25 February 2018
visit www.nextgenbanking.co.uk/

Perot Systems reports National Life Group deal

20 October 2006  |  1879 views  |  0 Source: Perot Systems Corporation

Perot Systems Corporation (NYSE: PER) today announced that Vermont-based National Life Group, a growing and diversified family of financial service companies founded more than 150 years ago, has signed a multi-year contract with Perot Systems for mainframe operations services.

Under terms of the deal, Perot Systems will provide data center, storage and network services to the insurer's flagship company, National Life Insurance Company, and to Life Insurance Company of the Southwest. Perot Systems will migrate these insurers' mainframe operations into its Plano, TX data center. Through Perot Systems' global delivery capability, National Life Group will gain flexibility needed to accommodate its business growth projections and cost advantages to enhance its competitive position.

"We are pleased to be moving forward with Perot Systems. The quality and high degree of expertise of their associates and the culture of the Perot Systems organization blends well with National Life Group and our commitment to quality and high performance," said Edward Bonach, executive vice president and chief financial officer for National Life Group.

"This agreement is a further example of how Perot Systems teams with insurers to significantly improve their return on assets," said Peter Altabef, Perot Systems president and CEO. "Through this collaborative approach, we enable our clients to focus resources on their key differentiators -- investment performance, product development and distribution management -- while our scale, expertise and dedicated insurance solutions provide high quality service with a lower cost structure."

Over the last year, Perot Systems has worked with National Life Group on several smaller projects, which have already provided substantial operational improvements and measurable impact for the insurer.

"We are thrilled to expand our work with National Life Group during this exciting period in their business. Perot Systems offers National Life Group the scalability, flexibility and operational stability they need as they broaden their portfolio and create a solid platform for growth," said Paul Hardy, director of insurance solutions for Perot Systems.

National Life Group and National Life Insurance Company are headquartered in Montpelier, VT, while Life Insurance Company of the Southwest is based in Dallas, TX.

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comVisit www.vasco.comRegister for the webinar

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
12733 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10881 views 4 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
9418 views comments | 15 tweets | 27 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8788 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
8697 views comments | 11 tweets | 14 linkedin

Featured job

Competitive
Hong Kong, Asia-Pacific

Find your next job