China Life Asset Management Selects Markit for Enterprise Data Management
Local presence, implementation record and insurance asset management credentials were deciding factors
LONDON & NEW YORK--(BUSINESS WIRE)--Markit, a leading, global financial information services company, today announced that China Life Asset Management Company (CLAMC) has selected Markit’s enterprise data management (EDM) platform. The platform will act as a central hub for all of CLAMC’s securities, pricing, positions and transaction data. After a competitive pitch involving an extensive list of international and local EDM vendors, Markit’s implementation record stood out as did its ability to meet CLAMC’s broad set of needs.
“When we started our operations in Asia, we committed for the long term and we are delighted to be working with such a prestigious financial institution in China.”
“This is a significant contract to win in the Chinese market. Our insurance asset management credentials, experience with the software platforms used by CLAMC and local presence were deciding factors in our successful bid,” said Daniel Simpson, managing director and head of enterprise software at Markit. “When we started our operations in Asia, we committed for the long term and we are delighted to be working with such a prestigious financial institution in China.”
China Life Asset Management Company is among the first insurance asset management companies founded in China. Co-funded by China Life Insurance (Group) Company and China Life Insurance Company Ltd, CLAMC has USD 300 billion in assets under management and is the largest institutional investor in China’s capital markets.
Notes to Editors:
Markit is a leading global diversified provider of financial information services. We provide products that enhance transparency, reduce risk and improve operational efficiency. Our customers include banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies. Founded in 2003, we employ over 3,000 people in 11 countries. For more information, please see www.markit.com.
About China Life Asset Management
China Life Asset Management Company is among the first batch of insurance asset management companies founded in China. Co-funded by China Life Insurance (Group) Company and China Life Insurance Company Ltd, With 300 billion USD in assets under management, CLAMC is also the largest institutional investor in China’s capital market. China Life Insurance (Group) Company is the largest state-owned insurance enterprise of China, and ranked among the top 500 worldwide in consecutive years by the Fortune Magazine and World Brand Lab separately. China Life Insurance Company Ltd is the first insurance company tri-listed in New York, Hong Kong, and Shanghai stock markets, and currently also the largest life insurer by market value.