As part of the move, Investors Guaranty is merging the operations and technology of risk management solutions provider CicadaRisk into the new brand. The Group is also aligning RiskGrid Technologies within a suite of companies and solutions that comprise the Group's financial services industry vertical.

CicadaRisk was originally launched as a joint venture between Algorithmics and Cicada, with strategic investment by Investors Guaranty. The company and its flagship product RiskGrid, along with related services, will now be marketed on an ongoing basis under the RiskGrid Technologies brand.

The senior management team for the new unit includes Dr Douglas Love of Investors Guaranty and long-time Algorithmics veterans Raj Verma and Sumit Chattopadhyay.

RiskGrid is a framework for risk management and compliance solutions, tailored to the requirements of asset management firms, hedge funds, pensions and endowments, investment consultants and insurance companies. It incorporates the advantages of Algorithmics' award-winning risk analysis and pricing models, along with proven data management technology from Cicada.

RiskGrid is designed to address risk management, performance attribution and compliance in a consistent, integrated enterprise framework. RiskGrid 2.0, released in October, features a new dashboard view, designed to help provide senior management with a high-level enterprise view of risk.

"We are pleased to bring the new RiskGrid Technologies brand to the market. By incorporating into the brand the impressive solution developed by CicadaRisk and its team, we have a solid foundation of technology and expertise to address the expanding risk management market," said Douglas L. King, Chairman, Investors Guaranty Group. "The market's efforts toward best practices for risk management and meeting compliance requirements continue to drive demand and our product strategy. We also look forward to continuing our mutually-beneficial relationship with AlgoriiAlgorithmics and developing various solutions 'Powered by Algorithmics'."

The announcement follows Algorithmics' news in October that it had re-aligned and expanded its product development agreement with Investors Guaranty. Under the new agreement, Investors Guaranty is developing solutions, including RiskGrid, that leverage Algorithmics' software in several buy-side markets, including asset management and insurance.

RiskGrid is a browser-based application framework, deliverable in ASP and managed services delivery models.