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Sava Re Group selects SimCorp Dimension as foundation for front to back investment operations

Press Release

SimCorp

, a leading provider of investment management solutions and services to the global financial industry, announces that Slovenian Sava Re Group, a leading insurance group in the Adria region, has selected SimCorp Dimension as its new front-to-back investment management solution. SimCorp Dimension will play a vital role in realizing Sava Re’s growth ambitions, providing a more efficient and scalable setup.

In order to consolidate its system landscape, Sava Re will leverage SimCorp Dimension’s IBOR (Investment Book of Record) for its entire range of assets, including alternative investments. Alongside full front office functionality, the system will be used to automate settlement processes and cover the full spectrum of investment accounting. This includes the support of IFRS 9 and local accounting standards across various countries in the region. The generation of data needed to comply with Solvency II, as well as local regulation, will also be fully covered by SimCorp Dimension.

“SimCorp’s expertise in the insurance sector, the strong functional coverage and the ability to support the future growth of Sava Re were the key factors in our decision,” says Marko Jazbec, Chairman of the Management Board at Sava Re.

“With SimCorp Dimension, Sava Re will be able to streamline its processes across front, middle and back office and create a core consolidated platform to achieve operational efficiency and future growth,” explains Dr. Ralf Schmücker, Managing Director of SimCorp Central Europe. “It is a pleasure to partner with them on this strategic project.”

  

Enquiries regarding this announcement should be addressed to:

Mittal Shah, SimCorp PR UK/North America +44 207 397 8072 mittal.shah@simcorp.com

Anders Crillesen, SimCorp Corporate Communications +45 3544 6474 anders.crillesen@simcorp.com

About SimCorp

SimCorp provides integrated, best-in-class investment management solutions to the world’s leading asset managers, fund managers, asset servicers, pension and insurance funds, wealth managers, banks and sovereign wealth funds. Regardless of how you deploy it, SimCorp’s core solution, SimCorp Dimension®, and its life-cycle services support the entire investment value chain and range of instruments, all based on a market-leading IBOR. SimCorp invests around 20% of its annual revenue in R&D, helping clients develop their business and stay ahead of ever-changing industry demands. Listed on Nasdaq Copenhagen, SimCorp is a global company, regionally covering all of Europe, North America, and Asia Pacific. For more information, please visit www.simcorp.com.

About Sava Re

Sava Re, the operating holding company of the Sava Re Group, transacts reinsurance business and is the largest reinsurance company domiciled in Central and Eastern Europe. With 40 years’ experience in international reinsurance, Sava Re provides a full range of reinsurance coverages.

The insurance part of the Group is composed of seven insurers based in Slovenia and in the countries of the Adria region. The Group also consists of seven non-insurance companies. Our vision is to create a modern, digital, people-focused and sustainable insurance Group. For more information, please visit www.sava-re.si.

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