European Insurer Uniqa Taps SimCorp for Structured Products

Uniqa is based in Vienna.

Austrian and Central European insurance firm Uniqa Group AG, with €26 billion in assets under management, will use XpressInstruments to manage its structured products support.

The XpressInstruments module is being added to the firm's existing SimCorp Dimension deployment, in place since 2004, and will be used to manage Uniqa's increased usage of structured products in the current low-interest-rate environment. The addition will also help the insurer meet its upcoming obligations under the Solvency II directive.

“The market for structured products is hugely dynamic,” says Kurt Svoboda, Member of the Board and CRO of Uniqa Insurance Group AG. “For the management of our portfolio of structured products, the new XpressInstruments module helps us to sustainably measure and control capital requirements. Thanks to the flexibility of the software, we feel well prepared for the new challenges to come.”

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