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UNIQA Defies Low-Interest Environment with Innovative IT

SimCorp, a leading provider of investment management software and services for the global financial services industry, today announced that UNIQA Insurance Group AG (UNIQA), one of the leading insurance groups in Central Europe with assets under management of more than 26 billion Euros, has gone live with XpressInstruments, the structured products module of SimCorp Dimension.

XpressInstruments will support UNIQA’s strategy to reap the potential returns of structured products in a historically low-interest environment, without losing sight of the necessary risk management. With the extension of its SimCorp Dimension solution to include XpressInstruments, the Austrian insurance company now uses SimCorp's cutting-edge system as an integrated solution for the investment management of both more conventional instruments and structured financial products.

UNIQA has used SimCorp Dimension since 2004 as a unified, transnational platform for investment management, international accounting and risk management. Meanwhile XpressInstruments was developed by SimCorp as a module to support complex, non-standardized financial products quickly in the system, without having to take the usual software update cycles into account.

Structured products can now be managed by UNIQA in parallel with conventional financial instruments in an integrated system across the entire value chain from pricing and risk management to settlement. In comparison to stand-alone solutions for managing structured products, as often used in the industry, the operational risk is thereby reduced dramatically. In addition, the ability to monitor the entire range of investments, including structured products, in one system, aids UNIQA’s implementation of Solvency II.

“The market for structured products is hugely dynamic,” explains Kurt Svoboda, Member of the Board and Chief Risk Officer of UNIQA Insurance Group AG. “For the management of our portfolio of structured products, the new XpressInstruments module helps us to sustainably measure and control capital requirements. Thanks to the flexibility of the software, we feel well prepared for the new challenges to come.”

“In times of historically low interest rates, it is extremely important for insurance companies to capitalize effectively on investment opportunities,” explains Dr. Ralf Schmücker, Managing Director of SimCorp Central Europe. “Being an integrated part of SimCorp Dimension, the XpressInstruments module ensures that structured financial products are correctly priced in the system and can be managed across the entire value chain from pricing to accounting.”