Austrian Sparkassen Versicherung Aktiengesellschaft (s Versicherung) has licensed SimCorp Dimension for its asset management business. The software will satisfy the accounting requirements of both the national Austrian Commercial Code and IFRS in parallel.
Instrumental in the decision was the comprehensive functionality within risk management, especially in respect of Solvency II, as well as the front-to-back approach from dealing to settlement. The parallel bookkeeping features in SimCorp Dimension will allow s Versicherung's central European subsidiary companies to easily meet their accounting requirements.
"With SimCorp Dimension we are able to act even more professionally within the asset management area," says Alfred Neimke, member of the Board of Directors and responsible for the investment management of s Versicherung. "We feel well prepared for the future requirements of the Austrian Financial Supervisory Authority."
"With s Versicherung, we are happy to welcome a well-known Austrian insurer as customer," adds Dr. Jochen Müller, managing director of sales and product management at SimCorp GmbH. "SimCorp Dimension is able to cover different local requirements simultaneously, and the software is already used in numerous countries all over Europe and beyond."