- If's decision demonstrates Trema's strong hold in Nordic and Baltic regions and its growing asset management client base
- Trema's solution for asset management brings If benefits including greater transparency, control over managing their assets and cost savings
London, 11 December 2004 - Trema, the premier provider of strategic software solutions for the financial industry, today announced that If, the leading property and casualty insurance company in the Nordic region, has selected Trema's asset management solution. If, which has insurance operations that also encompass the Baltic countries, will use Trema's complete, real-time solution to provide integration across all asset classes, front office, risk management, performance and back office under Sampo's license.
If is a subsidiary of Sampo, a full service financial group, which provides financial, investment and insurance services. If is a key player in the Nordic and Baltic countries with approximately 3.8 million customers, 7,000 employees and EUR 10 billion assets under management. If's investments are diversified globally in many asset classes such as cash, bonds, equities, commodities and FX.
If's decision to select Trema's solution is distinct. The company previously outsourced the asset management to external managers. It has now taken the decision to build its own asset management organization, covering the front, middle and back office, using Trema's solution. This is largely due to the fact that Sampo's strategy is to actively manage assets in-house so If needed to align its strategy accordingly.
Tell Tornblad, Head of Investment Operations, If, comments, "Sampo has been using Trema's solution for many years and If will benefit by using the same system for its investment management operations. In a pre-study, Trema's solution lived up to our high demands for a cutting edge asset management system, able to handle many asset classes for the whole trade cycle, reducing cost and risk."
Robert WennerstrÃ¶m, Regional Vice President and General Manager, Northern Europe, Trema, comments, "We are delighted to have been selected by If. Our complete solution is used by some of the world's innovative and highly evolved asset managers, and If is one of them. We are confident that the solution will bring many benefits to the organization including greater transparency, control over the managing of assets and cost savings."