-side today, both in terms of operations but also challenges posed by external events, such as regulation and the search for liquidity. By cutting the cost of infrastructure and taking advantage of agile operational experience, Athora will benefit from the scalability needed to competitively support its growth strategy.”

Recently, SimCorp signed a strategic partnership with Edmond de Rothschild Asset Management (EdRAM) to provide its solution SimCorp Dimension as a foundation for third-party asset manager solution EOS Portfolio Management.

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