Pacific Life and Great American Insurance have recruited the expertise of Barrie & Hibbert and will use their Economic Scenario Generator (ESG) for their specific business needs. Pacific Life will use Barrie & Hibbertâs ESG in the assessment of group economic capital whilst Great American Insurance will implement the ESG for variable annuity pricing and risk management, as well as economic capital modeling.
The Barrie & Hibbert ESG is increasingly used by major international financial services companies serving the insurance, banking, asset management and pensions sectors. The model is already used by insurers managing in excess of two-thirds of European insurance assets. These client wins reflect a growing demand for these services and products in North America.
Barrie & Hibbertâs Regional Head of Americas, Craig Turnbull is delighted by the new clients. âBoth Pacific Life and Great American are well respected, trusted names in the US and itâs testament to Barrie & Hibbert that they have chosen to work with us,â says Craig. âThe market is volatile and complex, and these companies know how important it is to have a robust risk management tool in place.â
Barrie & Hibbert opened in New York in March 2008, and also have offices in Edinburgh, London and Hong Kong.