QBE Insurance Group chooses SimCorp Dimension for investment management

22 February 2007

SimCorp has announced that QBE Insurance Group Limited, Australia's largest international general insurance and reinsurance group, and a top 20 Australian listed company, has chosen SimCorp Dimension as the investment management system for its Group Investment Division, which manages investments worth over AUD 18 billion on behalf of QBE's operations in more than 40 countries.

SimCorp Dimension will provide a single central system for the Division's front-to-back operations covering portfolio administration and analytics, order management, compliance, risk management, performance attribution, settlement, accounting and reporting.

Commenting on the decision, Mr Mark ten Hove, QBE’s Group General Manager, Investments, said that it was essential for QBE to have and maintain an investment management infrastructure with tools that would allow it to provide the highest level of service to its global operations.

"We selected SimCorp Dimension because it was a single system that could support the Division's entire operations. We saw SimCorp Dimension's superior fixed-income front-office functionality as an important factor, as was SimCorp's excellent reputation for implementation and support and its strong local presence."

"We are delighted that QBE, a global insurance organisation, has chosen to place its business with SimCorp." said SimCorp Asia Managing Director, Mr Peter Hill. "We welcome QBE to our client community and we look forward to another successful project in the Asia Pacific region."

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