Wolters Kluwer Financial Services announced today that Swiss Reinsurance Company Ltd (Swiss Re), has selected its Summix Credit Risk solution. The Swiss Re Group is a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer. In support of an updated target operating model for its credit risk management, Swiss Re has chosen Summix Credit Risk. The new system will provide credit exposure analysis, aggregation and reporting as well as credit limit management and monitoring across its global operations.
"Risk Management systems need to keep pace with the changing demands of internal and external stakeholders," said Kanwardeep Ahluwalia, head of Financial Risk Management and recently appointed CRO Reinsurance EMEA at Swiss Re. "The expertise demonstrated by Wolters Kluwer Financial Services during the proof of concept and detailed workshop sessions gives me confidence they can meet our requirements for transparency, functionality and simplicity at a reasonable cost."
"Swiss Re is such a major participant in this market and for them to select our credit risk component of Summix is a clear signal that we are one of a select few trusted solution providers in this space," said Raffi Festekjian, CEO of Wolters Kluwer Financial Services' Finance, Risk Compliance unit. "During the process, we were able to demonstrate expert knowledge and understanding of how to adapt our solution to Swiss Re's desired strategic results and expectations."
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides more than 15,000 customers worldwide with risk management, compliance, finance and audit solutions that help them successfully navigate regulatory complexity, optimize risk and financial performance, and manage data to support critical decisions. With more than 30 offices in 20 countries, our prominent brands include: Summix®, FRSGlobal, FinArch, ARC Logics®, TeamMate®, Bankers Systems, VMP® Mortgage Solutions, AppOne®, GainsKeeper®, Capital Changes, NILS®, AuthenticWeb and Uniform Forms. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and solutions provider with annual revenues of (2012) €3.6 billion ($4.6 billion) and approximately 19,000 employees worldwide.
About Swiss Re
The Swiss Re Group is a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer. Dealing direct and working through brokers, its global client base consists of insurance companies, mid-to-large-sized corporations and public sector clients. From standard products to tailor-made coverage across all lines of business, Swiss Re deploys its capital strength, expertise and innovation power to enable the risk-taking upon which enterprise and progress in society depend. Founded in Zurich, Switzerland, in 1863, Swiss Re serves clients through a network of over 60 offices globally and is rated "AA-" by Standard Poor's, "A1" by Moody's and "A+" by A.M. Best. Registered shares in the Swiss Re Group holding company, Swiss Re Ltd, are listed on the SIX Swiss Exchange and trade under the symbol SREN. For more information about Swiss Re Group, please visit: www.swissre.com or follow us on Twitter @SwissRe.
Contacts:
Wolters Kluwer Financial Services
Jennifer Marso, +1 612-852-7912
Vice President, Corporate Marketing Communications
Jennifer.marso@wolterskluwer.com
On Twitter: @JenniferMarso
or
Lauren Dearmer, +44 207 539 6525
Corporate Communications Manager
Lauren.dearmer@wolterskluwer.com
On Twitter: @LDearmer
