AXA XL ILS Capital Administration, the choice reinsurance capital division of the business insurance coverage and reinsurance unit of the AXA Group, is about to make use of Clearwater Analytics as a supplier of funding accounting companies.
With over $1 billion in insurance-linked property underneath administration in a spread of different reinsurance capital buildings and funds, AXA XL ILS Capital Administration helps institutional traders to entry insurance coverage and reinsurance danger premium alternatives in co-participation with AXA XL.
At present, Clearwater Analytics mentioned that AXA XL’s different capital crew has chosen the corporate to offer strategic assist for a portion of its funding portfolio.
Having assessed different service suppliers, the AXA XL different capital crew selected Clearwater for its capacity to fulfill their advanced accounting ebook of file and regulatory necessities, together with customised basic ledger entries, in addition to its accuracy and reliability, the corporate mentioned.
“We’re extremely excited to welcome AXA XL as a Clearwater shopper,” mentioned Keith Viverito, Normal Supervisor of EMEA and APAC at Clearwater Analytics.
“Our mission is to ship cutting-edge options that radically simplify funding administration and accounting workflows and reporting. Our options present our purchasers with best-in-class funding analytics and a single supply of fact for his or her funding portfolios throughout all asset lessons. These options assist them obtain their strategic development and funding goals and navigate a consistently evolving regulatory panorama.”
The necessity for these providing ILS funding alternatives to have entry to efficient accounting instruments is obvious, given the a number of traders backing ILS funding methods, the completely different jurisdictions traded in and that investments are supplied to, in addition to the completely different monetary reporting wants of ILS buildings.
It’s an usually missed space, however one which ILS managers can spend comparatively important sums to make sure they’ve an institutional high quality accounting system and repair, which will help in giving end-investors higher consolation of their providing.
