Swiss Re Asset Management (SRAM), the proprietary investment arm of Swiss Reinsurance, a leading global reinsurer and the world`s largest life and health reinsurer, has deployed DST International`s HiPortfolio and OpenMessenger throughout its worldwide investment operations.
The system had already been deployed in its Johannesburg, Zurich, London, Dublin, Munich, Hong Kong and Melbourne offices when SRAM, which has more than CHF 80 billion under management, decided to activate DSTi`s HiPortfolio in its North American operations.
William Joubert, sales manager at DST International South Africa (DSTi), says DSTi, which specialises in business solutions for the investment management industry, developed many modules to meet the specific legal and technical requirements for each of Swiss Re`s locations.
"The new modules calculate and format Swiss Re`s financial exposure on a quarterly and year-end basis for the Swiss Re entities that are covered under various legislation throughout the world," Joubert says.
Four new modules were developed to address North American legal reporting requirements. To accommodate Annual Statement Schedule D, used by all US insurance companies to report investments, DSTi developed three modules. A separate module was developed for Canadian Tax Reporting.
The global approach integrates SRAM accounting and back-office systems. Any new systems can be interfaced more efficiently for SRAM globally and are available to all the investment centres.
HiPortfolio offers institutions added customisation opportunities through its a modular design. Each module delivers processing support for a specific category of investment instrument or investment business function. Multinational organisations find the system takes cognisance of global and local accounting requirements. Accounts can therefore be centrally consolidated while still supporting the demands of regional offices.
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