SS&C launches non-traditional asset class service
26 February 2015 Connecticut
Image: Shutterstock
SS&C Technologies Holdings is to launch an accounting and reporting service for insurance companies in support of non-traditional assets.
The move comes as the insurance industry has been searching for ways to enhance risk-adjusted return, given the continued challenge of a low interest rate environment.
Managing non-traditional assets requires complex investment accounting and reporting often not supported by insurance companies’ legacy systems.
“Traditionally accounting and reporting for Schedule BA assets and syndicated bank loans has been largely manual and managed on spreadsheets. Insurers reaching for yield are turning to these non-traditional asset classes as they typically provide higher returns in the long run,” said Tim Reilly, senior vice president and general manager at SS&C Institutional and Investment Management.
“Outsourcing accounting and reporting to SS&C moves these assets off spreadsheets to a more controlled environment and rigorous process.”
SS&C’s service, available as part of a full service offering or on a component outsourcing basis, will enable insurers to automate accounting and reporting of these investments.
It also automates the accounting and reporting of non-traditional assets, which are integrated with General Ledger and Treasury applications.
SS&C’s current services for syndicated bank loans include tracking the lifecycle of loans and secondary events, reconciliations between custodians, agent banks, and asset managers, balancing of Schedule Ds as well as valuation and reporting.
The move comes as the insurance industry has been searching for ways to enhance risk-adjusted return, given the continued challenge of a low interest rate environment.
Managing non-traditional assets requires complex investment accounting and reporting often not supported by insurance companies’ legacy systems.
“Traditionally accounting and reporting for Schedule BA assets and syndicated bank loans has been largely manual and managed on spreadsheets. Insurers reaching for yield are turning to these non-traditional asset classes as they typically provide higher returns in the long run,” said Tim Reilly, senior vice president and general manager at SS&C Institutional and Investment Management.
“Outsourcing accounting and reporting to SS&C moves these assets off spreadsheets to a more controlled environment and rigorous process.”
SS&C’s service, available as part of a full service offering or on a component outsourcing basis, will enable insurers to automate accounting and reporting of these investments.
It also automates the accounting and reporting of non-traditional assets, which are integrated with General Ledger and Treasury applications.
SS&C’s current services for syndicated bank loans include tracking the lifecycle of loans and secondary events, reconciliations between custodians, agent banks, and asset managers, balancing of Schedule Ds as well as valuation and reporting.
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