The leading web resource for financial technology
   
bobsguide.com

MetLife Signs for Kamakura Basel ll Solution

email this aricle - MetLife Signs for Kamakura Basel ll Solution - Honolulu - 10 April 2007 print this article - MetLife Signs for Kamakura Basel ll Solution - Honolulu - 10 April 2007
One of World’s Largest Life Companies Expands KRM Installation

Kamakura Corporation reported today that MetLife, one of the ten largest life insurance companies in the world, has signed an agreement with Kamakura to extend its enterprise-wide Kamakura Risk Manager [KRM] software implementation to include calculation and reporting of Basel ll capital requirements. The Company, which has over $527 billion dollars in assets, has been relying on the KRM solution in its investment department and its affiliated banking company since 2003. MetLife is also a subscriber to the Kamakura Risk Information Services default probability and correlation service.

“MetLife has steadily increased its reliance on Kamakura Risk Manager since the initial installation in 2003,” said Rich Owens, Vice President in the Portfolio Management Department at MetLife. “The integration of credit risk, market risk, and asset/liability management that Kamakura offers is unique in the industry. That integrated view of risk is something we are seeking to take full advantage at MetLife Investments.”

“MetLife is both one of the largest insurance companies in the world and one of the largest bank holding companies in the United States.” said Warren Sherman, Kamakura President and Chief Operating Officer. “The blurring of the boundaries within the financial services industry makes it essential to see and analyze the impact of changes in the economy on all assets and liabilities in all business lines, both for shareholder value creation and for best practice corporate governance. We are honored to have the opportunity to work even more closely with MetLife in the years head.”

Kamakura has several of the world’s largest insurance, guarantee, and reinsurance companies as clients.

Comments (0)

No one has commented on this yet. Be the first!
Add your comment - Max 1000 characters used
More news

More from this company