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QBE Insurance Group chooses SimCorp Dimension for investment management

  • 17 February, 2007 14:59

<p>Sydney, February 16, 2007 –– SimCorp announced today that QBE Insurance Group Limited, Australia's largest international general insurance and reinsurance group, and a top 20 Australian listed company, has chosen SimCorp Dimension as the investment management system for its Group Investment Division, which manages investments worth over AUD 18 billion on behalf of QBE's operations in more than 40 countries.</p>
<p>SimCorp Dimension will provide a single central system for the Division's front-to-back operations covering portfolio administration and analytics, order management, compliance, risk management, performance attribution, settlement, accounting and reporting.</p>
<p>Commenting on the decision, Mark ten Hove, QBE’s Group General Manager, Investments, said that it was essential for QBE to have and maintain an investment management infrastructure with tools that would allow it to provide the highest level of service to its global operations.
"We selected SimCorp Dimension because it was a single system that could support the Division's entire operations. We saw SimCorp Dimension's superior fixed-income front-office functionality as an important factor, as was SimCorp's excellent reputation for implementation and support and its strong local presence."</p>
<p>"We are delighted that QBE, a global insurance organisation, has chosen to place its business with SimCorp." said SimCorp Asia Managing Director, Peter Hill. "We welcome QBE to our client community and we look forward to another successful project in the Asia Pacific region."</p>
<p>Enquiries regarding this announcement should be addressed to:
Nick Quin, Sales and Marketing Director, SimCorp Asia, +61 (0) 2 9241 4222
E: nick.quin@simcorp.com</p>
<p>Lachie Hill, Director, Lachie Hill Communications, +61 (0) 2 9555 4691
E: lachie@lhcomms.com.au</p>
<p>About SimCorp
SimCorp is a leading provider of highly specialised software and financial knowledge for the financial services sector and treasury departments within industrial companies. SimCorp has designed and developed its software in close collaboration with international financial services groups for more than 30 years. Its customers include international banks, insurance companies and investment managers. Headquartered and listed in Copenhagen (KFX:SIM), SimCorp employs more than 750 staff in international and regional financial centres across Asia Pacific, Europe and North America.</p>
<p>For further information visit www.simcorp.com.</p>

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