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UNIQA goes live with SimCorp Dimension

In the second quarter of 2005 UNIQA Versicherungen AG has gone into production with SimCorp Dimension and will thus use the system to publish the semi-annual financial statement 2005 according to local Austrian GAAP and IFRS. SimCorp Dimension provides the largest Austrian insurer a standardized, cross national solution for asset management,international accounting and risk management.

The implementation of SimCorp Dimension has enabled UNIQA to unify the IT landscape in the areas of securities management and IAS reporting. The new system provides the overview and pricing of UNIQA’s capital investments in real time – for their individually managed holdings as well as for the assets managed by investment companies. SimCorp Dimension already supports the future requirements of the Austrian legal authority (Finanzmarktaufsicht – FMA)
e.g. Value-at-Risk, scenario analyses, performance attributions analyses and stress tests.
Besides UNIQA Versicherungen AG the majority of UNIQA’s shareholdings in the domestic market is technically connected to the solution; furthermore it is planned also to implement the system in the associated companies abroad.

"With SimCorp Dimension we feel well prepared for current and future requirements of FMA", stresses Mag. Andreas Rauter, managing director of UNIQA Finanz-Service GmbH. "Thanks to the successful implementation of SimCorp Dimension we were able to replace several systems in the group’s front and back office within a year's time."

The UNIQA group is one of the leading insurance groups of central Europe and market leader in Austria. The corporate group has more than 8,000 employees, generates premiums of EUR 4b and manages assets of approximately EUR 17b.