Local presence, implementation record and insurance asset management credentials were deciding factors
Markit, a leading, global financial information services company, today announced that China Life Asset Management Company (CLAMC) has selected Markit’s enterprise data management (EDM) platform. The platform will act as a central hub for all of CLAMC’s securities, pricing, positions and transaction data. After a competitive pitch involving an extensive list of international and local EDM vendors, Markit’s implementation record stood out as did its ability to meet CLAMC’s broad set of needs.
“This is a significant contract to win in the Chinese market. Our insurance asset management credentials, experience with the software platforms used by CLAMC and local presence were deciding factors in our successful bid,” said Daniel Simpson, managing director and head of enterprise software at Markit. “When we started our operations in Asia, we committed for the long term and we are delighted to be working with such a prestigious financial institution in China.”
China Life Asset Management Company is among the first insurance asset management companies founded in China. Co-funded by China Life Insurance (Group) Company and China Life Insurance Company Ltd, CLAMC has USD 300 billion in assets under management and is the largest institutional investor in China’s capital markets.