HONOLULU, October 30, 2001-- Honolulu-based Kamakura Corporation announced today that Korea’s First Fire & Marine Insurance Co. ("FFMIC") has licensed Kamakura’s market risk software suite Kamakura Risk Manager-var.FFMIC is the sixth largest property and casualty insurance company in Korea.Three of the six largest property and casualty insurance companies in Korea now rely on Kamakura Risk Manager for market risk management, and Kamakura has signed six Korean financial institutions as clients.Kamakura is the first vendor in the world to offer default probability estimation, credit-adjusted value at risk, net income simulation, and transfer pricing in a single fully-integrated software product.Kamakura is represented in Korea by Unisys Korea,Limited,a subsidiary of Unisys (NYSE: UIS).
"First Fire & Marine Insurance is in an extremely sophisticated business where the return on risk management technology investment is very high," said Dr. Donald R. van Deventer, President and Chief Executive Officer of Kamakura Corporation."Perhaps more than anywhere else, the property and casualty insurance business blurs the distinction between market risk, credit risk, asset and liability management, and actuarial analysis. We look forward to working with FFMIC for many years."
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