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Insurance companies maintain reserves of cash and securities against the risks they underwrite. Many, and especially those engaged in the distribution of retail and corporate savings products such as pension plans and mutual funds, also manage funds internally as well as by using third party fund managers. Some insurance companies still run their own custody and fund administration operations and networks, but most now prefer to use a third party custodian to manage the safekeeping and servicing of assets, and the clearing and settlement of transactions in those assets. Thomas Murray advises insurance companies on the selection of custodians and fund administrators, monitors and benchmarks their performance against service level agreements and industry benchmarks, and helps them manage infrastructural risk.
Benefits:
Our services will ensure that clients:
- Select the most appropriate service provider
- Are not exposed to unnecessary risks
- Achieve the most competitive terms
- Are able to quantify "hidden" costs e.g. foreign exchange execution.
Clients:
Amlin, AXA, Baloise, Chubb Insurance, Fortis, If…, P&C Company, Pension Insurance Corporation, Prudential, SPP, Skandia, Zurich, Storebrand, Pearl Group.
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