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Wealth-Assurance chooses Linedata Services solutions for its pan-European Life Insurance operations

Linedata Services announced today that it has signed a contract with Wealth-Assurance, a European life insurance company head quartered in Vaduz, Liechtenstein and a branch in Luxembourg. Wealth-Assurance has chosen Linedata Services for its ability to provide a unique IT solution for the combined asset and liability operations. This platform, which is unique in the software industry, includes insurance policy administration front to back office solution (MASTERi Solution), fund accounting (Chorus solution) and pre- and post-trade regulatory and prospectus compliance checks (Linedata Compliance solution) . The project roll out of the three core systems has been undertaken already in 2007.

Linedata Services is the only European software provider that proposes an Asset and Liability management packaged offering to insurance groups worldwide, relying on a solution that optimises, secures and traces Asset & Liability flow exchanges. “We have chosen Linedata Services because it is the only European company today capable of offering us a complete and high-performance spectrum, in the domain of asset management as well as in that of life insurance. Choosing Linedata assures us faster and more consistent installation and provides us with a full straight through processing platform. The immediate benefits for our demanding clients is tangible as we can really shorten the time to market of new products and thus being certain to provide the best tailor made services on the market today.” stated Guido Auchli, Executive Partner and Member of the Board of Wealth-Assurance.

Anvaraly Jiva, Chairman of Linedata Services’ Executive Board, stated: “This success is an important step in our willingness to propose a global and integrated offer. The Asset Management and Life Insurance markets today are closely linked and are becoming more and more international. We are convinced that many financial institutions will orient themselves towards this global offer that allows them to gain time and increased productivity.”