NEW YORK--(BUSINESS WIRE)--SimCorp, a leading provider of investment management solutions and services for the global financial services industry, announced today that Norwegian KLP Kapitalforvaltning AS (part of Norway’s largest life insurance company), has extended its SimCorp Dimension license agreement to cover the entire front office area.
A SimCorp client since 1998, KLP Kapitalforvaltning manages in excess of USD 52bn (NOK 326bn) assets in a broad range of fixed income and equity portfolios on behalf of the insurance business in the KLP Group and other customers through the 34 KLP funds.
KLP Kapitalforvaltning selected the SimCorp Dimension Front Office Suite following a competitive tender process. One of the key deciding factors was SimCorp Dimension’s ability to consolidate data from disparate sources onto a single platform, thus streamlining workflows and strengthening compliance handling.
“Choosing the SimCorp Dimension Front Office Suite is an important strategic decision for us. We are confident that once implemented the front office modules will help us to further automate and optimize our investment processes, thereby managing both risk and cost more efficiently for the benefit of our clients,” says Håvard Gulbrandsen, Chief Executive Officer at KLP Kapitalforvaltning. “In particular, the straight-through-processing capabilities, not just within the front office, but also to middle and back office processes will result in increased efficiency gains.”
Commenting on the agreement, Lau Harting Jeppesen, Vice President of SimCorp Nordic said: “KLP’s choice to expand their license agreement with SimCorp is further testament that we provide a cutting-edge solution that meets the cross-functional needs of the front office. Not only does SimCorp offer innovative solutions for the back and middle office, more importantly we cover the entire value chain, providing a true enterprise solution. We look forward to continuing our successful partnership with KLP.”
Since 1971, SimCorp has been providing investment and portfolio management software and services to the world’s leading investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds, and wealth managers. Based on its world-class software platforms, SimCorp Dimension and SimCorp Coric, SimCorp provides global financial organizations with the tools they need to mitigate risk, reduce cost, and enable growth. Listed on the NASDAQ OMX Copenhagen, SimCorp is a global company, regionally covering all of Europe, North America, and Asia Pacific. For more information, please visit www.simcorp.com.
KLP (Kommunal Landspensjonskasse) is Norway's largest life insurance company, owned by the customers within the public sector occupational pensions. The group delivers safe and competitive financial and insurance services to the public sector, enterprises associated with the public sector and their employees. The KLP Group has total assets of USD 71 bn (NOK 442 bn). KLP Kapitalforvaltning AS, wholly owned by KLP, is with its 60 employee's one of Norway's leading asset managers. For more information, please visit www.klp.no