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KLP Kapitalforvaltning AS Extends Use of SimCorp Dimension

License agreement now includes the front office area to improve dealing efficiency, monitor compliance, and reduce business risk 

SimCorp announced today that Norwegian KLP Kapitalforvaltning AS (part of Norway’s largest life insurance company), has extended its SimCorp Dimension license agreement to cover the entire front office area.

A SimCorp client since 1998, KLP Kapitalforvaltning manages in excess of USD 52bn (NOK 326bn) assets in a broad range of fixed income and equity portfolios on behalf of the insurance business in the KLP Group and other customers through the 34 KLP funds.

KLP Kapitalforvaltning selected the SimCorp Dimension Front Office Suite following a competitive tender process. One of the key deciding factors was SimCorp Dimension’s ability to consolidate data from disparate sources onto a single platform, thus streamlining workflows and strengthening compliance handling.

“Choosing the SimCorp Dimension Front Office Suite is an important strategic decision for us. We are confident that once implemented the front office modules will help us to further automate and optimize our investment processes, thereby managing both risk and cost more efficiently for the benefit of our clients,” says Håvard Gulbrandsen, Chief Executive Officer at KLP Kapitalforvaltning. “In particular, the straight-through-processing capabilities, not just within the front office, but also to middle and back office processes will result in increased efficiency gains.”

Commenting on the agreement, Lau Harting Jeppesen, Vice President of SimCorp Nordic said: “KLP’s choice to expand their license agreement with SimCorp is further testament that we provide  a cutting-edge solution that meets the cross-functional needs of the front office. Not only does SimCorp offer innovative solutions for the back and middle office, more importantly we cover the entire value chain, providing a true enterprise solution. We look forward to continuing our successful partnership with KLP.”