PartnerRe Selects Clearwater for Investment Data Operations and Multi-Basis Accounting
BOISE, Idaho--(BUSINESS WIRE)--May 14, 2018--Clearwater Analytics ® announces today that PartnerRe has selected Clearwater’s web-based investment accounting and reporting solution to provide validated portfolio data, investment book of record accounting, and transparent real-time portfolio reporting.
PartnerRe is a global, diversified reinsurer active in major industries worldwide. The organization holds a diverse portfolio and has reporting requirements for multiple accounting bases.
Clearwater will automate the aggregation and reconciliation of PartnerRe’s investment data, and provide teams in a multitude of global locations access to timely and consistent portfolio information to drive greater transparency and insight. Given the global reach of PartnerRe’s business, the investment team required a multi-asset, multi-basis, and multi-currency solution. Clearwater was built with the flexibility to handle multiple currencies and multiple asset classes, and provides customized general ledger entries for investment reporting for any accounting base.
PartnerRe will also receive daily investment policy compliance monitoring and performance measurement through the Clearwater system.
PartnerRe Ltd. is a leading global reinsurer that helps insurance companies reduce their earnings volatility, strengthen their capital and grow their businesses through reinsurance solutions. Risks are underwritten on a worldwide basis through the Company’s three segments: P&C, Specialty, and Life and Health. For the year ended December 31, 2017, total revenues were $5.7 billion. At December 31, 2017, total assets were $23.0 billion, total capital was $8.2 billion and total shareholders’ equity was $6.7 billion. PartnerRe enjoys strong financial strength ratings as follows: A.M. Best A / Moody’s A1 / Standard & Poor’s A+.
About Clearwater Analytics
Clearwater Analytics® is the leading provider of web-based investment portfolio accounting, reporting, and reconciliation services for corporate treasuries, insurance companies, and investment managers. Clearwater aggregates, reconciles, and reports on more than $2.2 trillion in assets across thousands of accounts daily. For more than a decade, Clearwater has helped firms such as AIG, Mutual of Omaha, Arch Capital, Knights of Columbus, CopperPoint Mutual Insurance Company, The Main Street America Group, SBLI, C.V. Starr & Co., Sagicor, Wilton Re., and WellCare streamline their investment and accounting operations. Clearwater remains committed to continuous improvement and encourages insurers to rethink how they approach their investment accounting and reporting challenges.
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CONTACT: Clearwater Analytics
Alex Goochey, Content Managing Editor
KEYWORD: UNITED KINGDOM UNITED STATES EUROPE NORTH AMERICA IDAHO
INDUSTRY KEYWORD: TECHNOLOGY INTERNET SOFTWARE PROFESSIONAL SERVICES ACCOUNTING FINANCE INSURANCE OTHER PROFESSIONAL SERVICES
SOURCE: Clearwater Analytics
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PUB: 05/14/2018 07:00 AM/DISC: 05/14/2018 07:01 AM